Smart Stocks: Global Consumer Plays

There's plenty of negative economic news out there, but that doesn't discourage David Spika. The vice president and investment strategist at WHG Funds favors judicious buying by well-informed investors.

"Investors are looking for a reason to buy stocks," he told CNBC. "The market's looking for a reason to rally, and I think it's because we haven't yet seen a true indication of a recession."

He sees lots of positive economic data to counter the minus signs: good employment data, improved corporate earnings, and optimistic management teams. However, he also sees some sectors to avoid.

"I don't think it's time to be diving back into financials," he cautioned. "I think, ultimately, there will be a time to do that, but I think you still want to focus on the areas of strength in the market."

So where does Spika see some strength?

"Disney and Nike are two of the names I like, because they are leveraged to the foreign consumer," he said.

"You look at some of the emerging markets around the world, middle classes are growing, you've got more disposable income, and Disney and Nike are both benefiting from that."