Stocks rose for a fifth straight day on Friday and the S&P 500 scored its best week since early July on signs that leaders were taking action to limit the damage from a sovereign debt crisis.

The Dow Jones industrial average <.DJI> gained 75.91 points, or 0.66 percent, to 11,509.09, according to the latest available figures. The Standard & Poor's 500 Index <.SPX> gained 6.90 points, or 0.57 percent, to 1,216.01. The Nasdaq Composite Index <.IXIC> gained 15.24 points, or 0.58 percent, to 2,622.31.

(Reporting by Chuck Mikolajczak; Editing by Kenneth Barry)