US stock indices closed with mixed results on Monday, with the majority of the so-called "Magnificent Seven" technology stocks finishing lower.

The decline was led by Alphabet Inc. (Google), which fell more than 5% following news that a senior research scientist from its DeepMind unit had left to join rival AI firm Anthropic. Amazon.com, Inc. (AMZN) shares dropped 4.75%, while Microsoft Corporation (MSFT) declined 3.18%. Meta Platforms, Inc. (META) fell 2.32%, NVIDIA Corporation (NVDA) slipped 0.97%, and Apple Inc. (AAPL) edged down 0.34%. Tesla, Inc. (TSLA) was the sole gainer among the group, rising 1.14%.

Market Performance Overview

At the closing bell, the Dow Jones Industrial Average advanced 148.01 points, or 0.29%, to finish at 51,712.17. Conversely, the Nasdaq Composite fell 351.33 points, or 1.32%, to 26,166.60. The S&P 500 index declined 27.79 points, or 0.37%, to settle at 7,472.79.

In other notable stock movements, shares of SpaceX (SPCX) plunged 16.4%. Intel Corporation (INTC) gained 5%, and Micron Technology, Inc. (MU) jumped nearly 7%. The Nasdaq Golden Dragon China Index closed 1.3% lower.

Global Market Snapshot

European markets were mixed. Germany's DAX 30 index rose 0.43% to 25,132.93, and the UK's FTSE 100 gained 0.68% to 10,433.48. France's CAC 40 index fell 0.25% to 8,400.11.

In Asia, Japan's Nikkei 225 index climbed 1.55%, South Korea's KOSPI rose 0.69%, and India's Sensex index increased 0.38%.

Currency and Commodity Movements

The US Dollar Index, which measures the dollar against a basket of six major currencies, rose 0.29% to 101.024.

In the cryptocurrency market, Bitcoin gained 0.9% to trade above $64,000, while Ethereum rose nearly 1% to $1,735.28.

Oil prices fell sharply. The July contract for West Texas Intermediate crude dropped $1.78, or 2.32%, to settle at $74.82 per barrel. The August contract for Brent crude fell $2.67, or 3.31%, to $77.90 per barrel. Data showed the US Strategic Petroleum Reserve fell to 331.2 million barrels, its lowest level since June 1983.

Spot gold rose 0.88% to $4,192.36 per ounce, while spot silver edged lower to $65.075.

Key Economic and Policy Developments

Former President Trump signed two executive orders aimed at accelerating the development of advanced quantum computers and mitigating their potential security threats. One order directs federal agencies to collaborate with the private sector to deploy a quantum computer for scientific research by 2028. The second order focuses on preparing government and private security systems against potential quantum hacking threats.

The Federal Reserve issued a statement on the passing of former Chairman Alan Greenspan, who died at age 100. The statement praised his 18-year leadership during periods of significant economic expansion and stress.

The US Treasury Department issued a 60-day temporary general license authorizing the production, delivery, and sale of Iranian-origin crude oil and petroleum products. This is part of an ongoing framework agreement.

Bank of America revised its forecast, now expecting the Federal Reserve to implement three interest rate hikes this year, citing strong economic data and a more hawkish tone from the central bank.

Notable Corporate Updates

The US National Highway Traffic Safety Administration has opened an investigation into a fatal crash involving a Tesla (TSLA) Model 3. The driver reportedly stated the vehicle's Autopilot driver-assistance system was engaged at the time of the incident.

SpaceX (SPCX) has entered into a significant computing power agreement with AI startup Reflection AI. The deal, which could be worth approximately $6.3 billion if fully executed, grants Reflection access to NVIDIA's GB300 chips and involves substantial monthly payments to SpaceX starting in mid-2026.

Micron Technology (MU) signed a multi-year supply agreement with Anthropic to provide data center products, including HBM, DRAM, and SSD. The agreement is linked to Anthropic's long-term computing expansion plans. Micron has also deployed Anthropic's Claude AI model within its own operations and made a strategic investment in the company.