Apple's foldable phone, Macy's earnings, Treasury buybacks and more in Morning Squawk

This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.Happy Thursday. The NFL is going Down Under. The San Francisco 49ers and Los Angeles Rams will face off tonight in Melbourne in the league's first regular-season game in Australia.Stock futures are down this morning. All three major averages closed Wednesday's session lower.Here are five key things investors need to know to start the trading day:1. After the electionUS President Donald Trump speaks to reporters before boarding Air Force One at Joint Base Andrews in Maryland on Sept. 9, 2026. Brendan Smialowski | AFP | Getty ImagesAs Brent crude futures hovered above the $100 a barrel mark yesterday, President Donald Trump told reporters that elevated oil and gas prices won't come down until after November's midterm elections. He also predicted that the Iran war will end "immediately after the election."Here's what to know:Brent futures topped $101 per barrel Wednesday, closing at its highest level since May amid growing worries that renewed fighting between the U.S. and Iran would further disrupt oil supplies.U.S. West Texas Intermediate futures also jumped above $100 a barrel this morning, sending stock futures tumbling. Asked how he plans to explain persistently high energy prices to Americans, Trump said yesterday: "I think it's very easy to explain to America. All you have to do is say, 'Will you let Iran have a nuclear weapon?' And the answer is no."The president threatened Tehran in his speech to the GOP midterm convention last night, warning Iran "not to get cute" in reference to activity at Pickaxe Mountain, a suspected Iranian nuclear site.Follow live market updates here.2. Into the foldApple’s new iPhone Duo is on display during the “Surprise and Shine” event at the company's corporate headquarters, Apple Park, on September 9, 2026 in Cupertino, California. Benjamin Fanjoy | Getty ImagesApple officially joined the foldable phone race yesterday.The company's newly-minted CEO John Ternus unveiled the iPhone Duo at its annual product launch in Cupertino, California. The passport-sized device opens into a 7.6-inch display and starts at $1,999 — below the price point Wall Street expected. It will be available for purchase on Oct. 23.But that wasn't Apple's only announcement. The tech giant showed off its new AI-powered Siri, the A20 Pro chip and an Apple Watch feature that can listen to, summarize and recall parts of conversations. The iPhone 18 Pro and Pro Max are also getting a $100 price hike compared to last year's models, as the company contends with higher component costs. Catch up on everything Apple announced here. 3. Buy it backTreasury Secretary Scott Bessent answers questions during the 2026 G20 Financial meetings on Sept. 1, 2026 in Asheville, North Carolina.Melissa Sue Gerrits | Getty ImagesThe Treasury Department said yesterday that it will buy back up to $6 billion of government debt, triple the normal level, as it looks to stabilize the bond market. Future operations will total at least $4 billion, it said.The move comes after a brutal stretch for Treasury yields, which have recently hit highs not seen since before 2008. But the Treasury's announcement Wednesday appeared to do little to calm the market: The benchmark 10-year Treasury yield climbed to above 4.8%, its highest level since November 2023, after the news.Hours later, Treasury chief Scott Bessent spoke at the Republicans' midterm convention in Texas, an unusually political move for a sitting Treasury secretary. As CNBC's Matt Peterson writes, Bessent's partisan appearance could raise questions about his credibility, which analysts say is crucial to the Treasury's bond market operation.4. Department checkA person exits the Macys Flagship store in New York City on January 14, 2025. Macy's declined 2.4% to $4.7 billion during the third quarter of their Overall sales which ended Nov. 2, 2024, giving as result that 66 of the approximately 150 locations of the company will close by 2026, Closing any store is never easy, but as part of our Bold New Chapter strategy, says chairman and chief executive officer of Macys, Inc. Tony Spring. (Photo by Eduardo MunozAlvarez -VIEWpress/Getty Images)Eduardo Munoz Alvarez | Corbis News | Getty ImagesShares of Macy's are 5% lower this morning despite a strong report from the retailer, which posted 2.7% overall comparable sales growth for the second quarter. The company also hiked its full-year forecast for both net and comparable sales, as well as its outlook for full-year earnings per share.Macy's said its redesigned stores helped boost its results for the period. It also reported receiving $116 million in tariff refunds, $96 million of which it will invest in the customer experience and its turnaround initiative."I think it's a different Macy's Inc. today," CEO Tony Spring told CNBC. As CNBC's Laya Neelakandan notes, the retailer is approaching the end of its three-year turnaround plan as it looks to return to growth amid a tough backdrop for department stores.5. Now showing"Spider-Man: Brand New Day" and "The Odyssey."Sony (L) | Universal (R)Hollywood just had its biggest summer ever, at least in dollar terms. The domestic box office brought in a record $4.76 billion between May 1 and Labor Day, powered by hits including "Spider-Man: Brand New Day" and "The Odyssey." But the record masks just how much the movie business has changed. There are fewer wide releases, fewer screens and fewer moviegoers than before the pandemic. What has gone up is the price of going to the movies: The average standard ticket now costs about $12.75, compared with $9.16 in 2019, while premium screenings can run significantly higher.Read CNBC's Sarah Whitten's full story on what the record summer really tells us about moviegoing.The Daily DividendTrump made a new promise during his midterm convention speech last night: $5,000 for every adult U.S. citizen if Republicans retain control of both the House and Senate in November. He did not explain how the proposal, which would likely face legal challenges, would be funded or implemented. Such a payment would likely cost more than $1 trillion.Here is my promise: If the Republicans win the House of Representatives and the United States Senate... I will issue a dividend to every adult citizen in the United States of America for $5,000.— CNBC's Lee Ying Shan, Chloe Taylor, Justina Lee, Garrett Downs, Anniek Bao, Spencer Kimball, Kevin Breuninger, Kif Leswing, Katie Tarasov, Isabel O'Brien, Jeff Cox, Steve Liesman, Matt Peterson, Laya Neelakandan, Sarah Whitten and Alex Sherman contributed to this report.Josephine Rozzelle edited this newsletter.