United States benchmarks ended in mixed territory on Friday, concluding a strong month of gains as investor optimism was dampened by persistent trade uncertainty involving China.
The Dow Jones Industrial Average rose 54.3 points, or 0.1%, to close at 42,270.1, the S&P 500 remained little changed at 5,911.7, while the Nasdaq Composite declined 0.32% to settle at 19,113.77.
On a weekly basis, the Dow added 1.6%, the S&P 500 advanced 1.9%, and the Nasdaq rose 2%.
May proved to be a standout month for equities, with the Dow gaining 3.9%, the S&P 500 climbing 6.2%, and the Nasdaq surging 9.6%.
Markets were rattled early in Friday’s session following a social media post from U.S. President Donald Trump accusing China of breaching its preliminary trade agreement with the United States.
Treasury Secretary Bessent reinforced market concerns in a Fox News interview, stating that trade talks between Washington and Beijing were “a bit stalled”.
The situation was further complicated by ongoing legal disputes surrounding Trump’s proposed tariffs. The Court of International Trade temporarily halted the bulk of the duties late Wednesday, raising questions over the administration’s ability to enforce the sweeping levies.
However, an appeals court issued a stay the following day, allowing the tariffs to remain in place at least until next week.
On the bond markets, the 10-year Treasury yield dropped 0.6% to 4.398%, while the 2-year yield fell 1% to 3.9%.
