Our Kristina Partsinevelos covers Micron&#x27;s results in the latest test for the AI rally. Julian Emanuel of Evercore assesses the broader market backdrop and explains how Micron fits into the next phase of the AI trade. Mehdi Hosseini of Susquehanna reacts to the earnings report and outlines why he remains bullish on the company&#x27;s outlook. UBS analyst John Lovallo explains how yields, housing earnings and policy developments are reshaping the housing market. Casey&#x27;s CEO Darren Rebelez discusses the state of the consumer, spending trends across the Midwest and why pizza sales can provide a unique window into the economy.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Closing Bell Overtime: Micron Passes Latest Test for AI Stocks; Casey’s CEO on Recent Strength 6/24/26

Closing Bell

# Full Transcript

**Podcast:** Closing Bell

## Participants

- **Mike Santoli** (None)
- **Leslie Picker** (None)
- **Darren Rebelez** (Casey's General Stores)
- **Christina Partsinevelos** (CNBC)
- **Julian Emanuel** (Evercore)
- **Mehdi Hosseini** (Susquehanna)
- **John Lovallo** (UBS)
- **Mackenzie Sigalos** (CNBC)
- **Kate Rooney** (CNBC)
- **Brandon Gomez** (CNBC)

## Transcript

The Bell is bringing an end to the trading day at the NYSE DT Midstream and at the NASDAQ. Casey's General Store is doing the honors. CEO Darren Rebelez will join me a little later on in the hour. Welcome to Closing Bell Overtime live from Studio B at the NASDAQ Market Site. I'm Mike Santoli. Melissa Lee is off today. Stocks were mixed once again. The Dow and the Russell 2000 gaining S&P 500 down just slightly, actually with a little rally into the close.

The NASDAQ composite down for the third straight day about four tenths of one percent. Home Depot and Sherwin-William, the top performers on the Dow today. The number of factors boosting housing related stocks, including earnings from KB Home as well as a decline in long term treasury yields. More on all that coming up. We are also waiting for results from Micron as that stock falls again ahead of those numbers, but well off its lows for the day, finishing off just by about a third of a percent.

And we begin this hour with breaking news, the results of bank stress tests. Leslie Picker is here with all the details. Leslie. Hey, Mike. The Fed stress test found that all 32 banks remained above their minimum requirements against a hypothetical recessionary scenario. The firms absorbed more than $708 billion in total loan losses and capital declined only about 1.6 percentage points in aggregate.

However, this year's results won't impact the bank's required capital levels. In February, the Fed voted to maintain the current requirements at each bank until 2027 when the new rules can be calculated based on public feedback. The test itself was pretty similar to the one from last year. This year's included a hypothetical global recession with an unemployment rate peaking at 10 percent and a 39 percent and 30 percent decline in commercial real estate and housing prices respectively.

Factors that impacted the results, including lower unrealized gains in bank securities due to the test having a smaller hypothetical declines in interest rates. Additionally, bank balance sheets went into the test with higher loan balances and higher interest income due to just recent financial performance. Under the hypothetical scenario, 29 percent of the $708 billion in losses would stem from credit cards, another 22 percent from commercial and industrial loans, and 11 percent from commercial real estate.

And again, just to reiterate, this test is just for academic purposes. It doesn't impact capital requirements this year. But we should see releases from the individual banks about their dividend and buyback plans within the next few day...

Closing Bell Overtime: Micron Passes Latest Test for AI Stocks; Casey’s CEO on Recent Strength 6/24/26

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Closing Bell Overtime: Micron Passes Latest Test for AI Stocks; Casey’s CEO on Recent Strength 6/24/26

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.