CUOMO: The word is an interest rate hike could be coming soon. It's time for CNN money now. Chief business correspondent, Christine Romans is in our Money Center. Christine, they don't like this on Wall Street.</s>CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: It's one of the most important things out there for your money and the first interest rate hike in nine years is likely coming next month, Chris. The latest clue, the Atlanta fed president, Dennis Lockhart, told the "Wall Street Journal" barring an unexpected deterioration in the U.S. economy. The fed will raise rates in September. He says it is time. That means it will cost more to borrow money. It will cost more for your house, for a car and more in credit card interest rates. All of those things will rise. If you bought Apple stock in the last year, you do not like the look of this chart. You are losing money. Apple stocks fell 3 percent yesterday. It's now 15 percent from the April high. That's called a correction. What's the problem here? It's all about the iPhone. Apple is losing ground in China and the U.S. smartphone market is saturated. Apple is still the world's most valuable company with $200 billion just in cash in the bank -- Alisyn.</s>CAMEROTA: That's good to know, but I didn't know Apple stock was capable of falling.</s>ROMANS: What goes up must come down.</s>CAMEROTA: I guess so. Thanks so much, Christine. Ten Republican presidential candidates set to face off in the first GOP prime time debate. Who will be the night's standout? And can the other candidates trump Trump? Get it.
Higher Interest Rates Are Coming.