This is CNBC’s live blog covering the Asia-Pacific market.
Asia-Pacific markets are expected to be mixed as traders focus on this week’s Federal Reserve meeting after U.S. inflation again beat expectations on Friday.
Core consumer spending, excluding food and energy, rose 2.8% in March from a year earlier, beating the Dow Jones Industrial Average’s forecast of 2.7%. Personal consumption increased by 0.8%, exceeding expectations for an increase of 0.7%.
In Asia, China’s April official purchasing managers’ index is expected to be released on Tuesday, along with Japan’s March industrial production and retail sales figures, ahead of Wednesday’s Labor Day holiday. There is.
Australian S&P/ASX 200 futures have a stronger open at 7,620 compared to the previous close of 7,575.9.
In contrast, Hong Kong’s Hang Seng Index futures were at 17,621, indicating a weak opening compared to the HSI’s closing price of 17,651.15.
Japanese markets are closed due to holidays.
U.S. stocks soared on Friday, with the S&P 500 and Nasdaq Composite posting their best week since November on strong earnings from Big Tech companies.
The S&P 500 rose 1.02% and the tech-heavy Nasdaq rose 2.03%, its best session since February. The Dow Jones Industrial Average rose 0.4%.
—CNBC’s Samantha Subin and Yun Li contributed to this report.
Crude oil prices end two-week decline
A pump jack operates in front of a drilling rig at sunset in an oil field in Midland, Texas.
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
Google’s parent company Alphabet trades at record high after earnings
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 hits a 34-year high against the yen
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
