The Dow Jones Industrial Average ended the month with style: a new intraday and closing record and its best monthly gain since February.
The Dow added 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.
The S&P 500 dropped slightly, by 0.07%. Even so, the index also enjoyed its largest monthly increase since February. For the month, the S&P 500 rose 2.1%.
The Nasdaq declined by 0.42%.
Boeing Co. (BA) led the Dow after issuing a positive outlook for sales in India. The aircraft manufacturer expects regional airlines to order up to 2,100 new models over the next two decades, a record forecast for India. Boeing shares were up more than 1% on Monday.
Apple Inc. (AAPL) declined by less than 1% ahead of its earnings report on Tuesday, Aug. 1. The world's largest company is expected to post earnings of $1.57 a share during its quarter that ended in June, a 10% increase from a year earlier. Sales are forecast to have climbed nearly 6% to $44.9 billion.
Discovery Communications Inc. (DISCA) agreed to acquire Scripps Networks Interactive Inc. (SNI) in a cash-and-stock deal worth $14.6 billion. The deal, which values Scripps at $90 a share, represents a 34% premium to Scripps' trading levels on July 18, before reports of negotiations surfaced.
Discovery fell 8% after a disappointing second quarter. The network earned 68 cents a share, 4 cents below estimates, while revenue of $1.75 billion missed by $10 million. Foreign exchange ate into profit. Adjusted earnings declined by 4%, though rose 9% when excluding currency headwinds.
XO Group Inc. (XOXO) reported a slightly better-than-expected quarter. The lifestyle media company earned 11 cents a share, in-line with estimates. Revenue increased 9.1% to $42.23 million, $720,000 above consensus.
Sohu.com Inc. (SOHU) jumped 11% on a quarterly revenue beat and solid outlook. Revenue of $461.17 million was up nearly 10% from a year earlier and exceeded estimates by $26.5 million. A net loss of $1.85 a share was 27 cents steeper than anticipated. For the third quarter, Sohu anticipates revenue between $480 million and $510 million, higher than $474.6 million consensus.