>> here is your top five at five new risk to the markets and your money as president trump now faces a formal impeachment inquiry. the announcement and series of events leading up to it moving markets. the push and the pull not just coming from d.c. the ceo of wework steps down the u.s. vaping crack down

heating up as yet another state takes a hard line on e-grets d e-cigarettes and the industry leader announces a shake up. "worldwide exchange" begins right now. >> welcome get ready for a big day on wall street peaceful now but sure to change as the houston kicks off that formal impeachment inquiry let us see how the markets have been taking the news we are seeing futures down but not that much. do you off 41. it is early. very thin markets what happens

on capitol hill does have a direct impact on your money. check out the reaction on the dow yesterday. we saw pelosi announcing the impeachment around noontime, we saw an immediate drop. not just that, keep in mind you had trump comments and weaker stocks there come down bond yields have come up we ha we are seeing the benchmark 10-year move 1.64% looking at world markets in asia, we saw losses across the board. hong kong down by 1% the german dax and index is

down world reacting here. let's get more to the news the white house is preparing to release the transcript of president trump's call with the president of ukraine all amid house speaker pelosi's formal impeachment announcement. going to tracie potts with more. >> reporter: now everything here forward the democrats do, their investigations, inquiries, all part of a formal process to determine whether president trump broke the law. house speaker nancy pelosi made it official, democrats are opening an impeachment requirery. >> the president must be held accountable. no one is above the law. >> reporter: moving forward after an urging of 75% of the democrats. >> i have no idea.

it's a witch hunt. >> what turned the tide, a phone call with the president of the ukraine. eye whistle-blower said president trump threatened to cancel aid in response for to information for joe biden and his son. >> i feel like when you see this transcript, the president will be vindicated and prove he's done nothing wrong >> impeachment isn't a crime it is a charge this allows lawmakers to gather evidence and interview others. we'll make sure the whistle-blower is protected. battle lines drawn >> we must not wait. now is the time to act >> republicans argue this is about the democrat's loss in the last election. >> they should have given up

then >> the director of national intelligence testifies tomorrow. >> the president will meet with the man he talked to on the phone, the leader of ukraine to the political problems across the atlantic. the country's supreme court could reopen to discuss brexit willem is standing by. >> reporter: a pretty skaching report saying boris johnson had acted in an unlaw fult manner suspending parliament. within an hour or so, the house of common's speaker decided to reopen parliament. as you might imagine, critics calling for his resignation.

here is the challenge as mps return today no clarity about what happens next johnson says he wants the election jeremy corbyn says not right now until he's sure a hard brexit has been ruled for out for the end of october a possibility of a second vote all pushing for a general election as soon as possible it will be interesting to see how those views solidify and i'm sorry, there is a huge amount of uncertainty of the future once again. >> it is possible october 31, we do get the brexit but that is now called into question it is hard to understand >> reporter: there is a

possibility boris johnson will get the concession from brussels he's talked about and there is a possibility he will get the majority of lawmakers to vote through a fresh version of the deal the challenge is, he is residing over a minority government he can't guarantee those votes going into a european council meeting in mid-october, they'll be asking why should we give this guy a break how do we know he can deliver? >> willem in the uk, thank you that impeachment inquiry and possibility of a no-deal brexit, just two of the items on the list of investor unknowns. including things like the china trade deal and the thing we don't know, so-called black swan here to help us with it all,

joe, welcome anything going on? >> quiet morning >> the market moved yesterday but the dow didn't fall 800. it fell under 200. we need to remember that what do you think will be the ultimate outcome i don't want to make it political but as the democrats move forward, will themarkets react or stay where it is because people believe even if he is impeached, he will be charged and a crisis is exceptionally low. >> this is just an announcement that is more of a political note the house has to vote for impeachment, which is likely but

they haven't done it yet once that happens, then you get the powers that go with the inquiry. but it is a long, grinding process. the thing i do worry about is its effects on consumers and on spending americans don't like the shenanigans. >>d.c. is dominating our daily news it wasn't that way ten years ago. >> no, it wasn't if you look at what happened over that government shut down, they took a real hit if this grinds on like that, it will be a problem. >> if trump is impeached, he'll

be the fourth. i don't know the market impact of andrew johnson. >> one vote. >> my game is strong but let's forget andrew johnson. the market bottoms with nixon and in 1998, with clinton, we saw things boom but the internet was booming. >> i think it probably is. you don't know -- once you start down a road like this, can you never be sure where it leads you can't be sure what a house, if they start getting inquiries, there is always a possibility of something coming out that is

damaging that will affect the markets >> the markets also predicted the on line betting site saying don't worry, they control the senate we don't know what they would do maybe up trump has made enemies. we have no idea how those individuals may vote do we need to place a greater risk, at least a little bit. if we have a president ultimately removed from office, that's a shock that's a shock a negative risk factor you would see the yields come off and be looking at all sorts of depression talk that type of event would really impact consumers >> that's what i want to be clear of if this is that far along the

way, americans may say, hey, we better not buy a house let's not buy a car. we don't know. it sort of par lies the country with a 16-point font on top of the newspaper. >> you are right that's one of the things that should be considered as far as the effects of this going forward. the market has not priced in any real risk for this yet >> do you think it will? >> not yet but it could in a few weeks if it continues. >> joe, good morning good to see you. another development in the wework saga. ceo stepping down. he will stay on as chairman. cfo and vice chairman will take over as co-ceos. this comes amid a worsening

relationship with softbank >> i don't want to use difficult. when things change, there is something beautiful about masa's and my relationship is how we communicate. we are just getting started on a very busy "worldwide exchange." the u.s. vaping industry intensifies. juul is starting to feel the pressure all eyes on nike the stock expected to open at all-time highs we'll tell you why, coming up.

woman: what gives me confidence about investment decisions? rigorous fundamental research. with portfolio managers focused on the long term. who look beyond the spreadsheets to understand companies, from breakroom to boardroom. who know the only way to get a 360 view is to go around the world to get it. can i rely on deep research to help make quality investment decisions? with capital group, i can. talk to your advisor or consultant for investment risks and information.

talk to your advisor or consultant >> i'm not your charity case. >> i am not your excuse to buy a new dress for the annual fundraiser. >> i am not the poster child for your big donation. >> i am out of debts and in my own home.

>> i am off opioids. >> i'm graduating on time and on my way to a great job. >> i am. >> we are. >> what it means to live united. >> good morning. it is 5:16 on the east coast welcome back good to see you. there are three major developments today another state moving to restrict sales. u.s. health officials will testify at a hearing and juul is feeling the pinch. we'll get the details on all of these headlines. >> the challenges for juul and companies like this have ramped

up massachusetts announcing it will ban the sale for four months declaring a public health emergency. illinois also considering a ban on some products yesterday, the cdc urged people not to use the products until more is known about a mysterious lung disease that has killed more than nine people. a representative saying juul's use of nicotine salt is especially dangerous to teenagers. also yesterday, israel has issued a ban india has blocked sales and china placing restrictions as

well here at home, you have that federal probe in california. a group of lawmakers who want a ban immediately. some signs yesterday that juul is feeling the pressure, the company says it is cutting back on staff and hiring amid all of the regulatory head wins we expect more commentary today. >> anymore details on the shake up >> we have 3,900 staff >> 3,900 >> yes they have cut back on hiring it makes sense why they would need to. >> i would say if the product you make is possibly going to be ruled illegal everywhere, you do not have a product or a company.

certainly things are moving in that direction >> on deck, china problems don't tell nike. sales surging there. serena williams has a big warning for any would be nike competitors. >> the main inthg i learned is don't get in nike's space because they do it well. mu... l? cut. liberty mutual customizes your car insurance so you only pay for what you need. cut. liberty m... am i allowed to riff? what if i come out of the water? liberty biberty... cut. we'll dub it. liberty mutual customizes your car insurance so you only pay for what you need. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

my bladder leak underwear.orried someone might see so, i switched. to always discreet boutique. its shape-hugging threads smooth out the back.

so it fits better than depend. and no one notices. always discreet. servicenow put our this changes everything. you're right sir... everything. no not everything, i mean you're still blatantly sucking up to me gary. brilliantly observed, sir. always three steps ahead. six steps ahead. sixteen. so many steps. you done? a million steps ahead. servicenow. works for you. doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

>> we got shoes, phones and more topping sales on wednesday nike did better than expected first quarter results. china sales jumped 22% ceo mark parker said the company has seen double digit growth in china every quarter for five years. nike shares up they'll likely hit a new record high >> two, at&t officer says the company does not plan to sell direct tv. saying the company is key to the plans. there was word the company was considering parting ways. >> three, cintas beastioosting t

for the year you go bending to pressure from masa. later, bitcoin what crypto did yesterday. down 175 we are back after isth who forget they're in public. and you should be mad at simple things that are unnecessarily complicated. but you're not mad, because you're trading with e*trade, which isn't complicated. their app makes trading quick and simple so you can strike when the time is right. don't get mad, get e*trade and start trading today.

dow futures are down now we are seeing futures accelerate their losses a bit after headlines of impeachment inquiry. we'll talk about this, your market and your money. more after this short break. memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

with sofi, get your credit cards right- by consolidating your credit card debt into one monthly payment. and get your interest rate right. so you can save big. get a no-fee personal loan up to $100k.

>> could impeachment sink the president, your market and your money? where does it go from here we'll hit all the money on gels. the vaping crackdown another state banning all e-cigs for four months. will the once hot ipo get fired up again you are watching "worldwide exchange" on cnbc. ♪ >> good morning and welcome back thank you for being here on an incredibly busy waeednesday morning. i'm brian sullivan

be happy we are not seeing bigger declines. an implied open off because it is early when the word impeachment first hit yesterday, stocks began to sell off we were already losing steam that's where the impeachment inquiry headlines came out that gave the market a little weakness we did get a little pop here on the ukraine headlines. this is primarily computers doing this this is not you and i, bob and mable at home saying sell stocks this is computers searching for key words frmt again, down under 200 points we aren't off by 1,000 points.

many people i talked to after hours said they thought the market held up reasonably well people get nervous, they sell stocks, they buy bonds bringing the yield down. 1.7 yesterday. down six basis points now, he said if there is a trade war, please do not tell nike look at its stock today. the company's first quarter results beating forecast stock is up 5.4 ahead of the market nike sales jumped 22% in china trade war? that is something highlighted on nike's conference call last night. >> in relation to tariffs, we strongly believe in the pour of

free and fair trade. we have effectively navigated through excessive duties and are confident we'll continue to do so under the current dynamic >> looking at an important stock, welcome jessica ramirez, analysts jane howl and associates what is nike doing so well that they just continue to grow their sales? >> nike is really good with their pricing power. they have innovative products their consumer adapting to and charging for an air max which is $180 to $200 we are looking at them injecting into the midtier price point all of that coming at around $90 where you would normally see

them as $40 to $50 there is a tariff, they are future proving for that. >> amazing pricing power is rare. why does nike have it? what are they doing? is it just the fashion are they that smart? >> the product is resonating it is nationable we are looking at a lot of consumers interested in street wear that is huge looking at china, china is looking into street wear that is part of the lucxury sid of the trend it is an interesting product it is innovative joy ride has made it

comfortable. the kids have made it popular. >> you are not just a wall street analyst you've been on the buyer's side of shoes or fashion, not just on the stock side i've got to imagine, as this continues. it's like an upward cycle. when you get hot, everybody must have you >> what nike did, three years ago, they started working with influencers and really speaking to women outside of athletes what they've done is really try to connect with that female that may could be fashionable and maybe want to work out the u.s. soccer team they've created a lot that works with the women's body

>> the men's team isn't doing so well >> it shows with the jersey. it was cute and it worked with the female body. a lot of the data nike collects on the back end, that helps them create better product. looking at sneakers, the way they fit and breathable technology they are injecting all of that into the product the consumer sees it is cool and worth the money. >> and it has worked out stock up 5.5% here and in china. we appreciate your views a little breaking deal news this morning del frisco's steak house becoming part of the double eagle family

landri la landry's is buying del friscos it was announced back in june landry's will grow including the 6th avenue del frisco's. mortons, strip house fair to say they are now the king of steak. wework announcing that neumann will step down he will remain on the board. we live in the same town in new

jersey, we should do the show from there with t-shirts and nikes on and looking cool >> he's not leaving. he's the chairman of the company. still very important what is the latest on this saga in the last 24 hours >> everything that has happened here needs to be put under the length of preparing this company togo public what has happened in the last 24 hours, there are now two ceos and people that have been there at least a year,

minson and sab asean will be co-ceos. that is a permanent title. >> because co-ceos has always worked out well. >> the idea to get professionals in to clean up the company >> when your valuation has been kneecaped. you don't. softbank turned against adam neumann. masa, big idea guy >> likes to vest >> a kindred spirit and has been a champion of his. i wrote a story a couple of days ago, which was the cofounder of wework saying the one complaint masa had with adam is that he

wasn't crazy enough. now he's saying he's too crazy >> people are always asking, why do you care so much for the wework story it is a private company, a real estate company the reason we care is that wework -- it has its own problems itself but $47 billion valuation, taken the red pen down to maybe 10 does wework tell us there is a bigger problem in the startup market maybe valuations are possibly too high across the board? this is a bigger story than just wework is the point. >> the biggest of the unicorn from slack and uber that have gone public.

this one so big, it couldn't even get out the door. that there is an issue with softbank these companies balloon in investment >> thursday raising the value of its own portfolio. if i sold my house to myself more than i paid for it, the value has gone up but i sold it to me. >> until you sell it to someone else which you have to market. what we have seen here with this process. yes, there is a softbank bubble. it will be interesting >> we've got to do this from our home town. >> don't have to sleep under the desk >> get a pillow. coming up, another state declaring a public health emergency and taking steps to get e-cigs off the shelves

and juul planning a major restructuring. a story parents don't want to miss we are going back to the future 405 days until presidential elections. this morning's random but interesting thing you've got to hear ♪ as a principal i can tell you this. when one student gets left behind, we all get left behind. this is a problem that affects each and every one of us.

together with ibm, we created a whole new kind of school called p-tech. within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. you know what's going up today? my poster. today, there are more than a hundred thousand p-tech students around the world. it's a game changer. man: can i find an investment firm that has a truly long-term view? it begins by being privately owned. with more than 85 years of experience over multiple market cycles. with portfolio managers who are encouraged to do what's right over what's popular. focused on helping me achieve my investors' unique goals. can i find an investment firm that gets long term the way i do? with capital group, i can. talk to your advisor or consultant for investment risks and information. talk to your advisor or consultant great riches will find you when liberty mutual customizes your car insurance,

so you only pay for what you need. wow. thanks, zoltar. how can i ever repay you? maybe you could free zoltar? thanks, lady. taxi! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ welcome back to "worldwide exchange." we have new developments on the e-cigarette and vaping front massachusetts declaring public health safety on vaping and putting a four-month ban juul has released plans to restructure. >> sounding the alarm, the e

cigarette threat >> to our guests, greg and stephanie. greg, you are an investor in this and other companies what is your reaction? are states overreacting? >> first of all, i would like to say i hate smoking i'd love to see cigarettes wiped off the face of the earth. >> vaping is smoking >> come bustable cigarettes, there is a risk knocking us back in making the gains we've made >> vaping is smoking it is a nicotine transfer device >> three issues. definitely youth is an issue

no kids should have access my kids including. we can promulgate toe backa to 21 we can keep these thing as way from children. second, with these illnesses it's important to point out we are not seeing these illnesses in any other countries looking at the uk, you are not seeing illnesses here, they've been tied to elicit black market cannabis pods i think there is a lot of fear mongering going on >> number one, in the uk, the government has said where a lot more people smoke, they've said, hey, use this as a way to quit

smoki smoking cigarettes here, vaping has become an entry level device, how do you believe congress is going to react and adjust itself and outlaw these products >> this has become an emotional debate the idea of kids using these has become alarming and scarey smoking has to do with the come busting, lighting it on fire and inhaling it. the uk has said, when you are not come busting, we have evidence to show the expose your to kars inowe agains is lower. in the u.s., the flavor story.

this epidemic has not been tied to e cigarettes, it is causing panic. they could certainly ban flavors. which is interesting because menthol flavored cigarettes are still on the market. >> is that what you say. we'll do it as hopefully a smoking seccation device >> i think massachusetts and walmart's decision if walmart wanted to do something in the interest of public health, they would ban until they have more understanding. they should have pulled cigarettes if they really wanted to be a good actor, pull cigarettes. >> why do we need it at all?

i went to high school in rural virginia >> half your class smoked cigarettes >> no. we spit but that is nicotine >> that will still cause five types of data. >> with vaping, it is a much better outcome in massachusetts, banning these, you'll push the citizens into the black market >>or not in the market at all. >> if you have a nicotine addition, you need to get it >> okay. are they going to look at

whether it is dip in your lip or an e cigarette, you are still getting people hooked before they are adults. >> nicotine itself is very dangerous in the late '80s there was research that showed exclusive use of dip like you are talking about is not nearly as harmful as duel use, using dip and smoking. the difference between us and the uk, they are trying to educate people here, we are too emotional

>> we can have this debate but i wonder if congress might be busy with something else. remember those candy cigarettes? >> those are fabulous. >> the board walks of delaware are still selling those. >> on deck, the house going after president trump. he's got the senate but is the market underestimating the possilibity of impeachment and possible removal ah, you could say that. so how are things with you guys? great. thank you. thank you, sir. lunch next week? terrific. say hi to the team. will do.

call my office, i will. -sounds good. alrighty. servicenow. works for you. ♪ go where my baby lives b[ growl ]olle♪s good boy. hey. hey. you must be steven's phone. know who's on your network and control who shouldn't be with xfinity xfi. simple. easy. awesome.

take a look at bitcoin down again 1.5%. yesterday, it briefly traded below $18,000. some blaming the reaction to futurers earlier this week or just that more people wanted to sell than buy it president trump will meet with leaders today you may have heard house speaker nancy pelosi has launched an impeachment preceding. eamon joins from new york. >> reporter: both sides framing this investigation into the ukraine matter here is how nancy pelosi put it yesterday. >> not to place ourselves in the

same category as our founders but to place us in the urgency of protecting our constitution >> the president saying this, such an important day at the united nations so much work and success the democrats are to purposely ruin it. >> saying, in a far departure from all the work and results to focus their energy on partisan political attacks. their attacks on the president and his agenda are not only partisan and pathetic, they are in derelliction of their constitutional duties. taking the same path bill clinton did arguing that this is

a political distraction. in reality, there wasn't much legislating left maybe that trade deal with the united states, mexico and canada was one area they could come together we'll see whether this imperils that deal. >> that impeachment inquiry is one on the list of unknowns. you've got china deal, brexit, and aging bank policy, black swan are you surprised the stock market didn't react more >> the market moves on two things, i'm not saying the

politics don't matter. we are in a dead period now. the markets are focused on more. >> from a political perspective, that is one thing. that risk is that it is all over the news the american consumer could react negatively maybe freeze up a little bit maybe we shouldn't buy that house or that car, which then hits the earnings. i'm not saying that is what is going to happen, that is the risk >> looking at any bigger calls >> you standing by that? >> the technicals are strong in the market fundamentals are still solid interest rates are low those are the things driving the markets. >> the pool of available assets

have shrunk. the amount of buyers have gone up it is not a fun story to tell. it is more people going after the same or small. all of these countries are no longer third world there is more money all over the u.s. it used to be about 8,000 stocks, nows it 3that they stil want a piece of the u.s. apple and all these companies they can identify it there is some politics involved. trump is one of the few presidents who does talk about the market and the dow

he'll do what he can in his power to get that round number and keep that pressure low >> we have to go next time. thank you. let's get political in today's random but interesting thing we try to keep politics out of the show as much as we can it can feel like the presidential election should be this year. not until more than a year away. apparently, you are already getting tired of hearing about it according to a recent study, 46% of all of you american adults say you are warn out by the political posts and conversation that is up 10% since the last time they asked back in 2016 keep in mind, that 46% number is

before the house moved on impeachment proceedings yesterday. with all the talk about big tech under fire, maybe the biggest threats to the facebook insta gral gram and others is users getting burn out squau "squawk box" begins right now >> house speaker nancy pelosi announcing inquiry to president trump. does this possess a risk to the market we debate. and wework's ceo steps down. this story just getting started. a big day here, we launch a new podcast?

what does thatdo >> audio >> we'll tell you how to join the party. tell me how i can join the party. september 25, 2019 you are all invited. "squawk box" begins right now. ♪ >> announcer: live from new york where business never sleeps, this is "squawk box. >> good morning, everybody welcome to "squawk box" here on cnbc we are live at the marketsite in times square you've seen now that the nasdaq and s&p have been down the last three days dow has been three of the last four days. this morning, things are lower but not by much. dow is down by