Despite an uncertain macroeconomic backdrop, stocks have largely outperformed in 2023. The S & P 500 is up 13.99% year-to-date, while the tech-heavy Nasdaq Composite has surged 30.9% in the same period. In this context, we’ve taken on the bears of late — and been vindicated by a recent pullback in bond yields that had weighed on stocks. The yield on the closely-watched 10-year Treasury has come down to around 4.6%, from more than 4.8% last week, while the S & P has climbed roughly 3%. “Things just aren’t that nightmarish,” Jim Cramer said during the October Monthly Meeting on Wednesday, before zeroing in on the Club stocks that have been lagging, as well those that need no fixing. 3 stocks that need work — and why they’re buys Disney Shares of entertainment giant Walt Disney (DIS) have tumbled 4.77% year-to-date, brought down in part by industry headwinds. A struggling movie-theatre box office, cord-cutting, a lengthy writer’s strike, weaker theme-park attendance, and ongoing streaming woes have all weighed on the company’s financial performance. Still, Jim said “it’s time to buy Disney’s stock now.” “I think a partnership for sports programming from ESPN is in the offing, something that will propel this dog of a stock higher. I also think that Disney’s re-funded balance sheet will lead to a fair wrangling with Comcast (CMCSA) over the one-third of Hulu it doesn’t own,” Jim explained. Comcast is the parent company of NBCUniversal and CNBC. Lastly, Jim added: “I wish the board would welcome [activist investor] Nelson Peltz , not shun him.” Starbucks Coffee maker Starbucks ‘ (SBUX) stock has been dragging for months on investor concerns around its China business and is down more than 7% year-to-date — a reaction the Club thinks is overblown . Bears are taking note of Chinese competitors with lower drink prices, such as Luckin Coffee. But Starbucks has been investing heavily in China for future growth, making it the company’s second largest market after the…
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