News Summary: Stocks gain on earnings; Nike soars

BUYING THE DIPS: Stocks bounced back from a slump Thursday as investors took the opportunity to add to their holdings. Strong corporate earnings also boosted the market.

JUST DO IT: Nike's stock hit an all-time high after the company reporting a jump in quarterly profits, boosted by a recovery in North America.

SIGNS OF FATIGUE?: Despite Friday's rally, the Standard & Poor's 500 logged its second weekly decline of the year. Investors spent much of the week worrying about the implications of the latest twist in eurozone debt saga. The Mediterranean nation of Cyprus is facing bankruptcy if it doesn't agree a bailout for its stricken banks.