Trader Talk with Bob Pisani
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Taper Tantrum! Fed Chairman Ben Bernanke stated again that if economic conditions continue to improve, the Fed will begin tapering its bond purchases by year end.
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Specialists Running Off Trading Floor? NYSE Will Survive
Posted By: Bob Pisani
The floor of the NYSE is buzzing with nervousness and excitement. Specialist firm Van der Moolen has announced they are exiting the business; rumors that other big specialist firms will exit are rampant. Is this it? Will the fabled NYSE floor survive?
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Markets Have No "Leadership" At This Point
Posted By: Bob Pisani
After the bell, Kohls joined JC Penney and lowered fourth quarter guidance, down 3%. What's wrong with today? No follow-through to Tuesday rally, first. Second, we have now ended at the lows 5 of the last 7 days. Third: no leadership
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Van der Moolen Specialist Exit Good For NYSE
Posted By: Bob Pisani
NYSE CEO's John Thain's departure to run Merrill Lynch and the elevation of co-COO Duncan Niederauer to CEO was not the only excitement at the NYSE. After the bell, specialist firm Van der Moolen announced that they were seeking to exit the specialist business altogether. The problem? Despite a significant investment, the specialist part of the operations continue to lose money.
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CPI, Subprime Helping Markets, JC Penny Disappoints
Posted By: Bob Pisani
Good and bad news this morning. Good news: CPI in line with expectations. --More relief on the subprime front. UBS said they do not expect a major write-down of subprime-related exposures.
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John Thain To Merrill: What's It Mean For NYSE?
Posted By: Bob Pisani
We are waiting to hear the outcome of the NYSE's unscheduled board meeting. Let's assume that John Thain is indeed leaving to go to Merrill Lynch, as has been reported. Questions for the NYSE: 1) Will the stock take a hit?
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Inflation, Retail, Subprime Numbers Help Futures Rally
Posted By: Bob Pisani
Futures rallying on economic and subprime news. 1) Economic news showed no inflation at the wholesale level and retail sales on the aggregate were a tad better than expected. 2) Two large financial companies made relatively positive comments concerning their subprime exposure this morning.
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Oil, Wal-Mart Among Reasons For Rally
Posted By: Bob Pisani
Why the rally? Let me count the ways: 1) Stocks oversold (financials in particular over-shorted). 2) Oil drops (helping overall market). 3) Wal-Mart does not lower guidance for the fourth quarter (retailers rally).
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Market Rally? Here's Why It Happened
Posted By: Bob Pisani
Huh, what happened? With the understanding that we are still midday, here's the reasons for the rally: 1) The primary driver is that stocks have been dramatically oversold, and in the case of financials, heavily shorted.
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Traders Feel Market Still Hostage To Credit Crisis
Posted By: Bob Pisani
What's up with these last hour sell-offs three of the last four days? Many traders believe there is another major round of quant fund de-risking which is forcing many other large, plain vanilla hedge funds to de-risk.
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Buy Tech, Sell Financial "Plan" Falling Apart
Posted By: Bob Pisani
The market is finishing at the lows, three of the last four days. A tough situation, since traders now get unnerved in the last hour, even if the trend is neutral going into the close (as it was today), or even if the trend is up (as it was on Friday, and stocks still fell apart in the last hour).
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About Trader Talk with Bob Pisani
Direct from the floor of the NYSE, Trader Talk with Bob Pisani provides a dynamic look at the reasons for the day’s actions on Wall Street. If you want to go beyond the latest numbers— Bob will tell you why the market does what it does and what it means for the next day’s trading.
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A CNBC reporter since 1990, Pisani reports on Wall Street and the stock market from the floor of the New York Stock Exchange. Follow him on Twitter @BobPisani.
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Wall Street
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OK, so the Fed has set the stage to end its bond-buying program and the Dow fell over 200 points. What happens now?
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CNBC's Maria Bartiromo discusses the day's top business and financial stories, and looks ahead to tomorrow's Closing Bell.
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