DALLAS, TEXAS – SEPTEMBER 9: US President Donald Trump speaks on stage during the first day of the 2026 Republican National Convention at the American Airlines Center on September 9, 2026 in Dallas, Texas. US President Donald Trump will headline the first-ever midterm convention of the Republican National Committee, aiming to highlight his administration’s accomplishments and drum up support for Republican candidates, just two months before the next election on November 3. (Photo by Justin Sullivan/Getty Images)
Justin Sullivan | Getty Images News | Getty Images
Hello, this is Leonie Kidd from London. Welcome to another edition of CNBC’s Daily Open.
Cash payments can be an eye-catching political promise, but the Trump administration’s track record so far has been mixed.
During the coronavirus era, $1,200 stimulus checks were distributed to certain individuals across America. But last year’s promise to give $2,000 “tariff dividends” to countries most severely affected by President Donald Trump’s trade policies did not materialize.
The strategy is back in the headlines with a new promise to all American voters if they can get President Trump what he wants in the midterm elections: control of Congress.
Read more.
What you need to know today
President Donald Trump has promised to pay a $5,000 “dividend” to every adult American if Republicans win the midterm elections and retain their majorities in the Senate and House of Representatives.
With America’s adult population at about 260 million people, according to the 2020 Census, fulfilling that promise would cost about $1.3 trillion.
Such payment promises are not new to the Trump administration, but their implementation has varied. During the coronavirus-era 2020 stimulus payments, $1,200 checks signed by Trump were delivered to certain individuals. However, another promise of a $2,000 “tariff dividend” never materialized.
After the midterm exam…
President Trump was speaking at the Republican midterm convention in Dallas, Texas.
“Immediately after the election, oil prices will fall,” he told reporters just before the event. He added that the war with Iran, now in its seventh month, would end “immediately after the elections.”
market pressure points
Wednesday was another red day for Wall Street, with the Dow Jones Industrial Average dropping 400 points, adding to three days of losses. That streak could come to an end in Thursday’s trading, with futures expected to rise ahead of the release of wholesale inflation data and new jobless numbers.
Rising Treasury yields continued to weigh on the U.S. stock market after the Treasury announced it would buy back up to $6 billion of long-term government bonds, three times the usual amount.
In Europe, all eyes were on the ECB today, with Governor Christine Lagarde “almost certain” to oversee a rate hike of at least 25 basis points.
Beware of complacency
Bend it like Apple
Apple’s foldable iPhone duo stole the show at the tech giant’s Surprise and Shine event in Cupertino, California.
New CEO John Ternas made his debut, announcing a series of new products including the iPhone 18 Pro, AirPods 5, Apple Watch Series 12, and the long-awaited Duo (the company’s first foldable phone).
The high price tag, starting at $1,999, raised some eyebrows, and the stock fell in afternoon trading, but rose some after hours.
— Leonie Kidd
