LIVE MARKETS-Main U.S. indexes edge up with Tesla

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MAIN U.S. INDEXES EDGE UP WITH TESLA

Wall Street's main indexes are slightly higher in early trading on Friday, with Tesla TSLA.O shares up after suffering a big drop the day before.

Tesla is up 1.6% early. Business Insider reported on Friday, citing an internal staff memo, that Tesla is preparing to launch its robotaxi service in San Francisco as soon as this weekend.

The stock lost ground on Thursday in the wake of comments from Chief Executive Elon Musk that U.S. government cuts in support for electric vehicle makers could lead to a "few rough quarters" for the company.

The S&P 500 .SPX and Nasdaq .IXIC still managed to extend their closing record high run on Thursday.

Offsetting some of the day's gains are shares of Intel INTC.O, which are down 9% after the chipmaker forecast a bigger-than-expected quarterly loss and warned of a possible exit from its foundry business.

The company also late Thursday said it is going to end the year with a workforce that is over a fifth smaller than last year.

Investors also await more developments on trade talks, with an August 1 tariff deadline coming next week.

Also, investors digested comments from President Donald Trump on Friday that he had a good meeting with Federal Reserve Chair Jerome Powell and got the impression that the head of the U.S. central bank might be ready to lower interest rates.

Here is the morning market snapshot:

(Caroline Valetkevitch)

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