Trader Talk with Bob Pisani

Bob Pisani

Bob Pisani
CNBC "On-Air Stocks" Editor

A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.

In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.

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, Pisani 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.

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  • The bulls are in a technical heaven right now: S&P 500 up 7 of last 8 days...only 1 percent from a multi-year high...market leader Apple less than 2 percent from an historic high...historic highs in the Dow Transports...if nonfarm payrolls are a significant upside surprise (as the ADP implied) the market will rally again.

  • One important point: a lot of retailers no longer report monthly numbers, so this is not a complete picture.

  • On Thursday, some 65.6 percent of NYSE Euronext shareholders backed the $9.4 billion takeover of the company that owns the NYSE by Deutsche Boerse, based on preliminary vote results from the NYSE. The final vote results are expected on Friday. Here's a brief fact sheet...

  • NYSE Euronext shareholders will vote on their merger with the Deutsche Boerse tomorrow (Thursday) morning at 8am ET. Fifty percent of the shareholders must approve the merger. The Deutsche Boerse shareholders can tender their shares up until July 13th; they need 75 percent shareholder approval. Here's a brief fact sheet...

  • Stocks have rallied since Europe has closed...markets in the U.S. clearly want to go higher: it feels like we are in the midst of a short squeeze because there has been no pullback in the last seven sessions.

  • The spreads on debt in peripheral countries like Portugal, Greece, Italy and Spain has widened compared to German debt...the stock markets in those countries closed near their lows for the day, all down 2 to 3 percent.

  • Also: Portugal raised $1.2 billion in a 3-month debt auction, a day after having their debt cut by 4 notches to debt by Moody's. The bad news is they paid a steep price: 4.96 percent. The Portugese stock market is down 2.6 percent this morning.

  • The NYSE votes on its historic merger with the Deutsche Boerse in New York this Thursday (I'll be there!)...so why doesn't it feel historic?

  • Midday, Moody's does a 4-notch downgrade of Portugal debt, and the S&P 500 moves a measly 3 or 4 points? Well, Portugese debt was already trading near junk...but hold on.

  • Modest profit taking in key financials and transports, but overall markets holding up well.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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