NEW YORK (TheStreet) -- After 2013's incredible run, with the S&P 500 garnering a 31.3% return, the stock market sold off in January to start 2014. According to Stephen Weiss, founder and managing partner of Short Hills Capital Partners LLC, that could happen again going into 2015.
On CBNC's "Fast Money Halftime" show Wednesday, Weiss quickly added that while an early pullback may be possible, investors should look further out than one month. He expects the market to generate an 8% to 10% return next year despite a potential selloff to start the year.
An 8% to 10% return sounds about right, agreed Jim Lebenthal, president of Lebenthal Asset Management. The market will have its usual "bumps" along the way, as geopolitical issues still exist and economic woes are still present in Europe, but nonetheless, 2015 should be a good year for stocks.
"I want to see a good payrolls report to start off January," said Paul Richards, head of foreign exchange at UBS. He think if the European Central Bank delivers some form of stimulus on Jan. 22 it should propel the market higher. However, with geopolitical issues looming and higher rates on the horizon, the second half of 2015 is likely to be "pretty rough," Richards added.
Utilities will likely start off 2015 with bullish price action and continue higher through the first half of the year, according to Jon Najarian, co-founder of optionmonster.com and trademonster.com. However, the sector will likely struggle in the second half of 2015. He expects the financial and health care sectors to lead the market higher.
One sector that has struggled is energy; West Texas Intermediate prices have fallen nearly 50% in the past six months. "I think we've seen the bottom in oil," according to Morgan Downey, CEO of Money.net. However, prices are likely to remain rangebound between $50 to $60 per barrel for most if not all of 2015. Instead, investors should look at fracking companies on the long side, which could become M&A targets. Specifically, he likes EOG Resources (EOG) , Whiting Petroleum (WLL) and Continental Resources (CLR) .
In regards to energy, the most money will be made and lost in the credit market, Weiss said. That is to say, some company's credit is likely deeply discounted while others will eventually go bankrupt, making the credit worthless.