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.
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.
The euro is down a full percent today against the dollar, has now given up almost all that it gained yesterday; the dollar has done just the opposite. This volatility, of course, affects stocks and commodities and makes traders crazy. What's up today? Recall that there is all this talk about currency swaps that Goldman may or may not have done for Greece.
January housing starts, at 591,000, was above expectations of 580,000, and the highest since July 2009. The prior month was revised upward as well. Bullish on housing: BofA/Merrill Lynch initiating seven home builders with a "Buy" rating. Analyst Jonathan Ellis says, "we think a sustained recovery is now within a reasonable discounting period for the stocks." What about a bottom in home prices? And what happened to the correction?
Simon Property Group bid for General Growth: a BIG DEAL. How big? Too big to pass up. A once in a lifetime opportunity to buy high-quality assets.
The CBOE Volatility Index fell below 12 as Federal Reserve Chair Janet Yellen began speaking.
Fed Chair Janet Yellen stuck to her script Friday, even though traders had hoped CPI data would force her to give a nod to improved data.
Janet Yellen just added fuel to the fire that HFT is to blame for all the ill in the market. Trader Jack Boroudjian says that's just wrong.