What to watch today: Futures rise after Nasdaq’s worst month since 2008

What to watch today: Futures rise after Nasdaq’s worst month since 2008

BY THE NUMBERS fell on the first trading day of May. The closed out April with its worst monthly performance since 2008 as investors faced headwinds that aren't going away anytime soon from a more hawkish Federal Reserve to rising bond yields to persistent inflation to Covid case spikes in China and . (CNBC) alone Friday en route to a nearly 13.3% loss for April. Tech stocks were the epicenter in last month's sell-off, capped with Amazon's 14% decline Friday, its biggest one-session drop since 2006, after reporting a weak quarter. Amazon was losing nearly 2% in Monday's premarket. Breaking two-session winning streaks, the and the on Friday lost 2.8% and 3.6%, respectively. The Dow and S&P 500 had their worst months since March 2020, the month was declared. The Dow sank 4.9% for April. The S&P 500 dropped 8.8% last month. continues this week, though at a slower pace. So far, the March quarter blended earnings growth rate, which includes reported results and estimates from S&P 500 companies yet to report, is 7.1%. If that were to be the final rate for the quarter, it would mark the slowest year-over-year advance since the December quarter of 2020. The on