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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  • European debt issues haven't gone away, but they can be ignored — for a day or two. Here's something odd: S&P Industrials up almost 2 percent, and S&P Materials up 1.6 percent, but S&P Energy up less than 0.5 percent.

  • Even professional stock pickers are miserable. At an informal gathering of about a dozen hedge fund traders and analysts last night, trader after trader expressed frustration with the fact that the correlation between stocks has been near all-time highs—for months. This means that stock picking has been useless.

  • Cynics would note that even if it is true, it's not clear how much it will matter in the long run.

  • Many bank executives have been quiet for the past several months. But the quarter is ending in two weeks, so we are just before the quiet period. If bank execs are going to comment on business, or guide lower, this is the forum to do it.

  • The euro rallies: Is the Greek drama coming to a head a positive for the euro? A stronger, core Europe would certainly be good news, but most traders still believe in the "contagion" theory over the "ringfence" theory, which means Portugal and Ireland may be next. Unfortunately, the euro rally is likely less complicated.

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    The resignation of Juergen Stark, a member of the Executive Board of the ECB, reportedly for personal reasons, serves to highlights the North-South split that is now emerging in the ECB and in Europe as a whole.

  • The main story Friday morning is in Europe, not in the U.S. or with President Obama's speech. The European Central Bank is again buying Italian and spanish bonds, though the purchases appear to be modest.

  • Stocks are fractionally lower following Ben Bernanke's speech because Mr. Bernanke declined to elaborate on any further stimulus the Federal Reserve might provide, or under what conditions it would do so.

  • Bears are eyeing this tape nervously...why? In theory, bears should be delighted: the language from the ECB was somewhat dovish, with growth targets lowered — and everyone knows September is the worst month for the stock market, right?

  • S&P 500 futures dropped five points, and European equities dipped, as the European Central Bank announced it was leaving interest rates unchanged at 1.5 percent. The Bank of England left it at 0.5 percent, but left open that it may restart its own quantitative easing program. Some disappointment there was no rate cut.

  • 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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