Major indices are mostly moving higher today, driven by solid tech leadership contributing to the outperformance of Nasdaq.

The magnificent seven are mostly moving higher. Nvidia (NVDA) is in the lead, following reports Apollo Global Management (APO) is nearing a deal to lend Xai $3.4B for new GPUs as well as the Australian AI company, Firmus, finalizing a $10B debt package from Blackstone (BX) to build out AI infrastructure.

Eight sectors are moving higher this afternoon. Technology (XLK) is in the lead, followed by Communication Services (XLC), as investors bottom fish for names in the sector that have been beaten up lately. Meanwhile, the more defensive sectors of Consumer Staples (XLP) and Health Care (XLV) are lagging.

In other news, Alphabet (GOOG/L) is looking to issue approximately $15B in a new multi-tranche bond offering to fuel its AI infrastructure expansion.