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.

Wall Street ended higher on Friday, capping off a strong week that saw both the Nasdaq Composite and S&P 500 finish the week at fresh record highs. At the close of trading the blue-chip Dow (DJI) had advanced by 0.

Investors held onto hopes that the U.S. and Japan’s trade agreement could lead to a tariff breakthrough with other countries, and pushed the S&P 500 and Nasdaq Composite to fresh record highs.

The S&P 500 and the Nasdaq notched record high closes on Thursday as robust results from Google parent Alphabet fueled optimism about other heavyweight artificial intelligence stocks, while Tesla slumped after the electric vehicle maker's results disappointed investors.

The stock market is entering a gauntlet of major earnings reports from a position of strength. Heading into the final hour of trading, the Dow was up 466 points, or 1.1%, while the S&P 500 was up 0.7%.

The Invesco QQQ Trust came into Tuesday's session at its highest ever level as investors await earnings reports this week from major technology companies. Monitor these chart levels.

(Reuters) -Wall Street futures held steady on Friday as investors took a breather following record closes for the S&P 500 and the Nasdaq in the previous session and awaited clarity on trade negotiations ahead of next week's tariff deadline.