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.
I bet Ian Ashby, the president of BHP's iron ore division, is scratching his head over the reaction to his comments that iron ore growth from China would be slowing down to single digits. Global stocks were down on this comment, with key material and industrial stocks down two to three percent.
The Street is enamored with the old "sell in May and go away" philosophy; everyone seems poised for a sell-off, or at least a consolidation. Never mind that many of those spouting these clichés have lost a ton keeping their short positions on for the last couple months: The economy is just not improving the way everyone keeps saying, they insist, and dammit I am going to be right — at some point.
Tamer inflation (somewhat): The dollar dropped, stocks futures rose a point or so, as February Consumer Price Index came in at 0.4 percent, in line with expectations, with core at 0.1 percent, slightly below expectations. Yields on the 10-year Treasury moved up to 2.33 percent. This has been a big week for bonds: The 10-year closed last Friday at 2.029 percent, it's up 15 percent in five days.
Treasurys remain the big story: The yield on the U.S. 10-year note hit 2.3479 percent, the highest level since Oct. 28. The U.S. 30-year bond yield hit 3.4902 percent, the highest level since Sept. 2. The dollar finally appears to be taking a break; gold down fractionally and European stocks are trading mostly higher.
In 1997, when I first came to the NYSE, there were 5,000 people on the floor of the New York Stock Exchange.
The markets tend to follow a certain pattern before and after Tax Day.
The Trump agenda may be a bit more iffy, but it is certainly not dead, and the trading community still believes that some kind of tax cut is coming.
First quarter earnings are now expected to rise 10.4 percent from last year.
The energy giant announced a $13.3 billion deal to sell its oil sands and natural gas holdings in Canada to Cenovus.
Due largely to increases in Medicare and Social Security, federal debt is projected to reach 150 percent of GDP in 2047.
Stocks could soon switch focus to what could be the best corporate earnings and revenue growth in five-and-a-half years.