This is what you need to know on Wednesday:
1. European stocks open higher Wednesday after yet another record setting session on Wall Street that was led by tech stock gains and a solid start to the second quarter earnings season.
2. McCormick & Company Inc. (MKC) - Get McCormick & Company, Incorporated (MKC) Report said Wednesday that it has agreed to buy the food division of Britain's Reckitt Benckiser Group plc (RBGLY) for $4.2 billion.
3. Tech stocks, in particular, should continue to outperform after Tuesday's record close for the Nasdaq, which was helped by a 13.5% surge in Netflix shares after the video streaming service topped 100 million worldwide customers over a robust second quarter.
4. The weaker dollar failed to support oil prices overnight, however, with West Texas Intermediate crude futures for August delivery falling 0.38% to $46.22 after yesterday's surprise 1.6 million barrel increase in crude stocks reported by the American Petroleum Institute for the week ending July 14.
5. Early indications from U.S. equity futures point to another solid session for the tech-focused benchmark, with the Nasdaq priced to gain 0.34% at the opening bell against a more modest 0.1% advance for the S&P 500.
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