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Wall Street Gets Ready for Another Slate of Earnings

European edge higher as solid earnings extend equity market rally

These are the stories that you need to read on Wednesday:

1. European stocks open mixed Wednesday as investors await the first estimate of second quarter growth in the U.K. and what could be a key statement on balance sheet reduction from the U.S. Federal Reserve.

2. Daimler AG (DDAIY)  posted slightly weaker-than-expected second quarter earnings even as the group notched record sales for its luxury Mercedes-Benz division thanks in part to surging sales in China.

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3. Global oil prices extended gains in overnight trading and into the European session with Brent crude rising past $50 a barrel after a bigger-than-expected drawdown in U.S. crude stocks.

4. The greenback was supported by news that Senate lawmakers voted to begin debate over an as-yet undetailed healthcare bill that Republicans hope will be the first step towards repealing and replacing the Affordable Care Act, otherwise known as Obamacare. 

5. Early indications from U.S. equity futures suggest a mixed open for Wall Street, as well, with little-changes priced into the three benchmarks following earnings from Dow components Ford Motor Co. F, Boeing Co., and Coca-Cola Co.

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