SpaceX, Palantir, and Cloudflare Spark Tech Stock Rally

SpaceX, Palantir and Cloudflare surged over 8% in tech stocks following a weak jobs report.

Tech Titans Rise from the Ground Up

■SpaceX shares jumped 12% before 11:45 a.m. EDT.

■Palantir shares climbed 8.9% to around $169.

■Cloudflare shares surged 8% to roughly $307.

Market Ripple: Other Stocks Gain Momentum

■Microchip Technology surged 12.9% to a two‑week high.

■Reddit shares rose 8.1%, yet remain 30% lower YTD.

■Uber shares climbed 6% to about $75.

Unexpected Jobs Report Outcomes

■Non‑farm payrolls fell 23,000, far below expectations.

■Labor‑force participation dropped to 61.4%, the lowest in five years.

■Unemployment rate fell to 4.1%, down 0.1 points from June.

■Average hourly earnings rose $0.02, bringing the 12‑month average to 3.2%.

Drivers Behind Tech Sector’s Surge

■Tech outpaced the 13.3% gain of the S&P 500, rising nearly 24% since January.

■Micron, Intel, Nvidia, and Apple have grown 205%, 175%, 20%, and 14.8% YTD respectively.

■The AI boom has boosted demand for infrastructure and cloud computing, fueling sector growth.

Markets are adjusting to this development, signaling that the short‑term volatility in tech stocks may give way to a longer‑term growth narrative. Companies like SpaceX and Palantir, with high growth potential, are prompting investors to reassess portfolios, while Cloudflare’s out‑of‑expectation revenue performance underscores sustained demand for cloud services.