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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  • Scott Cutler, head of U.S. listings for the NYSE, told me on our air this morning that 498 IPOs were in the pipeline at the NYSE and Nasdaq, the biggest backlog in 10 years.

  • The meeting between French President Nicolas Sarkozy and German Chancellor Angela Merkel over the weekend produced a vague consensus: Sarkozy has agreed that the old July 21 agreement is no longer workable and that Greek debtholders will have to take a larger haircut than the 21 percent reduction that was originally proposed. Merkel seems to be bending on using the EFSF to at least partially recapitalize banks.

  • Merkel and Sarkozy, with their respective finance ministers, will meet over the weekend to hammer out some kind of common front ahead of the EU Summit Meeting October 13-14. Both now favor recapitalization of the banking system.

  • Better economic numbers reduce recession fears, and that helps EPS. This week we saw better than expected ISM, ISM Services, September same store sales, and nonfarm payrolls, all of which have reduced the likelihood of a recession.

  • After a brief period in positive territory, stocks moved down mid-morning, then took another leg down as Fitch downgraded Italy and Spain.

  • How to recapitalize banks? France worries about its sovereign credit rating. It was bound to happen: Now that Europe is getting on the same page about the need to recapitalize banks, the debate has focused on the mechanism for recapitalization.

  • It's a problem: since dropping in the beginning of August, the market has a hard time putting together consecutive strings of up or down days.

  • Thank you, Steve Jobs! You changed my life and millions of others.

  • I've been asked repeatedly why Real Estate Investment Trusts (REITs), which are stock companies that own and manage real estate for investors, have been so weak today. A couple of observations...

  • The signals being sent: there will be major haircuts on European debt, there will be recapitalizations, there will be changes to the EU treaty mechanism (this is where eurobonds come in).

  • 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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