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Sector Update: Tech Stocks Rise Premarket Wednesday

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Technology stocks were rising premarket Wednesday, with the State Street Technology Select Sector SPDR Fund (XLK) 1%% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 1.4%.

Amkor Technology (AMKR) shares were up more than 3% after the company said it has acquired an additional 67-acre parcel next to its Arizona semiconductor campus as it expands advanced packaging and testing operations in the US.

Nvidia (NVDA) will open its first research center in Singapore focused on embodied AI and improving AI infrastructure efficiency, multiple media reports said. Nvidia stock was up more than 1% pre-bell.

GDS (GDS) shares were up more than 2% after the company posted higher Q1 income and net revenue.

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Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 0.8% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.4%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index rose 0.7%.Front-month West Texas Intermediate crude oil was down 0.8% at $107.77 a barrel, and the global benchmark Brent crude contract was shedding 0.6% to $111.39 a barrel. Henry Hub natural gas futures rose 3.6% to $3.13 per 1 million BTU.In corporate news, X-Energy (XE) can deploy about 20 gigawatts of nuclear power by 2040 underpinned by a solid technology value proposition, a capital-light business model, and commercial partnerships, Morgan Stanley said in a note. Morgan Stanley started coverage of the stock at overweight with a price target of $41. X-Energy shares gained 4%.Cenovus Energy's (CVE) addition of MEG Energy's Christina Lake asset to its portfolio late last year has created a huge in-situ oil sands complex which should yield synergistic development opportunities for decades to come, RBC Capital Markets said in a note. Cenovus shares rose 0.7%.Equinor (EQNR) shares climbed 2.8% after the firm said it has signed a five-year agreement with Dutch energy provider Eneco to supply natural gas from the Norwegian continental shelf.BP (BP) maintained the lockout at its Whiting refinery in Indiana after failing to reach a deal with the United Steelworkers, Local 7-1, the company said. BP shares were up 1%.

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Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

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Sectors

Sector Update: Financial Stocks Decline Late Afternoon

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