SpaceX And Palantir Lead Tech Stock Rally After Underwhelming Jobs Report Pequeño is a breaking news reporter who covers tech and more.Aug 07, 2026, 10:59am EDTToplineMajor tech stocks rallied Friday amid a weak jobs report that revealed an unexpected drop in payrolls for July, with SpaceX, Palantir and Cloudflare shares all rising at least 8% in the early hours of trading.SpaceX shares are down 16% since debuting in June.Photo by Justin Sullivan/Getty ImagesKey FactsSpaceX shares jumped 11% shortly before 11 a.m. EDT, rallying from an all-time low recorded Wednesday.Palantir rose 8.4% to around $169 per share and capped off a strong week of gains, with the stock rising 35% in the last five days of trading.Cloudflare’s stock surged 6% to around the $304 mark, rising a day after the company soared beyond revenue expectations ($696.1 million).LOADING VIDEO PLAYER...FORBES’ FEATURED Video