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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  • Is it any wonder why traders are miserable with such whippy action?

  • Most important are that the factors that loomed large in the soft patch may indeed be mitigating. Which factors, exactly?

  • Bulls have been arguing all week that the primary factors that caused the "soft patch" (higher commodity costs, Japan quake) will mitigate over time and particularly into the third quarter.

  • earnings_central_badge.jpg

    It's the first big read on June, and a reading under 50 (which would indicate contraction) would likely cause a negative reaction in the markets. ISM hasn't been below 50 since July 2009.

  • A minority of traders are arguing that it will be. The S&P 500 is still down fractionally for the quarter, and bonds have dramatically outperformed stocks again. It wasn't supposed to happen this way: Greece and the "soft patch" hijacked the rally.

  • Stocks rallied at 9:45am ET as the June Chicago Purchasing Managers Index (PMI) came in a 61.1, well above expectations of 54; new orders 61.2 also above expectations. Why do we care?

  • Some time this morning, the New York Federal Reserve will buy $4 billion to $5 billion in Treasuries, completing its $600 billion purchase program.

  • A stronger euro, weaker dollar has helped equities all day as the markets believe a Greek deal is imminent. At 2 PM ET the Greek Prime Minister spoke, appealing for passage of the unpopular austerity act, and markets rose to the high of the day.

  • Most important stock today is Nike, which reports Q4 earnings after the bell.

  • Stocks are stronger today as the euro has strengthened, dollar has weakened on an increasing belief that a deal in Greece is possible...word that French banks might be willing to roll over 70 percent of their Greek debt as it matures (taking the remaining 30 percent in cash, presumably) is being greeted positively.

  • 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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