Weaker Employment Data Boosts Tech Stocks, Semiconductor Valuations Rise

The US employment data released by the Bureau of Labor Statistics on September's nonfarm payrolls showed a weaker-than-expected increase, falling short of the projected 84,000 by economists polled by Dow Jones. The actual figure was 29,000.

This news cooled down Treasury yields, easing interest rate pressure and benefiting high-growth technology equities. Semiconductors, in particular, saw their valuations expand as falling yields reduced the discount rate on long-duration earnings.

KLA Corporation's shares were among those impacted by this development, trading up 7.98% during the regular session. Since the beginning of the year, KLA Corporation has risen 62.6%, but it still lags behind its 52-week high of $301.71 from June 2026, at which point it traded 31.3% below.

Investors who bought $1,000 worth of KLA Corporation's shares five years ago would now be looking at an investment worth $6,296.