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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  • On whether there would be further asset purchases (QE3): Bernanke drew a distinction between the situation now and when he began the asset purchase program in August.

  • As expected, the Fed has made a nod to the economic "soft patch" but has given no indication of further stimulus.

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    The current thinking is that in the next few weeks, corporate America will be resetting expectations for Q2 earnings and even 2H earnings lower, due to the clear "soft patch" we appear to have hit.

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    FedEx reported Q4 earnings and revenues ahead of expectations, but much more important is the tone of CEO Fred Smith's commentary. Smith took note of an "improved economy" and "strong customer demand."

  • On the floor of the NYSE, traders are already changing the topic: how likely is it that the Fed will downgrade its outlook on the economy?

  • Stocks are up today, partly because the market is oversold, but also because the euro has stabilized, and the dollar has resumed its weakness. This is largely because the trading community is expecting the Greek government to survive the no-confidence vote tonight and to approve the new austerity bill on June 28.

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    Traders are betting that the Greek government will survive, will approve the austerity measures, and will get the next tranche of its bailout funds. Good luck: the austerity plan reportedly includes a "crisis levy" on taxpayers for the next three to four years.

  • We did it, breaking a 6-week losing streak on both the Dow and the S&P 500. That's the good news, but there is not a trader I spoke with who was impressed with this close.

  • At a charity event last night aboard the Intrepid on the Hudson River, several hundred hedge fund traders sipped white wine while waiting for the Roots to play. The weather was magnificent, but get past the pleasantries and none of them were in a particularly good mood.

  • France's Sarkozy and Germany's Merkel had a problem: Germany wanted a haircut for bondholders, France did not. Now there is some kind of compromise, as Merkel said she would back "voluntary" debt rollover.

  • 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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