160 yen, China PMI, China industrial profit

The Japanese yen fell to 158.43 yen against the US dollar, hitting a new 34-year low.

On Friday, the Bank of Japan announced it would leave interest rates unchanged at the end of its monetary policy meeting and continue bond purchases in line with its March decision.

Bank of Japan Governor Kazuo Ueda said later in the day that if the yen’s movements affected Japan’s economy, there could be reason to adjust policy.

The Japanese stock market is closed on Mondays as it is a public holiday.

China’s industrial profits fell in March, with first-quarter growth slowing compared to the same period last year.

Industrial profits increased by 4.3% in the January-March period, compared to a 10.2% increase year-on-year in the January-March period.

China reports industrial profit data on a year-to-date rolling basis, typically combining economic data for January and February into a single measure.

China’s industrial profits and revenues rose year-on-year in March alone, compared with a 10.2% increase in profits and a 4.5% increase in revenue in the January-February period, according to a Goldman Sachs report. They decreased by 4% and 1.3%, respectively.

— Lim Huijie

The European company known for its Bitcoin mining business recently pivoted its business model to focus on cloud solutions and data center infrastructure.

The company’s cloud division is certified as an Nvidia “elite” partner, making it one of the largest providers of Nvidia-based cloud services in Europe.

Investment bank Berenberg believes the stock could rise more than 50% as the market largely ignores the potential of the cloud sector.

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— Ganesh Rao

There’s one dividend stock that Morningstar says is currently “highly undervalued” and is bullish over the long term.

It is also listed as one of next year’s top picks.

CNBC Pro subscribers can read more here.

— Tan Weizhen

Oil prices rose on Friday on concerns about tensions in the Middle East, ending a two-week losing streak.

U.S. West Texas Intermediate crude oil futures rose 28 cents, or 0.34%, to settle at $83.85 a barrel. Brent crude oil futures rose 49 cents, or 0.55%, to settle at $89.50 a barrel. US crude oil rose 0.85% for the week, while the world crude oil index rose 2.53%.

— Reuters

Alphabet shares were trading at all-time highs Friday, rising about 10% after Google’s parent company reported better-than-expected first-quarter results. Additionally, the tech giant paid its first-ever dividend and issued its $70 billion share buyback.

Alphabet C shares have soared to all-time highs dating back to a special distribution on April 2, 2014, when non-voting shares were created. Trading began on April 3, 2014. Separately, Alphabet A shares hit their highest price since going public on August 19, 2004.

Here are some of the other S&P 500 stocks that hit new highs.

• Chipotle Mexican Grill is trading at its highest level ever since its IPO in January 2006
• General Motors trades at levels not seen since March 2022
• Tractor Supply was taken private in 1982 through an LBO and traded at record high prices until its IPO in 1994.
• Colgate-Palmolive, founded in 1806 and first listed on the New York Stock Exchange in 1930, has been trading at all-time highs.
• Goldman Sachs is trading at its highest level since its May 1999 IPO
• M&T Bank trading is at levels not seen since March 2023

— Sarah Min, Chris Hayes

The dollar rose to 156.896 yen against the yen, the highest since May 10, 1990, when the dollar rose to 157.21 yen against the yen.

Japan’s benchmark Nikkei Stock Average rose 2.34%, its best week since March 22. When the Nikkei average rose 5.63%.

— Ha-Kyung Kim, Gina Francola