Wall Street Breakfast: Stocks Hover Near Record Highs

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U.S. stock index futures are pointing to a muted open ahead of this morning's release of the Fed's preferred inflation gauge - the PCE deflator - with any slowing in core prices likely to boost market bulls following Friday's strong Q1 GDP reading of 3.2%. Data overnight also showed profits from China's industrial firms growing in March before the next round of U.S.-China trade talks kicks off tomorrow. A rate decision from the Fed on Wednesday could also cement its dovish tilt, and coupled by a series of solid earnings and outlooks from U.S. tech giants could send equity indices to their next run of record highs.

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