Tesla shares jumped Friday, extending their recent rally after CEO Elon Musk said he would spend more of his time focusing on Tesla, as the Trump administration moved to loosen rules around self-driving cars.

Tesla ( TSLA 4.71%) stock gained ground today in the lead-up to its first-quarter earnings results, which were published after the market closed. The electric vehicle (EV) leader's share price ended the day up 4.8% amid a 2.5% jump for the S&P 500 and a 2.7% gain for the Nasdaq Composite.