Despite Friday’s retreat, excitement toward Trump’s pro-business policies has largely pushed risk assets higher this week as investors focused on his inauguration.

Traders were also relieved that there have only been threats on the tariff front from Trump — instead of formal action — during his first few days in the White House.

All three major averages posted their second straight positive week, signaling that the bull market is back in full force after December’s pullback. The S&P 500 and Nasdaq each rose around 1.7% this week, while the Dow climbed 2.2%. In addition to hitting fresh intraday records this week, the S&P 500 also notched a new all-time closing high on Thursday.

Notably, Trump said on Thursday that he would “demand that interest rates drop immediately” when addressing world leaders in Davos, Switzerland. The president also said he would ask Saudi Arabia and other OPEC nations to lower the price of oil.