{"id":2303,"date":"2026-08-07T19:44:30","date_gmt":"2026-08-07T19:44:30","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=2303"},"modified":"2026-08-07T19:44:30","modified_gmt":"2026-08-07T19:44:30","slug":"spacex-and-palantir-lead-tech-stock-rally-after-underwhelming-jobs-report","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=2303","title":{"rendered":"SpaceX And Palantir Lead Tech Stock Rally After Underwhelming Jobs Report"},"content":{"rendered":"<div>\n<h2>What Other Tech Stocks Were Boosted Friday?<\/h2>\n<p>Microchip Technology, an American semiconductor company, surged 12.9% to a two-week high. Reddit shares joined in on Friday\u2019s rally, rising 8.1% before noon, though the forum platform\u2019s stock remains down 30% since January. Uber spiked 6% to just under $75 per share. The ride-hailing company is down 9.3% year-to-date. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=2301\">Blanche Confirmation Gets Key Vote For Approval<\/a><\/p>\n<h2>What Else Did The Jobs Report Show?<\/h2>\n<p>The unemployment rate fell to 4.1% from 4.2% in June. Average hourly earnings edged up two cents, dropping the 12-month average to 3.2%\u2014a five year low. Government education and retail jobs spearheaded the drop in jobs, with the former sector declining by 50,000. Healthcare jobs increased by 22,000, well below its 12-month average of 36,000. <\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=2299\">Elon Musk\u2019s Net Worth Tops $800 Billion Again As SpaceX Shares Spike 11%<\/a><\/p>\n<h2>Key Background<\/h2>\n<p>Tech stocks have outpaced the 13.3% gains made by the S&amp;P 500 this year, with the sector rising nearly 24% since January. That surge has been led by juggernauts like Micron (+205% YTD), Intel (+175% YTD), Nvidia (+20% YTD) and Apple (+14.8% YTD). However, the rally has not extended to major companies including Tesla and Meta, which are down 26% and 9%, respectively, since the start of the year. Several tech stocks have been boosted by the artificial intelligence boom, which has allowed companies to cash in on infrastructure and cloud computing demand.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=2297\">Senate Continues Spending Bill Talks Today\u2014Here\u2019s The Hemp Ban Holding It Up<\/a><\/p>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>SpaceX rebounded from an all-time low, though shares of the Musk-owned company are still down 16% since it went public.<\/p>\n","protected":false},"author":1,"featured_media":2302,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SpaceX And Palantir Lead Tech Stock Rally After Underwhelming Jobs Report - 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