Janney's Luschini: Expect the 2023 recession to arrive in '24

Mark Luschini, chief investment strategist for Janney Montgomery Scott, says that the economic downturn everyone saw as happening this year wound up being postponed for solid economic reasons, but it hasn't been canceled and more likely just pushed back into 2024. Luschini says investors should be defensive, taking advantage of higher bond yields and not being sucked into low valuations on international investments, staying balanced but not too aggressive until the economy and market are on more solid ground. His forecast for a 2024 recession is in keeping with that of D.R. Barton Jr., chief investment strategist at Finiac, who says the market's technicals suggest that Santa Claus will be bringing a rally to town before the year ends, but that the New Year is likely to bring a recession that may be harder than most people expect after so much back and forth this year. Plus, in the Market Call, Eric Schoenstein of Jensen Investment Management talks about using quality as a factor in selecting growth stocks.