Major U.S. and European indexes struggled on Monday as Wall Street slogs through an earnings seasons that has largely disappointed.

CNBC "Fast Money" trader Brian Kelly said that looking for growth in the current market is "dangerous." Opportunities can still be found, however, and CNBC's "Fast Money" traders discussed the sectors they believe hold the best growth prospects.

Economic trends point to strong growth for companies in the housing sector, trader Pete Najarian said. Some home builders have "plenty of room to the upside still," he argued.

"I look at the way the economy is improving, I look at the lower rates and I look at the cash positions of some of these," Najarian said.

Read MoreWhy HK property won't bring down its economy

He eyed home construction materials producer Masco in particular. It traded to about $26 per share on Monday.

Trader Karen Finerman looked to a newer investment—drones.

She has yet to take on any exposure to the sector. However, she says "we are just on the cusp of the proliferation of drones in a very big way."

Read MoreAlibaba tests drone deliveries after Amazon push

Drone maker AeroVironment, which ended just below $27 per share on Monday, could provide a good entry point in the space, Finerman said.

Trader Dan Nathan believes China, the world's most populous country, holds growth opportunities. Chinese Internet usage is "going off the charts," Nathan said.

He compared Web services company Baidu to a mid-2000s Google, adding that he would buy it on a pullback. U.S.-listed shares closed around $215 on Monday.

Read More'Massive opportunities' still exist in China

Najarian saw a trade in Chinese telecom. He would look into both Apple—which has recently enjoyed success selling the iPhone in China—and state-owned company China Mobile.

Kelly liked the potential for growth in aerospace and defense. Despite pressures on government defense spending, some companies in the sector have room to run, he argued.

He cited Lockheed Martin, Rockwell Collins and Alliant Techsystems as plays in the sector.

Disclosures:

Dan Nathan

Dan Nathan is long YUM Feb 72.50/68 put spread, BBRY June call spread, XLF March put spread, XLU March 48 / 44 put spread, QQQ Feb 101/ 95 put spread, XRT March 90/85 put spread and DIS Feb 92.50/87.50 put spread. Today, he bought XLF long March put spread.

Brian Kelly

Brian Kelly is long BTC=, US dollar, CTRL calls, HYG puts, BBRY call spreads and TLT. He is short EWA, EWG, EWQ, EWZ, EWW, Australian dollar, British pound, Canadian dollar and yuan. Today, he bought GLD.

Karen Finerman

Karen Finerman is long BABA, BAC, C, DIA, FINL, FL, GOOG, GOOGL, JPM, M, MTW and KORS. She is long calls C. Her firm is long BAC, PLCE, C, CMLS, DIS, FBT, FINL, FL, GOOG, GOOGL, GPS, IBB, JPM, KORS, M, MTW, SPY, SUNE, USO and XBI. Her firm is long calls JPM spreads. Karen Finerman is on the board of GrafTech International.

Pete Najarian

Pete Najarian is long AAPL, BABA, BAC, BMY, DB, JPM, KKR, KO, LLY, LOCO, MRK and PFE. He is long calls AAL, BABA, COP, DAL, DIS, DNKN, EBAY, EWG, FCX, FOXA, GILD, GT, IAG, ISIL, MCD, MRVC, MS, OLN, PEP, RG, SPY, SYY, UAL, WMB, XLE and XLF. He is long puts BHP. Today he bought long calls MS, long calls OLN and long calls WMB.