The S&P 500 was flat amid some trade-war turbulence on Friday to wrap up its best month of May since 1990.

The market benchmark was mostly unchanged. The Dow Jones Industrial Average rose 54 points, or 0.1%. The Nasdaq Composite fell 0.3%.

The S&P and Nasdaq each had their best monthly performance since November 2023, roaring back as Wall Street bet that the worst of President Donald Trump’s tariffs be walked back or negotiated down before they cause too much economic pain.