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Stock Futures are Flat After Bank Stress Test Results, Nike Reports Surprise Loss

Stock Futures are Flat After Bank Stress Test Results, Nike Reports Surprise Loss

Stock Futures are Flat After Bank Stress Test Results, Nike Reports Surprise Loss

U.S. stock futures were mostly flat on Thursday night 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 dipped 67 points, or 0.3%. S&P 500 and Nasdaq-100 futures traded marginally above the flatline.

The Fed’s annual stress test of the major banks shows 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. Read more…………..

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Mohamed El-Erian, chief economic advisor at Allianz, joins “Squawk Box” to discuss Wednesday’s market plunge as well as the prospects for an economic and financial recovery from the coronavirus crisis.

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