It was a good week for the U.S. stock market — at least compared to recent weeks. Even after the "soft" Friday jobs report, the market kept grinding higher, especially big growth stocks, which in the past week saw their biggest inflow in the past four months, according to Bank of America Merrill Lynch data.
Talk of the beleaguered Trump Trade has even been replaced by talk, among some, of a Trump Trade restart.
The Dow Jones Industrial Average saw its first record close since March 1 on Thursday, according to CNBC data. The Dow, S&P 500, NASDAQ, and NASDAQ-100 all closed at record highs on Friday. The small-cap stock Russell 2000 index saw its best daily performance in two months this week.
Financials were the best-performing sector on Thursday, with the Financial Select Sector SPDR (XLF) turning in its best day in more than a month.
... Before turning in a great day on Thursday, financial had given up all their gains for the year as of Wednesday.
And the millionaire investor confidence survey conducted by Spectrem Group showed its biggest ever month-over-month drop in May as 39 percent of America's affluent said they will avoid investing in the next month.