A CNBC reporter since 1990, Bob Pisani has reported on Wall Street and the stock market from the floor of the New York Stock Exchange for more than a decade. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before moving to the New York Stock Exchange in 1997.
He was nominated twice for a "CableACE Award"—in 1993 and 1995.
In 2013, he won Third Place in the National Headliner Awards in the Business and Consumer Reporting category for his documentary on the diamond business, "The Diamond Rush."
In 2014, Bob was honored with a Recognition Award from the Market Technicians Association for "steadfast efforts to integrate technical analysis into financial decision making, journalism and reporting."
Prior to joining CNBC, Pisani co-authored "Investing in Land: How to Be a Successful Developer." He and his father taught a course in real estate development at the Wharton School of Business at the University of Pennsylvania from 1987-1992. Pisani learned the real estate business from his father, Ralph Pisani, a retired real estate developer.
Follow Bob Pisani on Twitter @BobPisani.
June nonfarm payrolls posted a decline of 125,000 jobs, slightly higher than expected, with an unemployment rate of 9.5 percent. Private sector job growth up 83,000 was a bit below expectations. The stock market anticipated weaker numbers and trading all week reflected that sentiment. The market is trading at notably lower levels than two weeks ago.
Futures dropped, then recovered a bit, as initial and continuing claims were higher than expected. Start of a new quarter, and first trading day of the month. It is one of the oddities of trading that the Dow Industrials have their biggest point gains on the first day of the month, on average (Trader's Almanac). It's really quite significant...
Stock futures dropped on ADP bummer report. Futures were up all morning on good news from Europe, but S&P futures dropped 6 points in seconds when the ADP said only 13,000 private sector jobs were created in June, well below expectations of about 60,000 jobs. We are expecting significantly more private sector gains from the nonfarm payroll report on Friday to offset the public sector census workers that are being laid off.
How schizophrenic is the market on China? A few months ago there was great worry about an OVERHEATING China, particularly in the property sector. The Chinese central bank raised interest rates, there was concern GDP might exceed growth of 10 percent. NOW, there is concern about a slowing China.
Depending on your point of view, it was either a great G20 summit or another sign of hopeless gridlock. It was a great summit if you are laissez-faire (they put off agreement on a global bank tax and did little else and dropped a 2012 deadline for stricter capital provisions); but it was also obvious how hopelessly split the leaders were, between those who wanted more spending and those who wanted less.
As expected, evidence of a softer sales picture in May and June (particularly for housing) is causing analysts to begin to take down earnings numbers. According to Bespoke Investment, over the last four weeks, analysts have raised estimates for 373 companies in the S&P 1500 and lowered estimates for 545.
The Dodd-Frank bill (that's what it's being called, folks): bad, but it could have been worse. That's what most Wall Street traders and analysts I have spoken with this morning say about the financial regulatory reform bill passed in the wee hours of the morning.
"Money for nothing" interest rate policies have failed, the bond guru said in a broadside against global central banks.
Bank of Ireland, which was bailed out during the country's debt crisis, reported soaring profits for the first half of 2015 as bad debts were reduced.
Lloyds Banking Group reported a 15 percent jump in pre-tax profit for the first half of 2015 to £4.4 billion ($6.9 billion) on Friday.