This is what you need to know before the bell:

1. European stocks slip as investors hit pause on a record global rally

2. Siemens (SIEGY) shares slump after the company's Q3 earnings fall short of analysts' estimates

3. Shares of Tesla Inc. (TSLA)  were climbing 3.5% to $337.95 in after-hours trading on Wednesday after the electric-car maker beat on its top and bottom line for the second quarter.

4. BMW AG (BMWYY)  posted stronger-than-expected second quarter earnings Thursday and held to its full year guidance as surging Asia sales offset slowing luxury car demand in the United States.

5. Wall Street is set to call lower as investors pull back from the Dow's record close

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