CHICAGO (WBBM NEWSRADIO) -- Stocks surged higher Thursday, with all three of the major indices hitting all-time highs, as the end-of-year rally continued in the first session of the new year.
The S&P 500 gained 27; the NASDAQ added nearly 120 and the Dow Jones Industrial Average closed up more than 330 points, settling to 28,868.
"I think it is going to be a little bit more pedestrian type of returns this year, it is possible to see a negative return, that won't be terrible. We are not looking for anything huge in the way of the downside," says Paul Nolte, portfolio manager at Kingsview Asset Management. “I think diversification this year should give investors reasons to be happy with their overall portfolio."
He also noted that he sees commodity prices moving higher and that could lead to an uptick in inflation.