SOXQ is trading 2.24% up today as weak payrolls support rate-sensitive technology stocks.
- Semiconductor and software shares are rebounding from the August 5 technology selloff.
- Strong forecasts from Microchip Technology and Atlassian lifted chip and software stocks ahead of the open.
- July payrolls unexpectedly fell by 23,000, versus expectations for an increase, while unemployment declined to 4.1%; the weaker labor market may reduce interest-rate pressure on growth-oriented technology companies.