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.
I have been asked if the single-stock circuit breaker rules that were recently proposed by the SEC are in effect. The answer is no. The SEC stated that there would be a 10-day public commentary period on the new rules once they are published. ... The rules have not yet been published in the Federal Register, so the 10-day comment period has not even started.
Would it be better if Greece got out of the EU? The euro rallied today, and while there were rumors of intervention by the ECB that certainly helped, a number of traders noted that rumors that Greece might leave the ECB (later categorically denied by a government spokesperson) was viewed as a potential positive for the EU...and the euro.
Many traders a bit baffled as to why the SEC excluded exchange-traded funds from the new circuit breaker rules. Especially hard to understand, since two-thirds of the securities that had busted trades were ETFs. Regardless, this may create some real volatility in ETFs.
Trader commentary is a bit incredulous this morning over what is going on in Germany. For example, the restrictions on naked short selling of CDS has no teeth because most CDS is traded out of London, and Germany has no jurisdiction there. Even the French aren't going along with this.
The SEC has released its Preliminary Report on the Market Events of May 6th. (151 pages. Thank you.) The report does not cite any single cause for the nearly 1,000 point drop in the Dow. Importantly, the SEC "found no evidence that these events were triggered by 'fat finger' errors, computer hacking, or terrorist activity, although we cannot completely rule out these possibilities." So what did cause the drop?
The SEC has released details of new rules on single stock circuit breakers. As expected, "trading in a stock would pause across U.S. equity markets for a five-minute period in the event that the stock experiences a 10 percent change in price over the preceding five minutes." The important phrase here..?
Lots of cross-winds today, with much of the focus on Europe and the euro. While late-day news of a naked short selling ban on some German stocks, CDS and Euro-government bonds is getting a lot of attention, the main focus is the euro, which is again weak against the dollar and the yen, and has been all day.
The SEC is expected to release its preliminary report on the causes of the May 6th drop in stocks this morning. They will also likely promulgate rules on single stock circuit breakers, as well as new rules on a macro circuit breaker and specific rules on breaking trades.
I am expecting the SEC to issue a preliminary report on the causes of the May 6 drop today or tomorrow. Along with the preliminary report, they will separately be issuing details on individual stock circuit breakers. Sources tell me that the single stock breaker will kick in when an individual stock drops 10 percent in a 5-minute period; this will halt trading in that stock for 5 minutes across all trading platforms.
We have what traders call "degrossing," where participants are simply taking down overall exposure a bit.
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.
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.