NEW YORK, Nov 21 (Reuters) - U.S. stocks closed higher on Friday, with major indexes rising for a fifth straight week after China’s central bank cut its benchmark interest rate and its euro zone peer announced asset purchases in efforts to boost each region’s economy.
The Dow Jones industrial average rose 88.81 points, or 0.5 percent, to 17,807.81, the S&P 500 gained 10.59 points, or 0.52 percent, to 2,063.34 and the Nasdaq Composite added 11.10 points, or 0.24 percent, to 4,712.97.
Both the Dow and the S&P ended at new closing records.
For the week, the Dow rose 1 percent, the S&P added 1.2 percent and the Nasdaq rose 0.5 percent. (Reporting by Ryan Vlastelica; Editing by Nick Zieminski)