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.
UniCredit and the European capital problem. Italian bank UniCredit attempted to raise 7.5 billion euros in a rights offering. They did it, but at a huge cost: they sold at 1.943 euros per share, a 70 percent discount to the closing price of 6.3 euros yesterday.
You would think this would be big news: after all, isn't there an army of people who make a living trying to figure out where the Fed interest rate policy will be out into the next quarter, the next year?
US stocks are off the highs Tuesday afternoon, but still strong gains in financials, materials, industrials, energy stocks all up 3 percent. Volume lighter since the European close at 11:30am ET — looks like our European friends were putting some money to work here.
Stocks are starting off 2012 strong...the euro has been rallying this morning, most European bourses are trading up (except France and Spain), led by commodity stocks like Mittal, Rio Tinto, and Aluminum Corp. of China. Chinese and Japanese markets are closed again today.
The issue is how much demand there is for longer-term paper, which will be auctioned tomorrow, including 3-year and 10-year paper. Italian 10-year yields are down to 6.85 percent about 15 basis points below yesterday (Tuesday).
The speculation comes amid a fresh round of criticism the outspoken New York businessman has lobbed at the Fed.
The commodity's prices could quickly dive to $40 or lower if OPEC members leave Algeria on Wednesday without any promise of a deal.
Many on Wall Street agree with Donald Trump's criticism that the Fed waited too long to raise rates.