Stocks rallied on Friday after a week of volatility, but light trading volume suggested investors are still reluctant to make big bets due to turmoil in the Middle East and Japan's nuclear crisis.

The Dow Jones industrial average <.DJI> was up 83.93 points, or 0.71 percent, at 11,858.52, according to the latest available figures. The Standard & Poor's 500 Index <.SPX> was up 5.49 points, or 0.43 percent, at 1,279.21. The Nasdaq Composite Index <.IXIC> was up 7.62 points, or 0.29 percent, at 2,643.67.

For the week, the Dow was down 1.5 percent, the S&P fell 1.9 percent and the Nasdaq lost 2.6 percent.

(Reporting by Angela Moon, Editing by Kenneth Barry)