CNBC Daily Open: The Trump 'Dividend': $5,000 for control of Congress
The promise of a payment, and a claim oil will "come tumbling down" are the key takeaways from President Trump's speech at the Republican's convention.
TL;DR
- Donald Trump promises a $5,000 dividend to all adult Americans if Republicans win the midterm elections.
- The potential cost of this promise is estimated at $1.3 trillion.
- Previous payment promises from the Trump administration, like the "tariff dividend," were not fulfilled.
- Trump also claimed oil prices would fall and the war with Iran would end after the election.
- Wall Street experienced declines, with futures indicating a potential rebound.
- The European Central Bank is expected to implement a rate hike.
- UBS CEO Sergio Ermotti warned against investor complacency.
- Apple unveiled new products, including a foldable iPhone called Duo, priced at $1,999.
- Samsung is trying to attract iPhone users to its foldable phones as Apple enters the market.