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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  • S&P futures moved to the highs of the morning after weekly initial jobless claims came in lighter than expected: 368,000 vs. 395,000 expected. However, the big story of the morning is the rally in the euro, and corresponding decline in the dollar.

  • Today's action suggests stocks may still be able to advance with oil at $100, but it's dicey above that. Mid-morning stocks weakened as oil moved to $102, but stocks gradually recovered even as oil has held in near $102. At 2pm ET major indices were flat, more up stocks than down stocks.

  • How much stock damage from $100 oil? Pretty modest, so far. Very encouraging action this morning as $100 oil is not preventing a modest move up in stocks; all the major indices are up, advancing stocks outnumber declining stocks by better than two to one.

  • ADP report stronger than expected. There is some debate this morning about the implications of the February ADP Employment Change, which came in at 217,000 jobs created, far higher than the 165,000 gains expected. This is a positive implication for Fridays nonfarm payroll jobs report.

  • Is Saudi Arabia in play or not? That's the main issue on the minds of two hedge fund traders I met with last night. They were referring to the political system. The Saudi stock market was down another 3.9 percent overninght and has dropped more than 15 percent in the past five or six trading sessions.

  • What happened? Fundamentals happened. $100 oil has become a serious psychological barrier for stocks. Oil closed just shy of $100 today, the highest close since September 2008.

  • Mr. Bernanke said nothing controversial, but his claims that the impact from higher oil prices is minor is certainly not striking a chord with viewers.

  • SEC charges again revives interest in what exactly constitutes insider trading, and why the key phrase is "material" and "nonpublic." The SEC is alleging that a former board member of Goldman Sachs and a current member of the board of Procter & Gamble, Rajat K. Gupta, has provided information to Raj Rajaratnam of Galleon that amounts to insider trading.

  • Stocks have drifted lower, then come off their lows, since Mr. Bernanke's Senate Banking Committee testimony came out at 10 AM ET, but it's unlikely due to anything he said.

  • The Egyptian stock market opening was delayed (again) today, this time to March 6th. It has not been open since the end of January. This is the second delay: it had been set to reopen February 13. Spider-Man is scheduled to open March 15. Don't bet on that one, either. The Saudi stock market officially closed down 6.8% and is now down 11.6% over the past 3 trading days (they are open on Sunday).

  • 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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