A CNBC reporter since 1990, Bob Pisani has reported on Wall Street and the stock market from the floor of the New York Stock Exchange for more than a decade. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before moving to the New York Stock Exchange in 1997.
He was nominated twice for a "CableACE Award"—in 1993 and 1995.
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, Bob 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.
Dividends: the tide has turned; more increases are coming. February is traditionally the month with the largest number of dividend increases, and it did not disappoint. Forty-seven companies increased their dividend last month (nearly 10 percent of the S&P 500). That is the best in two years and about twice the average of the last seven years...
Seems slow, but there is underlying strength here. New highs in the Nasdaq, mid-cap, and small-cap indices. More optimism on Europe. More optimism on Europe. As we move into the anniversary of the March 2009 low, Lowry — the oldest technical analysis service — reminds us that, despite the better than 60 percent advance in the S&P 500 from the lows, there is "none of the signs usually associated with a maturing or aging advance."
Stocks are up modestly in the U.S. and Europe on word that EU members were crafting a support program for Greece (Greece has rallied some 13 percent since bottoming on February 25), and that Dubai World is (finally) in discussions on restructuring $22 billion of debt. They could put the restructuring plan to creditors this week. They've been waiting...since November.
S&P futures popped about 5 points as nonfarm payrolls came in slightly better than expected (loss of 36,000 jobs vs. loss of 68,000 expected). Greece is up for the fifth out of the last six days, despite protests in the streets. Premier Wen Jiabao of China pledged to crack down on property speculation. (Good luck on that.)
Greece will sell about 5 billion euros of 10 year bonds (at about a 6.3 percent yield) — it is well oversubscribed. They need to refinance up to 23 billion euros of maturing debt coming in the Apr/May time frame. 2. Retail sales for February have topped expectations. 3. Wal-Mart increased its dividend to $1.21 from $1.09 per year. Over 60 companies in the S&P 500 have increased their dividend since the start of the year. 4. A bankruptcy judge gave the management of General Growth Properties won a four month extension to keep control of the bankruptcy restructuring.
Expectations very low for February, given the huge snowstorms in the Northeast. But analysts who actually bother to call around to the stores (there's still a few who do real research) are generally reporting that sales are a bit better than exepected.
U.S. corporations continue to buy back stock at a near-record pace. Purchases could ramp up after earnings season blackout periods end.
Here's how the old adage "Sell in May and go away" stacks up over the last 20 May-to-October periods
Crowded "long" trades unwinding
Very low jobless claims may be a sign that March's low employment report will be revised upward.
The U.S. top court ruled against a man, saying he couldn't appeal a court rejection of his bankruptcy plan.
A glum Bill Gross sees both himself and the bull market facing the same long road to oblivion.