Merry Christmas from the New York Stock Exchange. You're watching Financial Buzz Weekly. I'm Elina Babe and here's a review of this week's marquee news. Monday was a rollercoaster ride for the three benchmarks, but US stocks managed to close slightly higher from a sharp sell-off last week. Trading volume was light as many investors took advantage of a holiday week, and there were no major economic reports in the US for Monday. On Tuesday, the final Q3 GDP showed the US economy grew at a 2% pace, while personal consumption rose at a 3% pace. Existing home sales fell 10.5% to a much lower than expected rate of 4.76 million. The Dow picked up triple digits, helped by some stabilization in oil prices and recovery in hard-hit areas of the market. On Wednesday, stocks rallied and the Dow again posted triple-digit gains. The rising construction is bringing a supply to the housing sector and helping to lift new home sales, which rose 4.3% in November to a rate of 490,000. Personal spending rose 0.3% in November, and durable goods orders were flat, both better than expected. On Thursday, jobless claims, which had edged higher over the past few weeks, are moving back down by 5,000 to 267,000. Markets closed early on Thursday for Christmas Eve and will be closed on Friday for Christmas Day. Now, let's take a look at some stocks. Shares of Nike hit record highs on Wednesday, a day after the company delivered earnings that topped projections. The fitness giant posted second-quarter earnings of 90 cents per share. Future orders jumped 20%, excluding currency impacts, blowing past the 14.1% expected. In a move that boosted the company earlier in December, Nike signed NBA star LeBron James to a lifetime deal. The stock has climbed about 36%...
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