The Dow rose 0.28%, hitting a record close of 21,891. The blue-chip index rose 2.3% for July, its fourth month with gains and its largest increase since a 4.8% rise in February. It was the Dow's fourth session of records in a row.
"Companies with multiple share class structures tend to have corporate governance structures that treat different shareholder classes unequally with respect to voting rights and other governance issues," S&P Dow Jones Indices LLC said. "Therefore, S&P DJI's U.S. Index Committee will no longer consider these company structure types as future replacement candidates for the S&P Composite 1500 and its component indices, including the S&P 500."
Shares of Snap fell 1% on Monday, July 31, the first day early investors could sell their shares following the expiration of the lockup period.
Brent crude oil prices averaged $49.67 a barrel in the three months ended in June, according to Energy Information Administration data, up 9.11% from the same period in 2016. BP said it expects to see global oil prices trading in a range of between $45 and $50 a barrel for the remainder of the year.
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4. -- Sony Corp. (SNE - Get Report) said Tuesday that fiscal first-quarter earnings nearly quadrupled from a year earlier as the Japanese electronics and entertainment company saw gains in a number of its units, such as games and semiconductors.
Profit for the quarter ended in June jumped to 80.9 billion yen ($735 million) from 21.2 billion a year earlier.
Sales rose 15% to 1.86 trillion yen.
Sony said it remained comfortable with its annual profit forecast of 255 billion yen.
According to Edmunds, auto sales are expected to experience the biggest drop of the year in July.
Analysts at Edmunds forecast that 1,423,097 new cars and trucks were sold in the U.S. in July, a 3.1% decrease from June 2017 and a 6.2% drop from July 2016.
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