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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  • A rally, but not an enthusiastic one. The Dow saw its gains cut in half in less than an hour, but then recovered. Financials holding, as are consumer and utilities.

  • Stocks pointed higher as initial jobless claims came in well below expectations at 391,000, the lowest since April 1. A strange comment from the Labor Department: the drop was due to "technical issues and seasonal adjustment volatility, rather than economic factors."

  • While you were waiting for the German vote on the EFSF tomorrow...copper and China dominate the conversation today. Both are proxies for global growth, both are sitting at new lows.

  • The dog ate my rally. Well what did you expect? A four-day rally? How often have we had that in the last two months? Twice.

  • We get it, we get it! The euro is again higher this morning as more officials indicate they will speed up efforts to resolve the debt crisis. This time European Commission President Jose Manuel Borroso implied euro bonds were coming—but down the road.

  • Another potential factor in today's late market drop: word that the European Commission will unveil a financial transaction tax on bond and stock trading, a report says.

  • Stocks have held up all day, but came off their highs going into the final hour. Some note an FT article that there is a debate among Euro zone members that private creditors should take a bigger haircut than the 21 percent cut that is currently being offered.

  • The changes reduce the percentage declines needed to halt trading and simplifies the structure of the circuit breakers. It also changes the reference index from the Dow Industrials to the S&P 500.

  • End of quarter rally? The talk on trading desks this morning is hopes for a rally based on simple math: Stocks have dramatically underperformed bonds this month—and this quarter. Simply put, pension funds should buy stocks and sell bonds going into the end of the quarter.

  • Bob Pisani is in California on vacation and will return Tuesday, September 26.

  • 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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