Red circular spots on the stomach can stem from various causes, such as fungal infections (like ringworm), eczema, contact dermatitis, or pityriasis rosea. Because treatment depends on the exact cause, I do not recommend applying prescription ointments without a professional evaluation. For temporary relief from itching, you might try an over-the-counter 1% hydrocortisone cream or a basic moisturizing lotion. If the spots are itchy and scale-like, an over-the-counter antifungal cream like clotrimazole may assist. However, please consult a doctor or dermatologist for a proper physical examination and an accurate prescription tailored to your skin.