The Globe and Mail reports in its Friday edition that TD Securities head of U.S. rates strategy Gennadiy Goldberg expects a U.S. recession beginning in the second quarter of 2024. The Globe's Scott Barlow writes that Mr. Goldberg forecasts a full 250 basis points of U.S. rate cuts beginning in the middle of next year and a decline in the 10-year U.S. Treasury yield from the current 4.46 per cent to 3.15 per cent by the end of 2024. Meanwhile, David Kostin, a Goldman Sachs U.S. equity strategist, has released his forecasts for 2024, predicting an underwhelming 6-per-cent return for the S&P 500. Mr. Kostin expects continued outperformance of the dominant "Magnificent 7" megacap stocks -- Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia and Tesla -- because of faster expected sales growth, higher profit margins and strong balance sheets. Mr. Kostin recommends companies from his high-quality basket, which results from a stock screen emphasizing profitability, leverage, valuation, consistent earnings growth and return on equity. Stocks from the basket most likely to interest Canadian investors include Alphabet, Home Depot, PepsiCo, Paychex, Cadence Design Systems, Microsoft, American Tower and Meta.