Apple's new CEO, G20 meetings continue, the FTC sues Amazon and more in Morning Squawk

Happy Tuesday. If you ran into some technology troubles at work yesterday, you weren't alone.

Stock futures are down this morning. The market is coming off a losing day.

Here are five key things investors need to know to start the trading day:

John Ternus officially takes over as CEO of Apple today. He succeeds Tim Cook, who will step into the executive chairman role after 15 years at the helm of the technology titan.

As CNBC's Kif Leswing writes, we haven't heard much from Ternus since the succession plan was announced in April. He made only a small appearance on Apple's earnings call last month, when he was asked a question directly by an analyst. But the world will get to see more of Ternus next week at Apple's annual launch event, where the company is expected to reveal its new iPhone and Apple Watches.

On his last day as CEO, Cook said yesterday that he was "excited for the next chapter." He wrote in a post on X, "My title changes tomorrow, but the love I have for the Apple community never will."

Bond yields around the world are rising this morning, pushed higher by inflation concerns and oil prices that continue to climb amid the Iran war. The 10-year Treasury note hit its highest level since January 2025.

Here's what to know:

• Brent crude prices jumped above $90 per barrel yesterday as strikes by both the U.S. and Iran reescalate the conflict. A tanker transiting the Strait of Hormuz was also hit by three unknown projectiles, the UK Maritime Trade Operations agency said last night.
• President Donald Trump said his Venezuela oil deal would bring down fuel prices, but experts aren't convinced drivers will feel near-term relief. It would take years to increase the nation's oil output, they told CNBC's Spencer Kimball, cautioning that the deal may not last that long.
• Trump is set to meet with U.S. oil refiners and distributors today as he continues to push for lower fuel prices.
• Rising oil prices weighed the market in Monday's session, but the three major indexes were still able to log gains for the month of August.
• Stock futures are lower this morning to kick off September, a historically cruel month for investors. Follow live market updates here.

Meetings between finance ministers from the Group of 20 countries continue today in North Carolina. The agenda includes a fireside chat with Fox Business' Larry Kudlow — the former director of the National Economic Council — and a press conference with Treasury Secretary Scott Bessent.

The Treasury chief told reporters yesterday that the U.S. has "to grow our way out" of its debt pile. Federal Reserve Chairman Kevin Warsh also focused on growth in brief remarks to the gathering of international finance leaders, calling the current period "one of secular growth" and "one of a global investment surge."

In an interview with CNBC's Sara Eisen, Bessent also responded to Stanley Druckenmiller's critique of the Treasury Department's intervention in the bond market, saying the billionaire investor "changes his mind a lot."

The Federal Trade Commission and 22 state attorneys general are taking Amazon to court.

In a lawsuit filed yesterday, the group alleges that Amazon "secretly and systematically overcharged" advertisers through price manipulation. The suit also claims that Amazon may have raked in more than $20 billion via "hidden surcharges" going back to a change in its auction rules from 2019.

FTC Chairman Andrew Ferguson said in a statement that the higher costs facing advertisers "were largely passed on to American consumers." Amazon in a blog post slammed the lawsuit as "misguided," saying it "fundamentally misunderstands how advertisers operate." Shares of the e-commerce giant fell 2.5% in yesterday's session.

After years of success in China, so-called livestream shopping is becoming all the rage in the U.S. Apps like TikTok and Whatnot are largely to thank.

The U.S. industry is forecast to see almost $20 billion in sales this year, according to eMarketer, more than double 2024's figure and a roughly 35% year-over-year increase.

As CNBC's Ryan Baker reports, livestream shopping can act as a bridge between brick-and-mortar and digital retail. While the U.S. market is quickly gaining steam, it's still dwarfed by China's.

Trump brushed off the brewing backlash to artificial intelligence data centers yesterday. Here's what he wrote in a Truth Social post:

— CNBC's Ashley Capoot, Jonathan Vanian, Sean Conlon, Hugh Leask, Justina Lee, Chloe Taylor, Spencer Kimball, Luke Fountain, Lee Ying Shan, Tobias Burns, Kevin Breuninger, Jeff Cox, Annie Palmer, Dan Mangan and Ryan Baker contributed to this report.

Luke Fountain assisted in the production of this newsletter. Josephine Rozzelle edited this edition.