(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investing pro. See the full discussion above.) Investors should keep an eye on the next batch of earnings as potential catalysts for the stock market, according to Jay Woods, chief market strategist for Freedom Capital Markets. “What we are focused on is earnings,” Woods said in a weekly video for CNBC Pro subscribers published Monday. Woods said bank stocks kicked off earnings season last week on a “positive note” and are providing market leadership. The State Street SPDR S & P Bank ETF (KBE) added more than 2% last week, notching its fifth-straight winning week. This week, Woods said he’s keeping an eye on defense stocks. The three largest components of the iShares U.S. Aerospace & Defense ETF (ITA) — GE , RTX and Boeing — all set to report. The ITA has climbed more than 7% in 2026, on pace for its sixth winning year in a row. ITA YTD mountain The ITA in 2026 “Watch them carefully,” Woods said, adding that traders should monitor news out of the Pentagon in addition to company guidance. Woods also said to watch for if ServiceNow can get a relief rally after its report on Wednesday. Shares have tumbled more than 35% in 2026, making it one of the worst performers in the S & P 500 this year. But Wall Street sees the sell-off as overblown: The average analyst polled by LSEG has a buy rating and price target implying more than 72% in upside. UnitedHealth has similarly struggled, with the insurer’s stock tumbling more than 29% over the last year. However, Woods noted that it’s trading above its 200-day moving average for the third time in two years. “It’s kind of in a no-man’s land trading wise,” Woods said of the stock, which is slated to report earnings on Tuesday. If the stock can hold above the $324 per share mark, Woods said to then watch $353.75 as an upside level. On the downside, he said shares could hold at the $300 level or slide to $287 per share. (This weekly Monday video is exclusively for CNBC PRO subscribers.)
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