Sector Update: Tech

03:27 PM EDT, 10/23/2026 (MT Newswires) -- Tech stocks advanced late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 0.5% and the State Street SPDR S&P Semiconductor ETF (XSD) increasing 0.7%. The Philadelphia Semiconductor index added 0.5%. In corporate news, ServiceNow (NOW) shares rose 0.6%. BofA Securities raised its price target to $180 from $150 ahead of the company's Q3 results, expected Wednesday. The firm's AI technology could see broader adoption and incremental spend, which should support durable revenue growth, BofA said.