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By Rodrigo Campos NEW YORK (Reuters) - Wall Street, seeking direction as the S&P 500 has been stuck in a narrow trading range for 12 days, will next week shift its attention from second-quarter corporate earnings reports to economic data. Investors will be looking for signs of economic strength to reinforce the positive direction hit Friday, when the S&P 500 hit an intraday record high. The overall tone will be of an economy that is getting better at a reasonable pace," said John Manley, chief equity strategist at Wells Fargo Funds Management in New York.
German automaker Daimler AG broke ground this week on a $500 million plant in Charleston, South Carolina to build vans, with the company hoping at last to avoid steep US import tariffs. Volker Mornhinweg, head of Mercedes-Benz Vans at Daimler, said the key reasons for putting the plant in Charleston were the city's excellent port operations and logistics and because Daimler already operates a factory next door. Avoiding the 25 percent tariff that the United States puts on imports of commercial vehicles was also crucial.
DALLAS (AP) — The Army reservist who killed five Dallas police officers had kept an unauthorized grenade in his room on an Afghanistan base in 2014, according to a report by Army officials investigating a sexual harassment complaint against him.