A CNBC reporter since 1990, Bob Pisani has covered Wall Street and the stock market for nearly 20 years. Pisani covered the real estate market for CNBC from 1990-1995, then moved on to cover corporate management issues before becoming Stocks Correspondent in 1997.
In addition to covering the global stock market, he also covers initial public offerings (IPOs), exchange-traded funds (ETFs) and financial market structure for CNBC.
In 2017, Pisani was honored with a Lifetime Achievement Award from the Security Traders Association of New York for "dedication to the Association and the Industry."
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, Pisani 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.
US stocks moved off their lows a couple of hours ago, as German Chancellor Angela Merkel and French President Nicolas Sarkozy issued a joint statement saying they will have a "definitive agreement" on recapitalization of European banks and expanding the EFSF "by Wednesday, at the latest." Wednesday? The EU Summit is on Sunday.
Market are expecting more volatility. Dean Curnutt and others have noted that the S&P 500 is near where it was a week ago (1,202) but the VIX is almost 20 percent higher (from 30 to about 36). Market are expecting higher volatility because a lot is unsettled in Europe.
The German newspaper Die Welt said the German government could not rule out postponing the EU summit this weekend. The followup headline from Reuters: "Senior EU sources say unaware of any plan to postpone Sunday's EU Leaders' summit." Of course they are unaware.
No shock and awe this weekend? It sounds like Europe is going back to incremental changes. Traders have been anticipating the European Union summit on Sunday will resolve issues related to: 1) a greater haircut on Greek debt; 2) recapitalization of banks; and 3) how to use the European Financial Stability Facility.
Stocks have come off their highs on a series of headlines out of Europe. With four days to go until the EU Summit, there are reports that the Germans and French are unable to agree on a plan for leveraging the EFSF, or that using the EFSF as a "first loss" insurance policy might not be legally possible.
Naturally, skeptics abound, particularly around the concept of using the EFSF as a "first loss" insurance policy. Under this scenario, sovereign bonds will be issued to finance expiring bonds, and the EFSF will be used to back, say, the first 20 percent of any losses.
Today, Europe ratchets up expectations. A day after German Chancellor Angela Merkel tried to talk down expectations at the EU Summit Oct. 23, France's President Nicolas Sarkozy, quoted in the Financial Times, said they would be taking "important, very important decisions in the coming days."