U.S. stock futures were lower early Friday after bank stress test results

By Amwal Al Ghad English On Jun 26, 2020

U.S. stocks — Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 28, 2018. REUTERS/Brendan McDermid

U.S. stock futures were lower early Friday following the release of the Federal Reserve’s latest bank stress-test results and disappointing quarterly numbers out of Nike.

Dow Jones Industrial Average futures implied an opening decline of nearly 100 points, while S&P 500 and Nasdaq-100 futures also traded in negative territory.

The moves came after the Fed’s annual stress test of the major banks showed some banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic. Because of this, banks must suspend share repurchase programs and keep dividend payments at current levels for the third quarter.

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