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.
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Though it was another disappointing day, note that the Dow was down 690 points at 3:40 PM ET and then rallied 170 points into the close. The S&P 500 and the NASDAQ closed at new lows. Despite all the worries about redemptions and forced selling, volume was notably light until the last 45 minutes. It really was more of a buyers' strike as bids simply got cancelled.
The good news is that Libor rates are again dropping. The dollar is rallying big again, this is continuing to put pressure on commodities, but the stress is also showing up in corporate profits. Kimberly Clark, for example, said that because of the dollar rally, currency will be a drag on fourth quarter sales comparison instead of a benefit.
Futures are down in reaction to the poor earnings guidance we have seen from Dupont, Texas Instruments, Sandisk and Sun Micro, among others, but the swing in the futures pre-open has been only 18 points, well below the 50-point spreads we have seen in the past few weeks.
The bad news is that the large price swings in stocks continue, with the Dow gapping up at the open, moving in a 300 point trading range with ease. But the good news is that stocks — and traders — are a lot calmer, despite the price swings. And there's one reason for the markets slow move up today.
Is a second Bretton Woods coming? Mr. Sarkozy, the French president, met with President Bush over the weekend. They agreed to a series of summit meetings in the next few months to discuss common strategy for the global economy, but don't kid yourself: behind that innocuous goal, Mr. Sarkozy is clearly pushing for a change in the way capitalism is practiced.
Stocks jump, fall, then rise. The whipsaw action has recently become commonplace.
Has the IPO coach turned into a pumpkin?
We need evidence that growth is picking up, and we got that in March's retail data.
Companies need a good stock market at their back to have a strong IPO, and we haven't had that.
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Ex-Galleon trader Turney Duff offers an insider's view of how learned about Wall Street's dirty little secret: insider trading.
Fed speak may trump earnings reports and economic data, guaranteeing another volatile trading day.