Stocks struggle as earnings and Tesla weigh on market

Stocks turned positive on Friday as investors digested corporate earnings and fresh economic data. The S&P 500 rose 0.17%, while the Dow Jones Industrial Average rose 0.08%. The Technology-heavy Nasdaq Composite rose 0.24%. The S&P Global's flash reading on the U.S. Manufacturing Price Index came in hotter than expected, while U.S. Services PMI hit a 12-month high at 53.7, and U.S. Manufacturing PMI hit a six-month high of 50.4. Procter & Gamble raised its forecast for 2023 organic sales growth to 6%, while Freeport-McMoran fell as much as 5% as copper production declined for the quarter. Cleveland Fed President Loretta Mester said interest rates need to rise above 5% given stubborn inflation.