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Traders work on the floor at the New York Stock Exchange in New York, Wednesday, Oct. 16, 2013. Stocks are surging on Wall Street after Senate leaders reached a deal that would avoid a U.S. default and reopen the government after 16 days of being partially shut down. (AP Photo/Seth Wenig)

Ogorek: Wall Street Forecast Shutdown-Ending Deal



Buffalo, NY (WBEN) Wall Street gained more than 200 points after word of a deal to end the shutdown was reached. One investor says if you wanted to see how close the two sides were, just look at Wall Street.

"This week, there was a little bit of shakiness, but when you saw the sides actually begin to talk, you saw the market move up over 300 points," says Tony Ogorek of Ogorek Wealth Management. "(Wednesday), in anticipation of the deal being done, the market moved up 200 points." Ogorek says the market has shown incredible resiliency. "You look at all the stuff that's been going on, and it continues to stay up 20 percent, it's pretty remarkable, so it's back to business as usual," he explains.

Ogorek says markets will continue to focus on the strength of the economy, and policies from the new Fed Chairman in January. But come February, the debt ceiling issue will rear its head again. "The question is, are Republicans going to be less strident than they were this time, because they did not have a position that was defensible," says Ogorek. "They'll also look at the strength of the economy, and whether the two sides can find common ground."


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