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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As for techs, traders note that there has been less focus on that sector, because everyone is still in the process of unwinding the Long Energy/Short Financials trade. These numbers will reinforce the bear position that we are in a poor market for tech.
Bears have written to me suggesting that these stocks have all been crushed and these bounces are "insignificant" in light of how far down they are from the highs. The point isn't whether these stocks get back to their levels of a year ago in two days;
Stocks have rallied just after 1 pm ET as oil broke through the lows of yesterday ($132). Oil is now down 11 percent from its intraday high last Friday. The overall market rallied, but in particular consumer discretionary stocks (retailers, autos, home builders) rallied. Good examples:
Are we at a bottom? Still not clear, but when you have rallies like yesterday, when you have Lowry, the oldest technical analysis service in the U.S., say to their clients, "The last two days appeared to represent a possible selling climax," you do get a lot of people nibbling, and today we are helped by Jamie Dimon and friends.
The two factors moving the market today were 1) the drop in oil, now down almost 10 percent in two days, and 2) the rally in financials.
The build in oil inventories is providing a rare, two-day drop in oil and a modest boost to stocks midday. Oil is down nearly 10 percent in the past two days. On the decline in oil, airlines are rallying, and energy stocks are dropping notably for the second day in a row.
Which is the Street more worried about--declining stock prices, particularly for financials, or inflation? It's both, and this morning's action illustrates that concern. It's been a roller coaster of a morning, up on Wells Fargo, down on consumer inflation higher than expected.
In verbal comments to the Senate, Mr. Cox said that he will institute an emergency order that will prohibit naked short selling in Fannie Mae and Freddie Mac. Naked short selling is shorting a stock without actually borrowing it.
Alibaba filed an amended statement this morning, but investors are still waiting to see the IPO terms.
Emerging markets are gathering steam, a sign of the U.S. rally's global heft.
What's up with the flurry of activity around Alibaba?
Investors are trying to get the S&P 500 Index through 2000 again, but I'm not sure there is a catalyst to keep it there.
The lack of volume in this market might make it hard for the rally to continue, says veteran trader Art Cashin.
The mid-term election will be a disappointment—but that's a good thing for Wall Street, says hedge-fund manager Todd Schoenberger.
Charles Schwab has lost a case against Morgan Stanley, accusing it of improperly recruiting brokers from a Schwab San Francisco branch.