Fast Monday starts right now. I'm Melissa Lee. Tonight's trader

up guyadami, Tim Seymour, Karen Finerman, and Steve Grosso coming up on Fast

Nike lower after reporting a big miss. The company's earnings call is just

getting started. We are on it.

We'll bring you all the late breaking headlines.

Also ahead, Disney under pressure,

as the company delays reopening its California theme park.

We will break down the fallout.

Plus, one top technician says it is time to double down on this

red hot sector what it is and why the charts have them feeling so bullish but we

start off with breaking news on the banks the Fed stress test results are out. Let's get straight to Leslie

with all the details. Leslie. Hey Melissa, the Fed is requiring large banks to

limit dividends and buybacks after analyzing their resiliency during the

pandemic. The Fed said that for the third quarter it is

suspending the firm's share repurchases, capping dividends, and allowing them

to proceed based on a formula derived from recent income. Now the largest banks had already ended buybacks if you

recall through the end of the second quarter but this actually takes it a step

further and the Fed will reassess those plans on a quarterly basis.

Now for the first time in the 10 years of stress testing,

banks are required to resubmit their capital plans

later this year to reflect the current environment.

Vice Chair Randall Quarrels notes in a statement that there is, quote,

...