Sector Update: Tech

08:59 AM EDT, 10/02/2026 (MT Newswires) -- Technology stocks were rising pre-bell Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 1.5% and the State Street SPDR SP Semiconductor ETF (XSD) advancing by 2.6%. ON Semiconductor (ON) and Synaptics (SYNA) revised their merger under which Onsemi will buy Synaptics for about $5.70 billion, compared with the prior deal with an enterprise value of roughly $7 billion. ON Semiconductor shares were up more than 7% and Synaptics stock was past 14% higher premarket.