This Is What You Need to Know on Wednesday

This is what you need to know on Wednesday:

1. European stocks rise firmly Wednesday amid a slump in the U.S. dollar and a rally in government bond yields linked to the latest revelations surrounding the ongoing investigation into possible Russian meddling in last year's Presidential elections.

2. Global oil prices extended gains Wednesday following data that suggested U.S. production may not rise as quickly as expected next year and a a larger-than-expected decline in commercial crude stocks.

3. The dollar's weakness, which began yesterday following email revelations that President Donald Trump's son met with a lawyer he thought was working with the Russian government in order to collect damaging information on Hilary Clinton, continued overnight, fuelled further by comments from two Federal Reserve officials - Lael Brainard and Neel Kashkari - said tame inflation and wage growth indicated no rush towards faster interest rate increases.

4. Burberry Plc (BURBY)  posted stronger-than-expected sales in its fiscal first quarter as growth in China and its domestic U.K. market offset slowing North American revenue.