Stocks are selling off on Friday, two days after the Fed raised interest rates for the first time in almost a decade. With today's slide, the Dow and S&P 500 are negative for the week and for the year.
Katie Nixon, chief investment officer at Northern Trust Wealth Management, tells CNBC's "Power Lunch" on Friday she believes the stock market will improve in 2016 and is expecting high single-digit returns for the S&P 500.
Her favorite areas next year are U.S. equities and high yield.
"Investors have been flocking to quality in the high yield market this year; pushing spreads between BB and CCC to the widest levels in years. We do not feel this liquidation will have much impact on the broader market," Nixon said.