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.
BP drops midday to a nearly 14-year low. BP shares went from $34 to $31.50 in about an hour midday. What happened? You have senators walking around talking about suing BP for everything, including lost jobs; you have worries that the dividend will be wiped out; and you have whispers on trading desks that it is increasingly likely that BP, or its U.S. subsidiary...may file for bankruptcy.
Standard and Poor's is rebalancing Citigroup at the close today to account for additional shares the government sold to the public.
Global markets are up on: 1) a leaked report that Chinese exports grew 50 percent in May from a year earlier, vs. the 32 percent gain expected; and 2) a successful 3 and 10 year bond auction in Portugal. In China, the Shanghai Index was up 2.8 percent on the strong export numbers. Also: the "Pain Trade."
At an informal gathering of hedge fund traders last night, the mood was decidedly gloomy. I noted yesterday that many hedge funds had a horrific May: 1) most were net long going into May, and 2) many had been short volatility. Volatility, as we know, exploded in May, forcing many firms to cover their short positions. Not only that, traders seemed to have been unprepared for the dollar's rebound...
Stocks posted modest declines today, but it was enough for the Dow Jones Industrial Average to close at its lows for the year. It was a frustrating session, because stocks seem oversold, especially after Friday's 322 point drop in the Dow. But volume was light until the last half hour, as there seemed to be little interest in picking up stocks at a discount. What's the problem?
I've just returned from a week in Charleston, South Carolina, where the shrimp fisherman are starting to see higher prices for their shrimp due to limitations on fishing in the Gulf. Also: Hedge funds are in trouble. And the first evidence of earnings impact from the 6-month oil drilling moratorium is being seen today.
Today is an excellent example of the headline risk that bedevils the stock market, and will likely continue to do so. First, vaguely bellicose comments from North Korea earlier in the morning took the Dow down modestly (less than one percent). Then, when Fitch downgraded Spain's debt rating, the Dow lost about 100 points; it has since come off its lows. What else..?
Considerable confusion surrounding the president's new order on Gulf of Mexico drilling, most of it not good for the deepwater drillers: 1) a 6-month moratorium on permitting for new offshore oil and gas wells 2) the halting of all deepwater wells. The second part was a surprise to everyone. The issue: how does this affect earnings of deepwater drillers?
Italy successfully auctioned 3, 7, & 10 year notes Friday, which should further calm markets. Bottom line: for the moment, it appears that European countries can access capital markets, with the possible exception of Greece. Now they just have to sell the austerity programs. Also: Sell in May and go to..?
Four Chinese regulatory agencies have issued a joint statement "encouraging" listed companies to take action to shore up their shares.
There are still plenty of bears betting that that rally will have trouble sustaining itself in early September.
The Dow went up 2 percent in the last 45 minutes Thursday. THAT is ridiculous.
Market on close orders:a primer.
Two public pension funds oppose an amendment of bylaws at Bank of America that would allow Brian Moynihan to continue as both CEO and chairman.
A new report suggests Best Buy could soon win the pricing wars with Amazon.
Day traders took a decidedly bullish stance through leveraged ETFs last week, and that could point to more volatility.