Tech stocks advanced in afternoon trading Friday with the Technology Select Sector SPDR Fund (XLK) rising 1.1% and the SPDR S&P Semiconductor ETF (XSD) climbing 1.8%.
The Philadelphia Semiconductor index advanced 1.7%.
In corporate news, Reddit (RDDT) is intensifying its push for international user growth, focusing on markets like India and Brazil to unlock new advertising opportunities, Chief Operating Officer Jen Wong told CNBC. The shares rose 0.8%.
Apple (AAPL) is poised for a "new era" of growth with the launch of updated AI features for the iPhone 16 ahead of the holiday season, Wedbush Securities said. Apple shares added 0.9%.
ParaZero Technologies (PRZO) shares surged 82%. The company received design verification report approval for its SafeAir M-300 Pro and SafeAir M-350 Pro parachute safety kits from the EU's aviation regulator.
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