Investing

The Twitter-24/7 Wall St. Stock Market Report 5.18 The Wisdom Of Crowds?

Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million Twitter users. It raises the question of whether there is wisdom in crowds.

24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 Twitter users which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites.

Among the daily top trending  symbols on stock twitter aggregator StockTwits are S&P 500 (NYSE: SPX), Standard & Poor’s Depository Receipts (NYSE: SPY), Green Mountain Coffee Roasters Inc (NASDAQ: GMCR), United States Oil Fund, LP ETF (NYSE: USO), TiVo Inc (NASDAQ: TIVO), United States Steel Corporation (NYSE: X), InfoLogix (NASDAQ: IFLG).

CNN Money:   New home construction skyrocketed 40.9% in April, compared to last year, U.S. says. And 15.9% more building permits were issued. $$

MarketWatch: Housing starts jump to 18-month high in April as building permits plunge, U.S. data show http://on.mktw.net/9ilQnY

Reuters Biz: Home Depot profit tops Wall Street view http://link.reuters.com/mez74k

Reuters Biz: Greece gets $17.9 billion EU aid, to repay bond http://link.reuters.com/nez74k

Reuters Biz: Oil rebounds from five-month low http://link.reuters.com/wec84k

Reuters Biz: U.S. to probe spill as BP says more oil contained http://link.reuters.com/pad84k

MarketWatch: Home-improvement retailer Home Depot earns $725 million, a 41% rise for the quarter http://on.mktw.net/djwIuY

MarketWatch: Wal-Mart projects second-quarter profit growth as first-quarter sales rise 6% to $99.1 bln http://on.mktw.net/c8m1vb

MarketWatch: Housing starts jump to 18-month high in April as building permits plunge, U.S. data show http://on.mktw.net/9ilQnY

Douglas A. McIntyre

Is Your Money Earning the Best Possible Rate? (Sponsor)

Let’s face it: If your money is just sitting in a checking account, you’re losing value every single day. With most checking accounts offering little to no interest, the cash you worked so hard to save is gradually being eroded by inflation.

However, by moving that money into a high-yield savings account, you can put your cash to work, growing steadily with little to no effort on your part. In just a few clicks, you can set up a high-yield savings account and start earning interest immediately.

There are plenty of reputable banks and online platforms that offer competitive rates, and many of them come with zero fees and no minimum balance requirements. Click here to see if you’re earning the best possible rate on your money!

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.