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.
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.
Huh? Import prices from China rose 0.8 percent for the month. How did that happen? As one trader noted, "The days of importing deflation from China is over." Futures were also down as the February NY Fed survey was negative 11.7, the weakest since May 2003.
Once again, the energy sector is leading the market--in fact the AmEx Oil Index is up six days in a row. What's going on? Oil commodity traders don't believe the International Energy Agency's claim that oil prices will drop in response to slower U.S. growth (which they said yesterday), and have been bidding up oil, which at $94.40 is at its highest level in a month.
The story is on international growth today. Marriott beat, and along with everyone else on the planet reported stronger revenues (revenue per available room, or RevPAR, in this case) internationally than domestically: up 9.2 percent vs. 6.2 percent. First quarter guidance a tad below expectations. Remember, Starwood cut its 2008 forecast a short while ago.
The Buffett offer to take over the insurance liability of the municipal bond part of the mortgage insurers portfolio is causing a lot of debate on the Street. The general conclusion is, good for municipal bond holders, good for furthering a solution to another piece of the credit mess, but bad for the bond insurers, and the market is reflecting that in the down prices of the insurers today.
Stock futures have rallied about 6 points, bond futures have declined as Warren Buffet appeared on CNBC saying he has offered to take over the muni bond insurance exposure from the big 3 bond insurers (MBIA, Ambak, and FGIC)--about $800 billion worth.
Building materials supplier Masco this morning is parroting the downbeat comments of home builders recently. They're down 13 percent pre-open, on an earnings report that was below expectations.
The Twenty-First Amendment to the Constitution was ratified on December 5, 1933.
Is it time to step back from retailers?
Taper talk sets in as traders question whether the Federal Reserve will slow down its stimulus program.
Stocks rise as bond yields fall after poor employment component of ISM services report.
The unofficial odds are rising that the Fed will announce taper plans at its December meeting.
Three Wall Street trade groups sued the Commodities Futures Trading Commission to stop tough overseas trading guidelines they fear.
Paid in the form of assistance programs, the funds are in effect a subsidy to the banking industry, The Washington Post reported.