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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  • For the cynics who say existing home sales only measures closings and is not a good forward indicator, can I point out that pending home sales (which measures contracts signed) are also up 14 percent in the last two months.

  • Department store shares up big on a down day. Dillards has said they are forming a REIT subsidiary. Why do this? Because for some retailers, the value is not in the brand or the merchandise, or the CEO vision — it's in the real estate.

  • Stocks off their highs as the January Philly Fed survey came in below expectations; more importantly, the prices paid component (an indicator of inflation) rose from 47.9 to 54.3. Above 50 indicates expansion.

  • Initial and continuing jobless claims both came in a bit lighter than expected. China's hot economic growth — Q4 GDP grew 9.8 percent, higher than expected — has put pressure on global markets, already concerned about inflation and higher rates.

  • Modest across-the-board weakness today. Predictably, the groups with some of the healthiest gains recently — autos, casinos, coal — had the biggest declines.

  • No surprise that the small-cap Russell 2000, down 2.5 percent, is the downside leader of the major indices; since the current leg of the market rally began on September 1, the Russell has far outperformed, up 31 percent vs. the up 22 percent of the S&P 500.

  • Citi, a day after its earnings, again trading 300 million shares after the first hour-and-a-half of trading.

  • The euro has been rising against the dollar all Wednesday morning and is now at a 2-month high. December housing starts a bit weaker than expected at 529,000 (550,000 expected), but permits stronger.

  • Grains continue to explode: corn up another 1.6 percent today. Cotton, wheat, sugar, hogs, rice all higher — and things like rice actually outperforming stock markets (up 3.5 percent year to date). There's the weak dollar trade and Australian damage to wheat.

  • Apple now down only 2.8 percent for the day on word Steve Jobs is taking another medical leave. Two points on this...

  • 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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