U.S. stock futures were lower in early morning trade on Friday following the release of the Fed’s latest bank stress-test results and disappointing quarterly numbers out of Nike.

Dow Jones Industrial Average futures were down 174 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.

The announcement sent some bank shares lower in after-hours trading. Bank of America and JPMorgan Chase both dipped more than 1.8%. Wells Fargo slid 3% and Goldman Sachs fell 3.4%. Bank stocks were coming off sharp gains, rallying more than 3% during regular trading Thursday.

Meanwhile, Nike shares slid nearly 4% after the bell on the back of a surprising quarterly loss for the apparel giant.

The company reported a loss of 51 cents per share and revenue of $6.31 billion for the its fiscal fourth quarter. Nike’s quarterly revenue reflected a drop of 38% on a year-over-year basis.

Source: CNBC