Stock Futures Fall After Worst Month in 14 Years for NASDAQ - InvestingChannel

Stock Futures Fall After Worst Month in 14 Years for NASDAQ

U.S. stock index futures were little changed on Monday morning after the NASDAQ Composite Index posted its worst month since 2008, pressured by rising rates, rampant inflation and underwhelming earnings from some of the largest technology companies.

Futures for the Dow Jones Industrials docked four points to 32,878.

Futures for the S&P 500 faded 9.25 points, or 0.2%, to 4,118.25.

Futures for the NASDAQ Composite Index fell 49.25 points, or 0.4%, to 12,804.75.

The Dow and S&P 500 are coming off their worst month since March 2020, when the pandemic took hold. The Dow finished April 4.9% lower, while the S&P tanked 8.8%.

Netflix is down 49% over the past month, with Amazon plunging 24% and Meta losing 10.8%. Tech stocks have been hit especially hard since their often-elevated valuations and promise of future growth begin to look less attractive in a rising-rate environment.

Earnings season is now more than halfway finished, but a number of companies are set to post results in the coming week, including a host of consumer-focused restaurant and travel companies.

Expedia, MGM Resorts, Pfizer, Airbnb, Starbucks, Lyft, Marriott, Yum Brands, Uber eBay and TripAdvisor are just some of the names on deck.

Of the 275 S&P 500 companies that have reported earnings so far, 80% have beat earnings estimates with 73% topping revenue expectations

Another key economic indicator will come Friday when April’s jobs report is released.

In Japan, the Nikkei 225 index returned from a long weekend to inch up 0.1%. Markets in Hong Kong were shuttered for holiday.

Oil prices gave up $3.80 to $100.89 U.S. a barrel.

Gold prices gained $36.00 to $1,875.70 U.S.

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