This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future issues in your inbox. Happy Wednesday. Don’t miss CNBC’s interview with Wells Fargo CEO Charlie Scharf today at 10 a.m. ET. Watch it live on CNBC or CNBC+. Stock futures are lower this morning after a day of losses for all three major averages. Here are five key things investors should know to start the trading day:1. The Apple Cart John Ternus, Apple’s senior vice president of hardware engineering, introduces the new M2 microprocessor at Apple’s WWDC 2022 developer conference at the company’s Apple Park headquarters in Cupertino. Christopher Dernbach | Image Alliance | Getty Images Apple’s annual product event is today, and between the debut of its new CEO and expectations of a major iPhone update, it’s going to be a big one. Here’s what you need to know ahead of the event: Analysts expect Apple to unveil its first foldable iPhone today. Such a product from Apple would take on Samsung, the market leader in foldable products, as well as Chinese producers Xiaomi and Huawei. Bank of America said Tuesday that it is bullish on Apple ahead of the event, reiterating that the stock is a buy as the prospect of a foldable iPhone remains a priority. He finished as CEO last week. CNBC will cover the 1 pm ET event live, online and on television.2. $100 a barrel Traders work on the floor of the New York Stock Exchange during afternoon trading on September 3, 2026 in New York City. Miguel M. Santiago | Fake images3. Economic Warfare Flags of Canada and the United States fly across the international border on the Gordie Howe International Bridge connecting Windsor, Ontario, Canada and Detroit, Michigan, on September 6, 2026. Jeff Kowalsky | afp | Getty ImagesThe White House announced last night that President Donald Trump signed a series of proclamations banning the import of certain Canadian products, including some motorcycles and alcoholic beverages. News of the new import restrictions, which take effect on September 29, came on the same day that Canada’s retaliatory tariffs on the United States came into force. Trump also changed the list of products subject to 50% tariffs in what U.S. Trade Representative Jamieson Greer called a “natural consequence of Canada’s continued discriminatory treatment of crucial U.S. exports.” That wasn’t the only economic action the United States took yesterday. The Treasury Department on Tuesday sanctioned 27 Iranian airlines and some other companies in its attempt to squeeze Tehran’s economy. It is part of a broader U.S. effort, called “Operation Economic Pariah,” aimed at disrupting Iran’s financial health. Get Morning Squawk delivered straight to your inbox4. Muse by MetaSamuel Boivin | Nurfoto | Getty ImagesMeta on Tuesday unveiled its personal agent app called Muse, which it said can perform tasks like booking appointments and filling out forms. Users can access the app through a free tier or with a monthly subscription plan, which ranges in price from $20 to $100. Alexandr Wang, head of artificial intelligence at Meta, told CNBC that the app runs within “its own sandbox” and “never sees” details like passwords or payment information. Wang also said that Muse “feels very accessible, friendly and explainable.” As CNBC’s Jonathan Vanian notes, the product comes as Meta faces a broader public reckoning, with legal implications, stemming from its privacy and security policies. At the same time, Meta is also under pressure from Wall Street to prove that it can generate returns from its huge investments in AI.5. Trump’s briefcaseA press conference with President Donald Trump is seen on a television monitor on the floor of the New York Stock Exchange in New York, April 6, 2026.Michael Nagle | Bloomberg | Getty Images Trump’s biggest oil and gas holdings have earned millions of dollars since the war with Iran broke out. A CNBC analysis found that the president’s nine top positions in the sector increased between $1.5 million and $4.4 million between the eve of the conflict and the end of August. As CNBC’s Luke Fountain reports, Trump’s accounts have continued to trade energy stocks like ExxonMobil and Chevron throughout the conflict. Some transactions were made on days when Trump’s announcements caused notable swings in energy markets. CNBC found no evidence that Trump directed the transactions or that his investment managers had advance knowledge of the president’s decisions. The Trump Organization has said that Trump’s asset managers use automated trading. The White House said independent managers oversee its portfolio. Daily DividendCNBC’s official 2026 NFL team ratings fell this morning. Here are some of the key numbers: Average team value: $10.36 billion Year-over-year increase: 35%. Kif Leswing, MacKenzie Sigalos, Arjun Kharpal, Michael Bloom, Sarah Min, Lee Ying Shan, Spencer Kimball, Anniek Bao, Kevin Breuninger, Chloe Taylor, Jonathan Vanian, Luke Fountain and Michael Ozanian contributed to this report. Josephine Rozzelle edited this edition.
