12:54 PM EDT, 07/25/2025 (MT Newswires) -- US equity indexes scaled new all-time peaks in midday trading Friday as investors weighed corporate earnings while gaining confidence that Jerome Powell will complete his term at the Federal Reserve and a trade deal will be struck with the European Union.

The Nasdaq Composite rose 0.4% to 21,147.2, hitting a new all-time high of 21,159.80 intraday. The S&P 500 climbed 0.4% to 6,388.5, also making a fresh record high of 6,389.87 earlier in the session. The Dow Jones Industrial Average advanced 0.2% to 44,795.7, moving closer to its peak of 45,073.63.

Consumer discretionary and industrials were among the gainers intraday, while energy and real estate were among a trio of decliners.

In earnings news, Deckers Outdoor ( DECK ) shares surged 12% intraday, the top gainer on the S&P 500, after the company reported a year-over-year jump in fiscal Q1 earnings and net sales.

Charter Communications' ( CHTR ) Q2 net income and revenue rose from a year ago, but the cable giant lost more than 100,000 internet subscribers, it said Friday. Shares sank 18% intraday, the steepest decline on the S&P 500 and the Nasdaq.

The second-worst performer on the two indexes was Intel ( INTC ) , with shares down 9.2% intraday. The company overnight reported that it swung to a loss in Q2 and outlined a plan to cut its workforce by 15% by the end of this year.

Investors digested recent remarks from President Donald Trump that downplayed tensions with Federal Reserve Chair Jerome Powell. During a visit to the Fed's headquarters on Thursday, Trump reportedly indicated he was not considering removing Powell from his position, a stance also taken by Treasury Secretary Scott Bessent earlier this month.

The footprints of a trade deal announced this week between the US and Japan could be seen in an agreement in the offing with the European Union, especially the 15% tariff rate. Trump said there is a 50/50 chance of striking a trade deal with the European Union, with both parties "working very diligently" to reach an agreement by the Aug. 1 deadline, multiple media outlets reported, including Reuters.

The CBOE Volatility Index dropped 2.1% to 15.06 intraday, trading close to its lowest level since mid-February.

Gold futures declined 1.3% to $3,330.26 per ounce.

In economic news, new orders for US durable goods fell by 9.3% in June following a gain of almost 17% in the previous month, compared with expectations for a 10.7% decrease in a survey compiled by Bloomberg. Excluding a decline of more than 22% in transportation orders, new orders would have been up 0.2% in June after a 0.6% increase in May. Expectations were for a 0.1% gain.

"Huge Boeing orders were booked in May as a result of President Trump's visit to the Middle East in the Spring, so this decline represents some payback," Jefferies US Economist Thomas Simons said in a note.

Most US Treasury yields fell, with the 10-year yield down 1.2 basis points to 4.4%.

West Texas Intermediate crude oil futures retreated 1.1% to $65.28 a barrel.