ClearBridge's Schulze: 'Earliest I see a recession is 2024'

Jeff Schulze, investment strategist at ClearBridge Investments, says that while headlines have focused on economic risks and the tightening moves of the Federal Reserve, the firm's  analysis of recession risk shows that most economic factors are still favorable, suggesting that there will be expansion -- accompanied by stock market gains -- over the course of 2023, with the prospect of a true economic downturn occurring next year at the earliest. In the Danger Zone, David Trainer of New Constructs talks about how a huge percentage of companies in the Standard and Poor's 500 are overstating earnings for reasons that are only uncovered by digging into the footnotes; he singles out Amazon.com, Ford Motor Co. and Block and explains why things could get ugly when the market figures out the problem. Also on the show, Barry Metzger of Charles Schwab talks about the firm's latest survey of traders and how they are likely to respond to the market's sluggish start to the year and, in the Market Call, Maury Fertig of Relative Value Partners discusses how closed-end funds have been performing during the heightened volatility that has started the year.