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.
What caused the big market drops that began in August of last year? There’s a fascinating interview with Andrew Lo, director of MIT's Laboratory for Financial Engineering, in the new issue of Technology Review.
Futures are up slightly after yesterday's 90 percent downside day. The problem with yesterday is that it clearly reinforced the notion that we are still in a downtrend; many now expect the January lows to be tested. The Dow is down nearly 500 points in the last two trading sessions.
Bears are arguing that the ISM Services report--well below expectations--is the final nail in the rescission coffin. We now have several very weak data points in the last week: ISM Services, nonfarm payrolls, and new home sales. Only durable good orders recently have been above expectations.
Want to see how important global growth has become? YUM Brands beat, but look at the growth: mainland China same store sales up 17 percent, 5 percent growth worldwide, 1 percent in the U.S. YUM now gets nearly 45 percent of its sales outside the U.S.
The biggest problem the market has is the choppy economic data we have been getting, which is muting investor enthusiasm despite the Fed cuts. But there are definite positive developments, including: 1) we appear to have put in a short-term bottom; 2) market up on Friday on very bad jobs report a good sign; 3) Microsoft offer for Yahoo.
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.