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.
The devil is now in the details, as traders are concerned that the Treasury bill will be either dramatically watered down (Senator Schumer asked Sec. Paulson if he would be satisfied with substantially less than $700 billion, and then let the next administration deal with it--Paulson wisely said "No"), or so burdened with punitive measures that banks will be reluctant to participate;
The fire sale prices that financial institutions are being forced to use by mark-to-market requirements are significantly less than the hold-to-maturity price. Due to the uncertainty over pricing, private capital is unwilling to come in and buy.
It's clear now that the bill will have clauses restricting executive compensation, partial ownership of some of the companies where there is significant purchasing of securities, and some kind of mortgage mitigation.
Futures are down slightly, but that has little meaning these days. Many traders feel that yesterday's drop was due to: 1) distortions in price discovery created by the changing short sale rules; 2) the realization that many banks are still undercapitalized.
Volatility with no volume. That's what we got today. The Dow swung in a 600 POINT RANGE, but volume was about half what it was at the end of last week.
Futures are practically unchanged, with many traders noting this morning that hedge fund and mutual fund companies are continuing to see redemptions, and the profit outlook is still poor. As a result, there is debate about how strong buying interest will be here.
JPMorgan Chase will cut about 5,000 jobs over the next year, as the bank closes branches and slims down operations, The Wall Street Journal reported.
Banks have been outperforming the market, and in the long term, technician Rich Ross sees a "beautiful breakout."
After Dick Fuld's first public speech since the crisis, this PR guy had one thing to say: Don't call it a comeback.