Sector Update: Tech

01:10 PM EDT, 10/23/2026 (MT Newswires) -- Tech stocks were higher Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.6% and the State Street SPDR S&P Semiconductor ETF (XSD) increasing 0.4%. The Philadelphia Semiconductor index added 0.7%. In corporate news, SpaceX (SPCX) said it needs the approval of CEO Elon Musk for a merger with Tesla (TSLA), according to a regulatory filing Thursday. Separately, SpaceX intends to secure at least 80,000 cell sites across the US and is in talks with at least one major cellular infrastructure company to achieve that target, Bloomberg reported Thursday. SpaceX shares were up 1.6%.