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Trader Talk with Bob Pisani

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  Friday, 2 Nov 2007 | 11:51 AM ET

LM's Bill Miller Worry: U.S. Consumption Slowdown Effect

Posted By: Bob Pisani
Bill Miller at Legg Mason just sent a letter to his investors. He correctly identifies the key issue: "The issue for the stock market and for the global economy is the extent to which the slowdown in U.S. consumption will spill over into a decline in global production next year" »Read more
  Friday, 2 Nov 2007 | 11:07 AM ET

Job Numbers: Market Bulls Like The Count

Posted By: Bob Pisani
The bulls got what they wanted--nonfarm payroll TWICE the estimate at 160,000. Remember the game now: good news is good news, that is, we need strong economic data now to dampen down recession and larger slowdown fears. S&P futures up 10 points. Strength was in professional and business services, leisure and hospitality strong. »Read more
  Thursday, 1 Nov 2007 | 5:21 PM ET

Jobs Numbers: Only If Really Bad Will Fed Cut More?

Posted By: Bob Pisani
Tomorrow’s jobs report is more important than usual. The Fed has implied that unless the data gets really bad they are not going to lower rates again (most feel they will have to anyway). This means for the time being the markets can no longer play the "bad news is good news" story... »Read more
  Thursday, 1 Nov 2007 | 10:52 AM ET

Financials, Energy: Big Problems For Markets

Posted By: Bob Pisani
In addition to the realization that economic news would have to be really bad for the Fed to cut rates further, there are two problems with the markets today, both dealing with a change in perception on two key sectors--financials and energy. »Read more
  Thursday, 1 Nov 2007 | 9:17 AM ET

Why Futures Are Down Today

Posted By: Bob Pisani
Futures are down for several reasons: 1) Now we're really data dependent. Part of the problem with the market this morning is the realization that the economic data will have to be REALLY weak for the Fed to lower rates further. »Read more
  Wednesday, 31 Oct 2007 | 4:06 PM ET

Market Lowers Expectations For Further Rate Cuts

Posted By: Bob Pisani
The markets got the rate cut they wanted, but the Fed signaled an increased concern with inflation, and the market is responding by ratching down its expectations for further rate cuts. But the Fed also noted that "economic growth was solid" (a nod to the stronger than expected GDP growth of 3.9%), and that "the strains in the financial markets have eased somewhat." »Read more
  Wednesday, 31 Oct 2007 | 3:07 PM ET

Markets Get Fed Cuts But Future Ones In Doubt

Posted By: Bob Pisani
The markets got the cuts they wanted, but not the wording, which was not friendly to those who wanted a clearer signal that more rate cuts were coming: 1) the Fed said there was an equal balance between the inflation risk and risk to growth, 2) Hoenig dissented... »Read more
  Wednesday, 31 Oct 2007 | 12:36 PM ET

Market Worry: Consumer Contagion Coming?

Posted By: Bob Pisani
Despite the positive economic news, there is concern about the consumer out there. Morgan Stanley just downgraded large cap banks like Citi, Bank of America, and Wells Fargo; the note was ominously titled, " Consumer Contagion Coming." »Read more
  Wednesday, 31 Oct 2007 | 8:54 AM ET

Economic Numbers Confusing Fed On Rate Cuts?

Posted By: Bob Pisani
The economic numbers today indicate the difficulty facing the Fed: 1) Third quarter GDP estimates, at 3.9% (best in 6 quarters!), was well above expectations. 2) October ADP, a read on private sector job growth, surprises on the upside--106,000 vs the consensus of 58,000 and up from a revised 61,000 in September. »Read more
  Tuesday, 30 Oct 2007 | 4:58 PM ET

Commodity Shippers Take Big Hits

Posted By: Bob Pisani
Vague reports were the orders of the day: 1) Late in the day shippers that specialize in carrying bulk commodities such as coal, iron ore, and grains, as well as bauxite, fertilizers, and steel products, fell apart: stocks like Dryships down 18%, Eagle Bulk Shippiing down 9%, TBS  down 14%, all on concerns that bulk shipping rates may be coming down »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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