Stocks managed to close modestly higher on Wall Street Friday after a day of wobbling between gains and losses.

The S&P 500 rose 0.4%. The index still wound up with its biggest weekly drop since late March. The market's enthusiasm was checked by yet more grim data showing how badly the coronavirus pandemic is crippling the economy.

Retail sales sank a record 16.4% in April and industrial production plunged a record 11.2%.

At the same time, investors are cautiously optimistic that the fallout from the outbreak will begin easing as more U.S. states reopen their economies.