Major indices are split with the S&P 500 and Nasdaq moving into the red, while the Dow Jones and Russell 2000 hold in the green.

Magnificent Seven names are mostly moving lower and contributing to the dichotomy in the indices. Alphabet (GOOG/L) is leading the move lower after one of its Nobel prize winning AI scientists is moving to Anthropic from DeepMind.

Although, underneath the surface eight sectors are moving higher, with the more defensive sectors of Real Estate (XLRE) and Healthcare (XLV) leading the charge. Notably, AbbVie is giving the Healthcare sector a boost after it announced plans to acquire Apogee (APGE) for around $10.9B.

Meanwhile, the growthier sectors of Consumer Discretionary (XLY) and Communication Services (XLC) are at the bottom of the list with their mega-cap components contributing to the lag. Technology (XLK) is also in the red but would be in the green if not for continued weakness in software names.

SpaceX (SPCX) signed a deal with Reflection AI to lease its GB300 chips at Colossus 2 data center for $150M per month starting in July. This continues the trend of SpaceX being able to monetize its existing AI infrastructure.

In other AI news, Alphabet (GOOG/L) is taking an approximately $75M stake in A24 and their DeepMind unit will partner with the film studio to develop specialized AI tools for the industry.

The White House X account teased a quantum announcement later today, which is rumored to involve protecting quantum computing research from foreign spying as well as bolstering post-quantum cryptography efforts.

Oil prices are continuing to move lower as further talks with Iran take place and the US temporarily authorizes the sale of Iranian Oil till August 21^st.