The Nasdaq opened higher by 0.2% on Thursday night.
Investors should still expect to get solid returns from the equity market this year, according to BlackRock's chief investment officer of global fixed income Rick Rieder. 'I think equities will do their job. I think equities will get you know 10%, 12%, maybe 15% return this year. That's a pretty good portfolio, and I don't think you need long bonds to hedge,' Rieder, who oversees $2.
8 trillion in fixed income assets for the firm, told CNBC on Thursday afternoon. 'I think today you can build a portfolio that's reasonably stable, and work your way through.' Sticky service-level inflation will begin to balance out over the next couple of months, Rieder added. He expects inflation is moderating and will allow for a 'normal' economy with a roughly 4% nominal GDP growth. Consumer spending should also continue holding up, he said.
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