NEW YORK (AP) — Stocks closed higher on Wall Street as earnings reporting season got underway and CEOs began to show how well or poorly they're navigating high inflation and a slowing economy.

The S&P 500 rose 0.4% Friday after erasing an earlier loss. The benchmark index closed out its best week in two months and is holding onto a 4.2% gain for 2023 so far.

Stocks of several big banks rose following their earnings reports after shaking off morning losses. Tesla fell after cutting prices on its cars.

The Nasdaq rose 0.7% and the Dow added 0.4%. Treasury yields rose.