Wednesday brought Existing Home Sales data. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7 percent to a seasonally adjusted annual rate of 5.61 million in November from a downwardly revised 5.57 million in October. November's sales pace is now the highest since February 2007 (5.79 million) and is 15.4 percent higher than a year ago (4.86 million).

Thursday was marked by Unemployment Claims, Final GDP and Durable Goods Orders data. In the week ending December 17, the advance figure for seasonally adjusted initial claims was 275,000, an increase of 21,000 from the previous week's unrevised level of 254,000. The 4-week moving average was 263,750, an increase of 6,000 from the previous week's unrevised average of 257,750. There were no special factors impacting this week's initial claims. This marks 94 consecutive weeks of initial claims below 300,000, the longest streak since 1970.

Real gross domestic product increased at an annual rate of 3.5 percent in the third quarter of 2016, according to the "third" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 1.4 percent.  With this third estimate for the third quarter, nonresidential fixed investment, personal consumption expenditures (PCE), and state and local government spending increased more than previously estimated, but the general picture of economic growth remains the same.

Orders for U.S. business equipment climbed more than forecast in November, a sign corporate investment is starting to firm up. Bookings for non-defense capital goods excluding aircraft rose 0.9 percent, the most since August, after a 0.2 percent gain a month earlier, Commerce Department data showed Thursday. The median forecast in a Bloomberg survey called for a 0.4 percent increase. Demand for all durables -- items meant to last at least three years -- fell 4.6 percent on a slump in orders for planes.

On Friday New Home Sales and Revised Consumer Sentiment data was published. New U.S. single-family home sales rose more than expected in November and consumer sentiment hovered near a 13-year high this month, strengthening the view that the economy will gain further momentum next year. The Commerce Department on Friday said new home sales increased 5.2 percent to a seasonally adjusted annual rate of 592,000 units last month. That was the second highest pace since 2007. Economists had forecast single-family home sales, which account for about 9.5 percent of overall home sales, rising 2.1 percent to a 575,000-unit rate last month.

Separately, the University of Michigan said its consumer sentiment index edged up to a reading of 98.2 from 98 earlier this month. That was the highest reading since January 2004. The University of Michigan said a record 18 percent of respondents "spontaneously mentioned the expected favorable impact of Trump's policies on the economy." Consumers anticipated that a stronger economy would create more jobs, with the share expecting higher income rising to a one-year high.

This week markets will be looking at:

CB Consumer Confidence (Tuesday 16:00)

Pending Home Sales (Wednesday 16:00)

Unemployment Claims (Thursday 14:30)

Chicago PMI (Thursday 15:45)