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Sector Update: Tech Stocks Rise Wednesday Afternoon

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Tech stocks were higher Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 1.7% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 2.4%

The Philadelphia Semiconductor index climbed 3.2%.

In corporate news, CoreWeave (CRWV) shares surged 18% after it posted a Q2 revenue beat and raised its full-year outlook, with analysts saying its capacity gains signal additional upside.

Super Micro Computer (SMCI) shares jumped past 17% after the company provided an upbeat fiscal 2027 revenue outlook.

Alphabet's (GOOGL) Google launched its newest line of Pixel devices, including four phones, a watch and its first-ever tag. Alphabet shares were down 0.3%.

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Sector Update: Financial Stocks Edge Higher Late Afternoon

Financial stocks were edging up in late Tuesday afternoon trading, with the NYSE Financial Index adding 0.1% and the State Street Financial Select Sector SPDR ETF (XLF) fractionally higher.The Philadelphia Housing Index was climbing 1.6%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) was shedding 0.6%.Bitcoin (BTC-USD) was declining 0.9% to $63,394, and the yield for 10-year US Treasuries decreased less than one basis point to 4.69%.In economic news, the pace of US existing home sales fell by 1.7% to a 4.06 million seasonally adjusted annual rate in July from 4.13 million in June, compared with a larger expected decrease to a 4.05 million rate in a survey compiled by Bloomberg, data from the National Association of Realtors released Tuesday showed.The National Federation of Independent Business's monthly Small Business Optimism Index rose to 99.8 in July from 97.4 in June but was below the 100.3 reported a year earlier.Redbook US same-store sales jumped 8.3% from a year earlier in the week ended Aug. 8 after an 8.7% surge in the previous week.In corporate news, Apollo Global Management's (APO) Apollo Sports Capital has reached a $2.6 billion financing deal with Yankee Global Enterprises, the holding company of the New York Yankees, Apollo said Tuesday. As part of the deal, Apollo Sports Capital CEO Al Tylis will join YGE's board, the company said. Apollo shares jumped 6.1%.Nvidia (NVDA) said late Monday it partnered with six financial institutions to raise more than $500 billion in third-party capital for AI infrastructure. Nvidia signed memorandums of understanding with Apollo (APO), BlackRock (BLK), Blackstone (BX), Brookfield (BN), Goldman Sachs (GS) and KKR (KKR) to establish independent compute financing platforms, it said. BlackRock was up 1.4%, Blackstone added 3.8%, Brookfield rose 1.2%, Goldman was down 0.1%, and KKR climbed 7%.Blue Owl Capital (OWL) is selling $750 million of high-grade debt, $250 million more than initially discussed, after receiving a sizable amount of investor orders, Bloomberg reported. Blue Owl shares rose 5.2%.Intercontinental Exchange (ICE) has started a US investment-grade bond sale in as many as five parts two weeks after announcing a $6 billion deal to acquire MarketAxess Holdings (MKTX), Bloomberg reported. Intercontinental Exchange shares increased 0.5%.

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Sector Update: Energy Stocks Gain Late Afternoon

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Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks declined late Tuesday afternoon, with the NYSE Healthcare Index shedding 0.5% and the State Street Health Care Select Sector SPDR ETF (XLV) down 0.2%.The iShares Biotechnology ETF (IBB) decreased less than 0.1%.In corporate news, Tactile Systems Technology (TCMD) shares fell past 17% after it reported late Monday its Q2 results and lowered its revenue guidance for the full year.Alamar Biosciences (ALMR) reported a narrower Q2 net loss and sales above consensus late Monday. Its shares surged past 32%.Hims & Hers Health (HIMS) shares fell 2.5%. Q2 results were mixed, with upside in its US business from branded GLP-1 strength and a ramp in testosterone offset by disappointing gross margin and weak free cash flow, Morgan Stanley said.Eli Lilly (LLY) committed to use Veeva Systems' (VEEV) Veeva Vault CRM globally. Lilly shares were down 1.3%, and Veeva added 1%.

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