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5 Things You Must Know Before the Market Opens Wednesday

Here are five things you must know for Wednesday, Aug. 3:

1. -- Wearable fitness tech maker Fitbit (FIT) beat earnings expectations. Fitbit said it sold 5.7 million fitness bands and other devices in the second quarter.

Fitbit faces increasing competition from the likes of the Apple (AAPL) Watch and other wearable tech items, although it remains the market leader in the sector. Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio.

The markets may be...