Peter Barnes
Peter Barnes
Peter Barnes joined FOX Business Network (FBN) in September 2007. He serves as FBN’s senior Washington correspondent.
Until 2004, Barnes served as the Washington bureau chief and correspondent for television group Hearst-Argyle. He has also worked at numerous business programming outlets, including TechTV from 2001 to 2003, where he was the Washington bureau chief for the satellite channel which specialized in technology coverage.
Barnes served as an anchor and Washington correspondent for CNBC from 1993 to 1998. In 1996, he anchored Capitol Gains, an election year weekday morning show on business, economics, and politics. Barnes received a Cable ACE Award while at CNBC for a special series on retirement.
A graduate of Pennsylvania State University with a Bachelor of Arts in political science, Barnes also holds a Masters of Business Administration from the Wharton School at the University of Pennsylvania.
Barnes was born in Rochester, NY and raised in Philadelphia, PA.
FOX Translator
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A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
