(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.) While traders are set to continue focusing on the U.S.-Iran war, New York Stock Exchange insider Jay Woods is watching two key companies reporting earnings on Wednesday. Delta Air Lines will deliver results before the bell, though Woods isn’t expecting the report to change his outlook on the stock, which he said is trading in “no man’s land.” Instead, he’s looking at what the company’s guidance will look like now with jet fuel prices surging due to the U.S.-Iran war. “They had good reports in March, saying revenues are expected to beat, let’s see how they guide going forward with the crisis going on,” he said. Woods is also watching Constellation Brands , which he says has a good turnaround story. The stock fell more than 50% from its 2024 highs but is up nearly 20% from its November lows. If the report disappoints, Woods said to watch levels between $149 to $145 for support. However, if it beats, the stock could rally to $167.50, which would put Constellation at levels it hasn’t traded at since August. Shares traded around $153 on Monday. STZ YTD mountain STZ year to date On Iran, Woods said traders are on alert after President Donald Trump posted on social media that Iran would be “living in hell” if the country refuses to reopen the Strait of Hormuz. He then posted, without additional context, “Tuesday, 8:00 P.M. Eastern Time!” “We’ll see if that Tuesday ultimatum of 8 p.m. is a veiled threat, something more that traders have to keep an eye on, or the ultimate ‘ TACO ‘ Tuesday trade,” Woods, chief market strategist at Freedom Capital Markets, said. Later in the week, the Personal Consumption Expenditures price index for February will be released on Thursday, while the Consumer Price Index for March will come out on Friday. While the former is the preferred inflation gauge by the Federal Reserve, the latter will be the first look at how higher oil prices due to the war impacted the economy. “Let’s see how we digest that expected spike” in inflation, Woods said. “Is it temporary? Is it not? That will be decided in months to come.” (This weekly Monday video is exclusively for CNBC PRO subscribers.)