Tesla (TSLA) stock rose close to 10% on Friday, April 25 on the heels of a significant announcement by President Donald Trump’s administration regarding self-driving car regulations. The initiative will drive the deployment of self-driving cars and ease the compliance burdens that have dampened industry development.

The president says tariffs on Chinese goods will be substantially lower, he has no intention of firing Fed Chief, and more news to start your day.

Tesla’s stock soared 5.3% after CEO Elon Musk recently told investors he would be spending more time on the company. Investors responded enthusiastically to his promise, sending the stock soaring. The electric vehicle manufacturer’s troubles are compounding quickly after it previewed a disappointing quarter.