The S&P 500 and Nasdaq notched record high closes on Friday, lifted by optimism the U.S. could soon reach a trade deal with the European Union, while Deckers Outdoor surged following a strong quarter for the maker of UGG boots and Hoka sneakers.

Market Snapshot

The S&P 500 climbed 0.40% to end the session at 6,388.64 points. The Nasdaq gained 0.24% to 21,108.32 points, while the Dow Jones Industrial Average rose 0.47% to 44,901.92 points.

Market Movers

Tesla - Tesla rose 3.5% after tumbling 8.2% on Thursday following the electric-vehicle maker’ssecond-quarter earnings report, which revealed a 16% decline in net income. Tesla stock has declined 21% this year.

Intel - Intel fell 8.5%. The chip maker reported second-quarter revenue of $12.9 billion that was better than analysts’ expectations, forecast third-quarter revenue of $12.6 billion to $13.6 billion, versus the consensus call for $12.66 billion, and said it had completed the majority of layoffs—a headcount reduction that will total about 15% of the workforce—under a plan that was announced last quarter. Shares were down, however, after Intel posted an adjusted loss of 10 cents a share, compared with analysts’ expectations for profit of 1 cent. The latest quarter included a number of restructuring charges.

Centene - Centene gained 6.1% after falling sharply in premarket trading following the health insurer’s surprise quarterly loss on ballooning medical costs. Centene posted a second-quarter adjusted loss of 16 cents a share as revenue jumped 22% from a year earlier to $48.7 billion. Analysts were expecting a profit of 11 cents a share on revenue of $44.1 billion. Centenepulled its financial guidanceearlier this month, citing weak data on its Affordable Care Act plans.

Charter, Comcast - Charter Communications, which operates the Spectrum pay TV and internet services, sank 18.5% after posting second-quarter profit of $9.18 a share, well below Wall Street forecasts for earnings of $9.58. Charter added 500,000 mobile lines in the quarter, which was roughly in line with Wall Street expectations. It lost about 417,000 subscribers across its internet, video, and wireline voice services. Rival Comcast was down 4.8%.

Newmont - Newmont jumped 6.9% after reporting second-quarter adjusted earnings of $1.43 a share, topping Wall Street expectations for $1.16. The company has benefited from a recent surge in the price of gold to record highs. The miner posted revenue of $5.32 billion, up from $4.4 billion a year earlier, and higher than forecasts of $4.85 billion. The company said its second-quarter average realized gold price was $3,320 an ounce, up from $2,347 in the same period in 2024. Newmont also said its board authorized a buyback program of $3 billion in stock.

Edwards Lifesciences - Edwards Lifesciences climbed 5.5% after the medtech company’s second-quarter adjusted earnings and sales topped analysts’ expectations. The company also raised its sales outlook for the year, saying it now expects sales to rise 9% to 10%.

Deckers Outdoor - Deckers Outdoor climbed 11.4% higher. Fiscal first-quarter earnings rose from a year earlier as revenue gained 17% to $964.5 million, topping forecasts of $900.4 million. Hoka sales soared 20% to $653.1 million in the quarter, while UGG sales jumped 19% to $265.1 million. Sales at both brands were better than Wall Street forecasts. Deckers expects second-quarter revenue of $1.38 billion to $1.42 billion versus estimates of $1.4 billion.

Booz Allen Hamilton - Booz Allen Hamilton, the government services contractor, reported better-than-expected fiscal first-quarter earnings and raised its fiscal-year free cash flow guidance. The stock fell 1.8%. Coming into Friday, the stock has declined 12% this year on fears of government spending cuts spearheaded by the Department of Government Efficiency.

Boston Beer - Boston Beer, the owner of the Samuel Adams and Truly brands, gained 6.5% after posting second-quarter earnings that came in above Wall Street forecasts. The company also said it expects the full-year total cost impact of tariffs to be less than previously anticipated.

Comfort Systems USA - Comfort Systems USA, a provider of ventilation and electrical services, soared 22.4% after reporting second-quarter earnings that beat Wall Street forecasts and raising its quarterly dividend by 11% to 50 cents a share.

Coursera - Coursera gained 36.2%. The online learning platform boosted its revenue guidance for the full year and reported second-quarter adjusted earnings of 12 cents a share, above the 9 cents Wall Street had anticipated. Revenue came in at $187.1 million in the quarter, topping calls for $180.5 million.

Market News

Tesla to Roll Out Human-Driven Chauffeur Service in Bay Area, California Regulator Says

Tesla plans to offer a chauffeur-style service operated by human drivers to a limited number of people in the San Francisco Bay Area, a California regulator said on Friday, contrary to a media report that the EV maker would offer a robotaxi service.

Unlike Alphabet's Waymo unit, Tesla cannot operate its service using autonomous vehicles because the EV maker does not have the required permits and has not applied, according to a spokesperson for the California Public Utilities Commission. Tesla did not respond to a request for comment.

This week, Tesla CEO Elon Musk said on an earnings call that the company was "getting the regulatory permission to launch" robotaxis in several markets, including the San Francisco Bay Area. Business Insider reported on Friday that the service would be a robotaxi operation with humans in the driver's seat who would be able to control the car.

Trump Says There Is a 50-50 Chance of Trade Deal with EU

U.S. President Donald Trump on Friday said there was a 50-50 chance or perhaps less that the United States would reach a trade agreement with the European Union, saying Brussels wanted to "make a deal very badly".

"We're working very diligently with Europe, the EU," Trump told reporters as he left the White House to head to Scotland for several days of golfing and bilateral meetings.

"I would say that we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU."