GoKawiilThis is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Happy Wednesday. Don't miss CNBC's interview with Wells Fargo CEO Charlie Scharf today at 10 a.m. ET. Watch live on CNBC or CNBC+. Stock futures are lower this morning after a losing day for all three major averages. Here are five key things investors need to know to start the trading day:
1. The Apple cart
John Ternus, Apple Senior Vice President of Hardware Engineering, introduces the new M2 microprocessor at Apple's WWDC 2022 developer conference at the company's headquarters, Apple Park, in Cupertino. Christoph Dernbach | Picture Alliance | Getty Images
Apple's annual product event is today, and between its new CEO's debut and expectations for a major iPhone update, it's set to be a big one. Here's what to know ahead of the event: Analysts expect Apple to debut its first-ever foldable iPhone today. Such a product from Apple would be up against Samsung — the foldable market leader — as well as Chinese producers Xiaomi and Huawei.
Bank of America said Tuesday that it is bullish on Apple ahead of the event, reiterating the stock as a buy as the prospect of a foldable iPhone stays top of mind.
Analysts will also be listening to see whether Apple raises prices on any of its products following hikes to its MacBook and iPad price tags in July.
The event doubles as a debut of sorts for John Ternus, who officially took over as CEO last week.
CNBC will cover the 1 p.m. ET event live, online and on TV.
2. $100 a barrel
Traders work on the floor of the New York Stock Exchange during afternoon trading on Sept. 3, 2026 in New York City. Michael M. Santiago | Getty Images
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