NEW YORK (TheStreet) -- All three major indices are in positive territory, as market participants are clearly cheering the dovish outlook of future Federal Reserve Chairwoman Janet Yellen.
TheStreet's Debra Borchardt is with Jason Weisberg of Seaport Securities, discussing the equity markets.
He reminded investors that generally speaking, the market does not react well to unexpected change, and rallies when policies keep to the status quo.
Regarding Yellen's preference for strict banking regulations, Weisberg said he can't imagine the Fed coming down any harder on the banks than they already have.
Ultimately, it hurts both individual and institutional shareholders -- the latter of which includes mutual funds, pensions and ETFs, among others.While most investors suspect the markets will hold up fairly well for the rest of 2013, he disagreed that 2014 will be a disappointing year.
Indices are pointing higher and as long as the government prolongs the budget issue, or resolves it, as opposed to defaulting, then "I see no reason why the market won't reflect improved performance for all the companies," Weisberg added. While he did admit that more liquidity would be nice for added conviction, Weisberg concluded that the market should continue higher, pending any catastrophic events. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell