(PRO Views, exclusive to PRO subscribers, gives you insight into the day’s news straight from real investment pros. See the full discussion above.) With earnings in the spotlight this week, NYSE Insider Jay Woods is paying particular attention to Microsoft, as about a third of the S&P 500 index is reporting. The Magnificent Seven giant is scheduled to release its latest financial results on Wednesday afternoon, but Woods noted that the stock is “stuck” between its 50-day and 200-day moving averages. “Look at the 50-day moving average of support, around 420, around 400, and resistance. The 200-day moving average is at 440 and 460. So Microsoft, if it can get back on track, the worst is probably over for these software names,” said Woods, chief market strategist at Freedom Capital Markets. This year has been full of ups and downs for software stocks. The iShares Expanded High-Tech Software Sector ETF (IGV) is down more than 19% this year. However, it has risen more than 11% in the past month. (Watch the full video above.) Veteran trader Woods also mentions in the video: Key levels to watch for Meta and Visa , which report earnings on Wednesday and Tuesday, respectively. Why is this week’s Federal Reserve meeting all about “Jerome Powell’s legacy”? Woods expects a “hawkish pause” followed by a handoff to Kevin Warsh. Why is he still paying close attention to the Middle East conflict? The Middle East conflict remains a major concern as oil prices remain high for an extended period of time. (This weekly Monday video is exclusive to CNBC PRO subscribers.)
