Stocks rose Friday as Wall Street staged a comeback rally on better-than-expected economic growth. The tech-heavy Nasdaq Composite rose nearly 1% as Tesla (TSLA  ) shares continued to rise following strong earnings results, while the Dow Jones Industrial Average added about 30 points and S&P 500 Index gained 0.3%.

Here's how the market settled to close out the week:

S&P 500 Index (SPY  ): +0.25% or +10.13 points to 4,070.56

Dow Jones Industrial Average (DIA  ): +0.08% or +28.67 points to 33,978.08

Nasdaq Composite Index (QQQ  ): +0.95% or +109.30 points to 11,621.71

Friday's moves also brought all major averages into positive territory for the week and month. The Dow and S&P have gained 2.2% and 2.9% this week, respectively. The Nasdaq is also up 4.7% and is set to post its best monthly performance since July.

Tesla rose 11% on Friday and over 33% for the week after the electric car maker reported record revenue in its latest earnings report. The company also announced it was increasing production, which also boosted investor sentiment.

Also in the spotlight, Intel (INTC  ) shares fell over 6% on Friday after the chipmaker issued bleak outlook on top of disappointing quarterly earnings late Thursday. Intel expects revenue to come in between $10.5 billion to $11.5 billion for the first quarter, with losses totaling $0.80 per share.

Visa (V  ) shares rose after the company reported revenue that topped expectations. Separately, Visa announced that current President Ryan McInerney will transition to CEO starting February 1 as current CEO Al Kelly steps down.

Elsewhere, Hasbro (HAS  ) announced it will cut 1,000 employees across its workforce, representing about 15%, in the coming weeks as the toymaker seeks to save about $250 million to $300 million annually by the end of 2025. The company also warned of weak holiday-quarter results.

"Despite strong growth in Wizards of the Coast and Digital Gaming, Hasbro Pulse, and our licensing business, our Consumer Products business underperformed in the fourth quarter against the backdrop of a challenging holiday consumer environment," said Hasbro CEO Chris Cocks in a statement.

In economic news, U.S. core personal-consumption expenditures price index (PCE), which excluded more volatile food and energy prices, rose 4.4% year-over-year, according to the Commerce Department on Friday. This came in-line with expectations and is a preferred inflation gauge for the Federal Reserve -- which is set to meet next week.

Meanwhile, pendings U.S. homes sales rose 2.5% in December, snapping a six months of declines, according to the National Association of Realtors. The University of Michigan's consumer sentiment index rose to 64.9 in a preliminary reading for January, slightly increasing from 64.6 in December.