-- Tech stocks advanced Tuesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) up 0.2% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.5%.
The Philadelphia Semiconductor index increased 0.4%.
In sector news, SpaceX is hosting a three-day event for analysts this week as it proceeds with its planned initial public offering, Reuters reported. Sources told Reuters that the event includes an analyst tour on Tuesday at the company's Starbase launch facilities in Texas and a trip to the "Macrohard" project at the Colossus data center in Tennessee.
In corporate news, Amazon.com-backed (AMZN) Anthropic could reach an agreement to deploy its AI models for use by the US Department of Defense, CNBC reported, citing an interview with President Donald Trump. Amazon shares rose 1.8%.
Apple (AAPL) announced that Tim Cook will step down as chief executive of the iPhone maker and become executive chairman, with hardware engineering veteran John Ternus set to succeed him as CEO. Apple shares were down 2.4%.
Moody's (MCO) said Tuesday that it is deepening its partnership with Microsoft (MSFT) by embedding its credit intelligence into Microsoft 365 Copilot and other AI-driven enterprise tools, expanding its presence across financial workflows. Microsoft shares gained 2%.