Trump's ballot box bonus plan

0:00Welcome to Seeking Alpha's Wall Street breakfast, where we cover the top news for investors every morning. It's good to be here with you on this Thursday, September 10. I'm Julie Morgan. President Trump took the stage Wednesday night at the Republican Party's first midterm convention in Dallas. During the speech, he proposed a $5,000 Trump dividend for every adult U.S. citizen. He said it'll happen if Republicans retain control of both the House of Representatives and the Senate in November's midterm elections. Trump made the pledge saying the administration could afford the payments because, quote, we've done so well and because our country is making so much money. He added that the only caveat is that the dividend must be spent in the United States of America. Of course, Congress would need to approve any legislation needed to approve the payment, but with about 270 million U.S. adults, the proposed payments would cost an estimated

1:00$1.35 trillion. U.S. National debt has top 40 trillion. President Trump also said on Wednesday that right after the election, oil prices are going to be tumbling downward. He said record-breaking prices at the pump will fall below $2 a gallon, but not until after the midterms. In addition, he said the Iran war likely will not end until after November 3rd. Trump said, quote, the war will end immediately after the election because they can't hold out any longer. This is a new narrative that Iran's strategy now is to hang on through the U.S. election. The president has routinely predicted that the Middle East conflict would wrap up quickly. We'll take a look at oil prices in just a few minutes. After months of speculation, Apple took the wraps off its new iPhone models on Wednesday, including the iPhone 18 Pro and the foldable iPhone Duo. Apple's highly anticipated entry into the foldable market was unveiled by the new CEO.

2:04The iPhone Duo is roughly the size of a passport and starts at a buck-shy of $2,000. The iPhone 18 was also unveiled. The Pro elevates AI and camera capabilities. The new Apple Watch series 12 and Ultra 4 introduces a new health sensing system that tracks vitals like heart rate significantly more frequently than current models. They also debuted privacy-focused audio intelligence features, including live rewind, which transcribes the last 15 seconds of spoken audio. In addition, the new AirPods 5 has 50% more noise reduction than previous models. Now for a look at a few other articles that are trending, the FDA is investigating a Salmonella outbreak linked to broccoli sprouts. AI spending cools at the biggest firms as model wars intensify. And open AI's rogue agents reportedly used at least 10 more sites for unauthorized communication.

3:08On our catalyst Watch, New York Fashion Week begins today, brand showing off their designs at runway or media events include Ralph Lauren, Tapestry's Coach, PVHS Calvin Klein and Tommy Hill figure, Tori Birch, Capri Holdings Michael Coors, and Gap with a much bigger presence than usual for the Gap Banana Republic, Athleta, and Old Navy brands. On Wall Street, stock index futures are in mixed territory. Food oil is up 1.2% at $97 a barrel. Brent Crude is up 0.9% at $102 a barrel. The FTSE 100 is down 0.4% and the DAX is down 0.2%. American Eagle Outfitters is on our biggest mover's list. AEO is down 11% despite the retailer beating Q2 Expectations, with sales rising 9.4% over a year.

4:09Profit rose 34% at 79 cents per share, but the result included nearly $200 million in terror-free funds. And a few items for you on today's economic calendar at 8.30 a.m. jobless claims at 10 a.m. existing home sales and at 4.30 p.m. the Fed balance sheet. That's it for today's Wall Street breakfast. Thanks for listening. To take full advantage of Seeking Alpha, join the highest quality community of real investors discussing stocks and ETFs at SeekingAufa.com slash subscriptions. I'm your host Julie Morgan. Go out and make it a great day.