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 the heels of the Napolitano press conference, in which the Homeland Secretary said the Deepwater Horizon spill in the Gulf of Mexico was of "national significance," energy stocks have come off their highs, and several are in negative territory.

  • Europe is up, as are U.S. stocks, on hope that the EU will complete talks with Greece on a financial aid package that could be announced this weekend.

  • Dividend increases keep coming. ExxonMobil the latest, this time increasing their annual dividend to $1.76 from $1.68. According to Standard & Poor's, 98 companies in the S&P 500 (20 percent!) have increased, with 2 decreasing.

  • No surprises from the Fed — that's putting it mildly. Worries about Greece, and maybe the economy, seems to have neutered the Fed completely. Yes, no change in the "exceptionally low levels of the federal funds rate for an extended period" phrase, but we knew that. Nothing on selling their stash of mortgage-backed securities (MBS) or agency debt, nothing on increasing the rate they pay on reserves. But the biggest disappointment..?

  • S&P cuts debt of Spain. And traders are already speculating that, since rating agencies tend to move in bunches, Ireland could be next for a downgrade. Here's what an Irish paper, the Independent, had to say about the state of finances in Ireland a few days ago.

  • The 2-year Greek bond passed a 23 percent yield, which must surely be some kind of selling climax. National Bank of Greece (NBG) is up 10 percent. Meantime, the Greeks are boldly going to the heart of the problem: they have banned short selling of stocks for the next two months.

  • For the second day in a row, we end at the lows for the day. Volume heavy, 6.5 billion shares on the NYSE consolidated tape, but again watch Citigroup  — at 1.3 billion shares, it is 20 percent of total volume! Then there's Goldman...

  • The S&P 500 has stabilized after Europe closed at 11:30am ET. Two important points about today's trading: First, The CBOE Volatility Index (VIX) was up as much as 20 percent today, its biggest one-day jump in several weeks, to the highest levels since February. And second..?

  • U.S. stocks weakened today as European indices headed south. Those European indices, which were weak all morning, weakened further about 11am ET, upon hearing that Portugal's long term sovereign credit ratings were lowered by S&P to A- from A+.

  • International stocks are weaker this morning. Greece stocks are infecting Portugal and Spain (both down more than 2 percent). China's Shanghai Composite Index is down another 2 percent, to the lowest levels since October last year, as they have been tightening rules on property borrowing recently...

  • 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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