After The Bell: NASDAQ Surges To Record Levels As Stocks Rally

By Andy Giersher

(CBS) -- Stocks rallied on Thursday, sending the NASDAQ into record territory, as investors eyed economic data following Wednesday's Fed statement and shrugged off the lack of developments in the Greek debt crisis.

The Dow Jones industrial average added 180 points, the S&P 500 gained 21 and the NASDAQ closed up 68 points, settling to an all-time closing high of 5,132.95.

"The best of both worlds was implied by the Fed. We get an initial rate hike sometime this year and then subsequent rate hikes would be lower, shallower and take a much longer path," said Jack Ablin, chief investment officer at BMO Private Bank. "I think that message sat well with investors."

He also added traders seem to have turned their backs on the Greek issue and are focusing on other market fundamentals.