Stocks are stuck in a 'Seinfeld market'

pulse

May 6, 2017 2:28 PM

US stocks are stuck in a 'Seinfeld market,' meaning there's nothing going on. But that's not necessarily a bad thing.

The stock market had a lot in common with acclaimed sitcom "Seinfeld" last week. Except instead of laughing, investors simply yawned.

While Seinfeld has frequently been called a "show about nothing," the US stock market did basically nothing, rising 0.5% over five of the most uneventful days you'll ever see.

The S&P 500 didn't move more than 0.48% in either direction during any given session. And the seven-day period heading into Friday saw the index locked in a range so tight that it's only been seen twice since 1928, according to Raymond James chief investment strategist Jeff Saut.

Even the events that one would expect to roil markets have been met with a shrug. The passage of the

Dr. Ed Yardeni, president of Yardeni Research, and the first person to compare the stock market to Seinfeld. He prefers to look at the situation from a different perspective — one that embraces the lack of negativity.

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