The Nasdaq Composite and S&P 500 rose in late Friday trading as President Donald Trump indicated the US is approaching a trade deal with Japan.

The Nasdaq increased 0.9% to 17,315.79, and the S&P rose 0.6% to 5,519.62. The Dow Jones Industrial Average eased 0.1% to 40,046.47. Consumer discretionary led gains among sectors, and materials posted the biggest drop.

Charter Communications (CHTR) shares rose 10%, the biggest gain on the S&P 500. The company reported a surprise increase in Q1 revenue, aided by a double-digit gain in mobile service.

Tesla (TSLA) shares surged 8.7%, the second-biggest advance on the S&P. The company's India office is refunding reservation fees to customers who booked the Model 3 in 2016, Bloomberg News reported.

Nvidia (NVDA) shares rose 3.9%, the top gain on the Dow.

T-Mobile US (TMUS) shares fell 11%, the second-biggest drop on the S&P. The wireless company's phone subscribers declined more than market expectations in Q1, while earnings and revenue topped estimates.

The 10-year US Treasury yield dropped 5.1 basis points to 4.3%, while the two-year rate was down 3.2 basis points to 3.8%.

West Texas Intermediate crude oil for June delivery rose 0.8% to $63.26 a barrel.