FINWIRES · TerminalLIVE
FINWIRES

Sector Update: Tech Stocks Rise Thursday Afternoon

By

Tech stocks rose Thursday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) gaining 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.2%.

The Philadelphia Semiconductor index climbed 2%.

In corporate news, Snowflake (SNOW) shares surged 38% after the firm raised its full-year product-revenue outlook on better-than-expected fiscal Q1 results and announced a $6 billion infrastructure-spending deal with Amazon.com's (AMZN) cloud platform.

Data center builder and operator IREN borrowed about $3.6 billion this month to help fund a purchase of Nvidia (NVDA) graphics processing units to be used by Microsoft (MSFT) at a Texas data center, Bloomberg reported. Microsoft shares gained 3.2%, and Nvidia was up 0.4%.

Nebius (NBIS) shares jumped past 8% after Situational Awareness, a fund led by former OpenAI researcher Leopold Aschenbrenner, reported a 5.6% stake worth nearly $2.6 billion in the company, Reuters reported.

Related Articles

Sectors

Sector Update: Consumer Stocks Edge Higher Thursday Afternoon

Consumer stocks edged up Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.1%.In corporate news, Caesars Entertainment (CZR) has agreed to be acquired and taken private by Fertitta Entertainment in an all-cash deal worth roughly $17.6 billion, the companies said in separate statements Thursday. Caesars shares were up 0.9%.Dollar Tree (DLTR) shares jumped past 18% after it posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.Best Buy (BBY) shares climbed almost 18% after it reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

$BBY$CZR$DLTR
Sectors

Sector Update: Energy

Energy stocks were slightly higher Thursday afternoon, with the NYSE Energy Sector Index increasing 0.1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.2%.The Philadelphia Oil Service Sector Index was falling 1.4%, and the Dow Jones US Utilities Index shed 0.3%.Front-month West Texas Intermediate crude oil was fractionally higher at $88.69 a barrel, and the global benchmark Brent crude contract was dropping 1% to $93.36 a barrel. Henry Hub natural gas futures rose 5% to $3.04 per 1 million BTU.In corporate news, BP (BP) will become operator of Azerbaijan's offshore Babek natural gas field under an agreement expected to be announced with state energy company SOCAR on June 1, Reuters reported. BP shares were down 0.4%.

$BP
Sectors

Sector Update: Financial

Financial stocks were lower in Thursday afternoon trading, with the NYSE Financial Index decreasing 0.5% and the State Street Financial Select Sector SPDR ETF (XLF) down 0.4%.The Philadelphia Housing Index eased 0.2%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) added 0.1%.Bitcoin (BTC-USD) was falling 1.3% to $73,337, and the yield for 10-year US Treasuries was down 3 basis points at 4.45%.In corporate news, MetLife (MET) and Ares Management (ARES) are at odds over restructuring of Eagle Football Group's debt, Bloomberg reported. Ares, which has provided more than $400 million in financing to Eagle Football, is trying loan restructuring while MetLife is being told to wait longer to get paid back, the report said. MetLife shares were down 1%, and Ares rose 0.4%.

$ARES$MET