US stocks pushed higher on Friday, capping a strong week for the market and especially for technology. In Friday trading the tech-heavy Nasdaq rose about 1%, the S&P 500 added roughly 0.5%, the Dow edged up, and the volatility index slipped, a picture of steady risk appetite heading into the weekend. But the real story, again, was in a handful of names.
SpaceX rockets back
The standout was SpaceX (SPCX), which surged around 13% as the newly public rocket and satellite giant bounced hard off the lows it hit earlier in the week when its post-IPO lockup expired. The rebound follows this week's blockbuster news that SpaceX will build its AI infrastructure exclusively on Nvidia chips, which we broke down in SpaceX Picks Nvidia Over AMD. After a wild first stretch as a public company, SpaceX ended the week with momentum firmly on its side.
Palantir keeps flying
Palantir (PLTR) added another 9%, extending the remarkable run that included a 29% earnings moonshot earlier in the week. The AI-software darling remains one of the most volatile and most-watched names in the market, for better and worse, as we laid out in our Palantir hidden risks breakdown.Broad tech strength
The gains were not limited to the usual suspects. Uber (UBER) climbed nearly 6%, Coinbase (COIN) rose about 5% as crypto held firm, Qualcomm (QCOM) added over 4%, and Tesla (TSLA) gained close to 3%.
The laggards
Not everything joined in. AMD (AMD) slipped about 2%, still digesting the sting of losing the SpaceX deal to Nvidia, the exact risk we flagged in our AMD hidden risks analysis. Energy was the weakest corner, with ExxonMobil (XOM) and Chevron (CVX) both down more than 1%.
Final Take
A green Friday to close a genuinely strong week: the Nasdaq led, volatility fell, and the AI and space trades that dominated the headlines all week ended it on a high note. SpaceX's 13% bounce and Palantir's continued surge show the appetite for the biggest stories in the market is very much alive. As always after a strong run, follow-through next week is the question. You can track the full list of movers with our stock screener.
Figures are based on Friday's trading and may change at the close. This article is for informational purposes only and is not financial advice. Always do your own research before investing. Previous market recap: Stock Market Week in Review (August 3-7)
