3 forces driving a record week for stocks as 7 portfolio names hit new highs

It's been a week of records for the U

Stock market — and for several stocks in the CNBC 's portfolio

These milestones cap off a remarkable comeback for financial since April

Stocks were pummeled by President Donald Trump's "recical" tariff announcement on April 2 as Wall Street panicked over what higher levies would mean for economic growth and geopolitical relations

That rebound in equities has lifted seven holdings to all-time highs, including Nvidia, Microsoft, Broadcom, GE Vernova, Capital One, Goldman Sachs and CrowdStrike

The outperformances highlight many of the driving forces of the stock market

In fact, we see three key themes: 1

The generative artificial intelligence trade is back

Wall Street had feared a slowdown in AI spending as U. -China tensions threatened semiconductor duction and demand

Investors have since brushed off this uncertainty, which stemmed from tariffs and Trump's chip export controls

A blowout quarterly earnings report in late May indicated demand for the chipmaker's offerings were still strong

Around the same time, CEO Jensen Huang announced a huge deal with startup Humain, which would send 18,000 of its artificial intelligence chips to Saudi Arabia

That's because the more demand there is for AI chips, the more sales both of these firms can rake in

Another beneficiary of the AI trade are the hyperscalers, the companies that help support the computational power and infrastructure needed for AI

One of those mega-caps, Microsoft, is benefiting because of its huge cloud computing , Azure, which generates a large portion of its revenues

GE Vernova supports the build out of the data centers — the power-hungry facilities used to handle the computation demand of AI — with the duction of its turbines

Investors are turning to defense stocks

Geopolitical conflicts in the Middle East and around the world has companies looking for offerings that can tect them from virtual attacks

The companies, in turn, are seen as safe havens for investors

Economy has been more resilient than expected

Last week, Federal Reserve Chair Jerome Powell described the economy as "still solid" and said the central bank was "well positioned to wait" before cutting interest rates

A resilient economy can lead to a pick up in Wall Street dealmaking such as initial public offerings

That means more companies will tap Goldman's crucial investment banking to help with their public debuts

Goldman was named the lead underwriter on big-name IPOs Chime and eToro over the past month alone

For Capital One, a stable economic environment means lower odds of a consumer spending slowdown, which is good news for the credit card issuer

We've long pounded the table that the deal was a key catalyst for the stock. s of Capital One hit a record high Friday of nearly $213 apiece. "I think people should still be buying the stock," Jim Cramer said during Friday's Morning Meeting, adding that Capital One trades at a discount to rivals American Express. (See here for a full list of the stocks in Jim Cramer's Charitable Trust. ) As a r to the CNBC with Jim Cramer, you will receive a trade alert before Jim makes a trade

Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio

If Jim has talked a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade

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