By Scott Bauer for CME Group Rising interest rates tend to hurt growth stocks, and more specifically tech stocks due to their high price to earnings ratios and low dividend payments. However, across the last five rate hike cycles, the Nasdaq median gain was 26.9%. When I last covered the Nasdaq on March 23, it was in the midst of a rally that pulled it out of bear market territory for the year. I noted we may have found a temporary bottom at the 12,500 level back on March 14. Now, weeks later, the index is lower but has not come close to re-testing the 2022 bottom we saw on March 14. The Feder…