What the Club is watching Monday — yields and dollar way up, stocks down, we want to buy

Published Mon, Sep 26 20228:36 AM EDTUpdated Mon, Sep 26 20228:44 AM EDT

What the Club is watching Monday, Sept. 26, 2022 U.S. stock futures point to a lower open to start the week. U.S. Treasury yields continue to rise, the dollar strengthens as the British pound falling to a record low early Monday morning. The 2-year yield around 4.3%. September has historically been the worst month of the year for stocks, and it's certainly been a terrible month so far, with the Dow down 6%, the S & P 500 down 6.6% and the Nasdaq down 8%. Oil continues to slide on the strong dollar and recession fears. West Texas Intermediate crude hits lowest level since Jan. 6, under $80 per barrel. At what point will the U.S. stop draining the Strategic Petroleum Reserve and start refilling it? We recently explored the possibility and how our oil stocks would be helped by such a move. As Jim Cramer wrote in his Sunday column , we fear pretty much everything right now. But this market is not the dot-com crash of 2000 to 2002 or the 2008 financial crisis. So, after a period of aggressive selling, the Club wants to buy stocks back now. Macao casino operators up after local government and China announce plans to resume group tours for mainland China residents to visit Macao. An unexpected positive development, according to JPMorgan. Citi raises its price target on Club holding Wynn Resorts (WYNN) to $91 per share from $87.50. The stock jumps nearly 5% in the premarket. Evercore reiterates outperform (buy) rating on Club holding Disney (DIS), says the ad supported tier for Disney+ should be accretive to average revenue per user based on their survey work. Jefferies downgrades Anheuser-Busch InBev (BUD) to hold from buy. The Club prefers Constellation Brands (STZ), with its recession-resistant qualities and its unique Mexican beers including Corona. Raymond James upgrades Planet Fitness (PLNT) to strong buy from market perform (hold). UBS downgrades Lyft (LYFT) to neutral (hold). Models 2024 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) short of management's $1 billion target. Wedbush lowers price target on Micron Technology (MU) to $65 from $85 but keeps its overweight. (Jim Cramer's Charitable Trust is long WYNN, DIS and STZ. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.

Traders work on the floor of the New York Stock Exchange (NYSE) on September 23, 2022 in New York City.

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What the Club is watching Monday, Sept. 26, 2022

U.S. stock futures point to a lower open to start the week. U.S. Treasury yields continue to rise, the dollar strengthens as the British pound falling to a record low early Monday morning. The 2-year yield around 4.3%. September has historically been the worst month of the year for stocks, and it's certainly been a terrible month so far, with the Dow down 6%, the S&P 500 down 6.6% and the Nasdaq down 8%.