Sector Update: Tech

Sector Update: Tech

MT newswire2026/10/02 12:59

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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 S&P 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.

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The Bank of Korea announced on Thursday that it will keep the seven-day repo rate unchanged at 3%, in line with market expectations. After raising interest rates consecutively for the first time in more than three years, the central bank has chosen to pause rate hikes in order to assess the impact of rising borrowing costs.

智通财经•2026/10/22 01:49