Stock Market Update

Equity futures point to a modestly higher open as the market looks to build on yesterday's record-setting gains. Big tech shows a positive premarket bias, with software names positioned to extend their recent rally. With the S&P 500 and Nasdaq Composite setting record highs in the prior session while the DJIA retreated, the focus now shifts to whether those gains will begin to broaden.

Just released, industrial production decreased 0.5% month-over-month in March (Briefing.com consensus: 0.1%) following an upwardly revised 0.7% increase in February (from 0.2%).

The capacity utilization rate was 75.7% (Briefing.com consensus: 76.4%), down from a downwardly revised prior reading of 76.1% (from 76.3%) in February.