Trader Talk with Bob Pisani


  Thursday, 6 Dec 2007 | 3:22 PM ET

Stocks Heating Up Over Mortgage Freeze Plan

Posted By: Bob Pisani
Stocks have gained steam in the last hour, but particularly after 2:30 pm as Fed Chairman Bernanke came out and gave his blessing to the plan. Why? Because stock traders are pragmatists. Is the Bush mortgage plan a "rational response" or a "bailout?" »Read more
  Thursday, 6 Dec 2007 | 3:01 PM ET

Mortgage Plan Brings Rally For Homebuilders

Posted By: Bob Pisani
Well. We haven't seen this kind of ideological food fight in a long time. The battle among traders about whether President Bush's plan is a rational response to the crisis or an unconscionable bailout is really beside the point. The central problem is that freezing adjustable mortgage rates is not a long-term solution to even the ARM problem. »Read more
  Thursday, 6 Dec 2007 | 12:06 PM ET

Markets "Feeling Good" On Jobs, Mortgage Plan

Posted By: Bob Pisani
Major indices at their highs for the day. Helping today: Initial jobless claims roughly in line with expectations. Bush/Congress tackles mortgage issues. SIVs less a problem? »Read more
  Thursday, 6 Dec 2007 | 9:17 AM ET

Bonds Under Pressure From Credit Problems?

Posted By: Bob Pisani
Are bonds about to lose their flight-to-quality premium? The Fed, the executive branch, the legislative branch, and now even the Bank of England (which cut its key rate a quarter point to 5.5 percent) are working to resolve credit problems. The 10-year is looking toppy here. »Read more
  Wednesday, 5 Dec 2007 | 9:40 AM ET

Market Looks To Jobs, As Financials Still Face Troubles

Posted By: Bob Pisani
Futures up a bit on the strong ADP report. This is a clear sign that the market wants a decent jobs report, even if it might slightly reduce the chance of an aggressive Fed rate cut. As noted yesterday, financials analysts are now cutting 2008 estimates. »Read more
  Tuesday, 4 Dec 2007 | 1:24 PM ET

Hedge Fund Traders: Non Farm Payroll, Earnings Are Keys

Posted By: Bob Pisani
Why are financials weak again? Because the Street has come to realize that estimates for 2008 are too high. They have already attacked earnings for the fourth quarter (S&P Financial Sector estimates for Q4 are down 20% compared to the same period last year); now they are attacking 2008. »Read more
  Tuesday, 4 Dec 2007 | 9:09 AM ET

Financials Put The Pressure On Futures

Posted By: Bob Pisani
Futures lower this morning on pressure from the financials. The UBS headline for the bank analyst report this morning tells the story: lower earnings ahead. They are adjusting their 2008 earnings expectations for many banks and brokers. »Read more
  Monday, 3 Dec 2007 | 4:48 PM ET

Van der Moolen, AmEx: The Latest Acquisition Talk

Posted By: Bob Pisani
We are still waiting for the NYSE to announce the winner of the bid for Van der Moolen's specialist business. Van der Moolen announced a couple weeks ago that they were exiting the business; I have reported Lehman is the winner, but there has been no official announcement. »Read more
  Monday, 3 Dec 2007 | 4:38 PM ET

Financial Sell-Off: Blame Tax Loss Selling

Posted By: Bob Pisani
Financials again underperformed today, despite Treasury Secretary Paulson's press conference highlighting his efforts to help homeowners whose ARMs are resetting at higher rates. One likely cause of the continuing selloff in financials is tax loss selling. Keefe Bruyette Woods highlighted this in a note today to investors. »Read more
  Monday, 3 Dec 2007 | 1:35 PM ET

Wall Street: Will Paulson's ARM Plan Really Work?

Posted By: Bob Pisani
Treasury Secretary Paulson has been floating a plan to help people whose Adjustable Rate Mortgages (ARMs) are resetting at higher rates. The Street, for the most part, supports the plan, but does it really change the fundamentals of the housing industry? »Read more

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.


  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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