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.
First quarter 2010: this time, a look at the losers. I noted earlier that although the S&P is up 5 percent this quarter (4th consecutive quarter of growth), there have been very wide discrepancies between the winners and losers this quarter. ere's some of the more notable laggards, and why. (Updated)
Futures dropped about 4 points as the ADP Employment report showed a decline of 23,000 jobs, well below expectations of a gain of 40,000 jobs. Treasury yields declined, and the dollar weakened. Bulls are already noting that the ADP report "does not incorporate a weather related rebound that could be present in this month's BLS data," so there is no reason to abandon the projections for healthy gains when the March jobs report comes out Friday.
Another slow melt-up. Every day, the Dow goes up...20 points. The Dow is up 17 trading days in March, and down only four. It hasn't put together two down days since the last week of February. That's impressive. What is not impressive: volume, and the advance/decline line is definitely showing signs of slowing down. Not a good sign.
We started the day with the Dow Industrials within 60 points of 11,000...but faded as Europe closed on the lows of the day at the same time as the euro hit its lows. Greece, which priced a 5 billion euro 7-year bond offering on Monday, attempted a follow-up 1 billion euro sale this morning, but the market didn't seem to be interested.
The Greek stock market down 1.8 percent as the sale of the 7 year bond did not go as well as initially thought. Yields are higher, to 6.24 percent. And: We are waiting to see if the spate of strong IPOs will continue. Expecting Primerica to price 18 million shares between $12-$14, likely tonight, possibly tomorrow. This is the largest financial services marketing organization in North America.
The US' Citigroup common share sale news is no surprise, but hopefully it will sun a light on the potential windfall for taxpayers. The government owns 7.7 billion shares at $3.25. Right now, at roughly $4.25, it is sitting on a $7.7 billion profit. Whether they can get that price over the next several months depends on a number of factors. Let’s look at two broad issues.
International markets are to the upside, for the most part. The Shanghai Composite closed up 2.1 percent and is now at a 9 week high. Greece announced plans for a new 5 billion euro seven-year bond that will yield about 6 percent. The dollar is falling for the second straight day as waning sovereign debt concerns in Europe. That is giving strength to commodities in early trade.
AT&T joins Deere and Caterpillar in taking a charge (in this case, $1 billion) due to the health care reform bill. You will be hearing this from many companies. In this case, there is a charge to earnings this quarter for companies that get a 28 percent subsidy from the feds for prescription drug coverage for their Medicare retirees. That subsidy is being reduced.
Forget Greece or Treasury rates — the biggest frustration for traders remains the lack of volatility, which has led to woefully low volumes for the past month. Don’t let yesterday’s little blip up fool you, the action has been lousy recently. Why does this matter?
JPMorgan Chase will cut about 5,000 jobs over the next year, as the bank closes branches and slims down operations, The Wall Street Journal reported.
Banks have been outperforming the market, and in the long term, technician Rich Ross sees a "beautiful breakout."
After Dick Fuld's first public speech since the crisis, this PR guy had one thing to say: Don't call it a comeback.