July 11, 2020
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US banks “float in money” as deposits against the backdrop of coronavirus increase by $ 2 trillion

5 Things to Know Before Opening the Stock Market Friday

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1. Dow futures are down along with bank stocks, Nike stocks are down

At the end of Thursday, the Fed imposed limits on the payment of dividends and the suspension of the repurchase of shares in major US banks after an annual stress test of the banking industry found that some institutions may be uncomfortably close to the minimum capital levels in scenarios associated with the coronavirus pandemic.

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Nike, often called one of the world’s leading retailers, announced Thursday night that it had unexpectedly lost 51 cents a share in the fourth fiscal quarter and a 38% decline in revenue over the same period last year. Online sales, which accounted for nearly a third of total revenue, rose 75%, but this was not enough to offset the temporary closure of their stores by coronaviruses.

2. Texas, Florida, suspend plans to resume coronavirus

New daily Covid-19 infections peak in more than 31 states, including Texas and Florida, which has suspended their plans for discovery. According to an average seven-day analysis conducted by CNBC according to Johns Hopkins University, on Wednesday 12 new states reached a record high in new cases.

As the total number of cases in the USA. exceeded 2.4 million, Centers for Disease Control and Prevention said the true number of US cases maybe 10 times higher. With a lot more young people getting the virus, CDC now advises that people of any age with certain underlying diseases, and not just people over 65, are at increased risk of serious illness.

3. Trump says the economy is “roaring backwards”, there is no stopping

President Donald Trump speaks during a rally at the BOK Center on June 20, 2020 in Tulsa, Oklahoma.

Nicholas Camm | AFP | Getty images

Even with the skyrocketing incidence, President Donald Trump remains adamant that the situation with coronavirus remains under control. In his tweet around midnight, Trump said the US economy is “taking off” and will no longer be closed.

The Trump administration, despite the pandemic, is asking the Supreme Court to overthrow Obamacare, arguing that the 2010 health insurance mandate is unconstitutional. Prospective Democratic presidential candidate Joe Biden, who was vice president when Obamacare was signed up, said he would defend and strengthen the program if elected.

4. Chief executives of airlines will meet with a pension on Friday

Protective masked travelers cross the Ronald Reagan National Airport (DCA) in Arlington, Virginia, USA on Tuesday, June 9, 2020.

Andrew Harrer | Bloomberg | Getty images

Leaders of major US airlines are scheduled to meet Friday with Vice President Mike Pence and other senior US officials in Washington. Carriers insist the Trump administration requires passengers to check the temperature of the coronavirus to assure customers of the safety of air travel. On Thursday, unions representing tens of thousands of airline employees turned to lawmakers for $ 32 billion in additional government assistance to keep their jobs until the end of March. Pandemic and mitigation efforts have destroyed the aviation industry.

5. Ford unveils the technically new F-150 pickup

The affordable 7.2 kW onboard generator, which Ford calls the “Pro Power Onboard”, is equipped with four 120 V 20 A sockets and one NEMA L14-30R 240 V 30 A on a 2021 Ford F-150. The truck is available with three levels of electric power depending on the choice of engine.

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Ford shares, which fell more than 30% this year, were higher at the premarket on Friday after the struggling automaker unveiled its new F-150 pickup. The 2021 version of the insanely popular truck is equipped with technical features, including hands-free control and an integrated power generator. The new pickup, available in traditional and hybrid models, should start arriving at dealerships this fall. On Thursday evening, the launch of the F-150 in 2021 will happen when Ford implements a $ 11 billion restructuring plan and a pillar for emerging automotive technologies such as fully electric and autonomous vehicles.

Reuters and NBC News have contributed to this report. Keep track of all Wall Street events in real time with the CNBC live blog. Get the latest pandemic news with our coronavirus blog.

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