[video] Quick Take: Stuck in a Market Malaise
NEW YORK (TheStreet) -- While all three major indices are higher Thursday, there's still a lot of uncertainty regarding the outcome of the budget battle in Congress.
Volume remains light and, as Jason Weisberg, senior trader at Seaport Securities, told TheStreet's Debra Borchardt, risk is still on the table. He noted that a hedge fund he recently spoke with is shutting down for the rest of the year to lock in gains amid uncertainty surrounding the politicians in Washington.
While most are not expecting a government shutdown, the nature of the debate usually weighs on equities, Weisberg added. He expects the politicians to "kick the can down the road," as usual, dragging out the conclusion.
Because of this, investors will likely wait on the sidelines. he warned.However, he thinks most of the general public don't seem to care about the debate. We've seen this happen so many times before, it's just becoming ignored, Weisberg said. "People don't have faith in the people that are supposed to be steering the ship," he concluded. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell
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