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Sector Update: Tech Stocks Rise Late Afternoon

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Tech stocks were higher late Monday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.8%.

The Philadelphia Semiconductor Index added 1%.

In corporate news, D-Wave Quantum (QBTS) shares jumped past 10% after the company and Nasdaq's (NDAQ) financial crime management unit, Nasdaq Verafin, signed an agreement to evaluate using quantum computing to improve financial crime detection.

Alibaba (BABA) shares climbed 4.6% after the firm said it launched Qwen3.8-Max, its latest large language model.

ArcelorMittal (MT) said Monday it has expanded its partnership with Microsoft (MSFT) to implement AI tools in its business processes. Separately, Microsoft is raising Xbox prices in the EU and the UK by up to 200 euros ($230.10) and 170 pounds ($228.33), respectively, The Verge reported. Microsoft shares rose 5.5%.

Apple (AAPL) filed a new legal complaint at the Investigatory Powers Tribunal over the UK's demand that the company allows it access to cloud backups of data belonging to British users, The Financial Times reported Monday, citing a court order. Apple shares were down 1.3%.

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Sector Update: Financial Stocks Edge Higher Late Afternoon

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