American investors are pumped about a new record high in the S&P 500 stock index. Meh. It’s actually not much to brag about. South Korean stocks also hit new highs recently, and they’re up 37% so far this year.

Global shares were mostly higher on Friday as the week was winding down with the Israel-Iran ceasefire still in place and signs of progress on a China-U.S. trade deal.

It briefly topped the mark during the afternoon in the latest milestone for the index at the heart of many 401 (k) accounts, which had dropped roughly 20% below its record during the spring on worries about President Donald Trump’s tariffs.