Stocks Opened Higher, Dow Hit Record High

U.S. stocks opened higher on Monday, with the Dow hitting a record high, as investors remained optimistic about second-quarter corporate earnings and ahead of economic data. The Dow Jones Industrial Average lately rose 82.42 points, or 0.38%, to 21,912.73. The S&P 500 gained 4.19 points, or 0.17%, to 2,476.29. The Nasdaq Composite added 12.63 points, or 0.20%, to 6,387.31.

Oil futures edged lower Monday, with traders likely booking some profits after a solid run higher that has put the U.S. contract on pace for its biggest monthly rise of the year. West Texas Intermediate crude for delivery in September traded 25 cents, or 0.5%, lower at $49.46 a barrel, while September Brent crude declined 24 cents, or 0.5%, to $51.98 a barrel.

HSBC Holdings Plc’s second-quarter profit beat analysts’ estimates. Adjusted pretax profit rose 13 percent to $6 billion from a year earlier, Europe’s largest bank said in a filing Monday. Profit at its three biggest units jumped, led by a 31 percent gain in global banking and markets.

Discovery Communications Inc is acquiring Scripps Networks Interactive for $14.6 billion in a deal that is expected to boost the combined company’s negotiating leverage with pay TV operators at a time when more people watch video online, the companies said on Monday.

Shares of Snap Inc (SNAP.N), owner of the Snapchat messaging app, fell 3 percent in premarket trading on Monday as a share lockup ended, allowing for sales by early investors and pushing it further below its March initial public offering price.

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