It's Jim Kramer here. You're listening to the opening bell of CNBC Squawk on the Street.

Don't miss a minute of the action.

Good Wednesday morning. Welcome to Squawk on the Street. I'm Carl Kintania with Jim Kramer,

David Faber at the New York Stock Exchange. Future's largely unfazed by this House impeachment inquiry

and instead focused on trade as the president meets

with Shenzhou Abe of Japan today. We'll watch Nike, We Work, Ultria, Best Buy and More.

Europe's catching up to our losses from yesterday. Oil's down nearly a buck. Our roadmap begins

with the E-Sig crackdown, hearings, investigations, and sales limitations. Now the CEO of Jewell is out, and

Tobacco Giants Philip Morris and Altria call off their merger talks. Plus the political

risk for stocks, futures are pointing as you saw to a muted open as House Democrats move on

impeachment and what the turmoil is going to mean for ongoing U.S. China trade times.

And Nike shares rallying ahead of the opening bell after hitting an all-time high, new products, driving sales and double-digit growth in China.

Big news regarding Philip Morris International and Altria, though.

The two companies deciding to end their merger talks.

Meantime, Jewell is announcing that Kevin Burns is stepping down as CEO.

The e-cigarette maker says it will suspend all broadcast, print, and digital advertising in the United States,

as regulators have launched this crackdown on vaping products.

Meantime, Altria tightens their guidance, Jim, for the year, reaffirms domestic cigarette volume down five to six.

But it does seem like Jules entering a new chapter here as they try to get FDA approval.

Well, look, FDA approval, I think, if the FDA cares about, where was Gottlieb on this?

CNBC contributor?

Why do you shut this thing down? We can't even get cannabis blasts in this country. But we let Jewel go through? This is a very reckoning moment for Altria. The numbers were horrendous. It was a completely wasting asset. It was going the way of coal. Jewel was the way out, and it's going to fail.

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