The Twitter-24/7 Wall St. Stock Market Report 7.8.2010 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 most tweeted stocks on StockTwits are Madison Square Garden Inc (NYSE: MSG), Baidu Inc (NASDAQ: BIDU), SPX, VIVUS Inc (NASDAQ: VVUS), Tesla (NASDAQ: TSLA), AK Steel Holding Corporation (NYSE: AKS), and Netflix Inc (NASDAQ: NFLX).NYT: Greece Pushes Through Pension Overhaul Despite Protests http://nyti.ms/bCVx3L

MarketWatch: European Central Bank holds rates; Trichet press conference at 8:30 a.m. Eastern http://on.mktw.net/clr9j8

MarketWatch: Bank of England keeps rates at record low 0.5% http://on.mktw.net/cg7Kn4

FT: Brussels to look closely at Google probe: The fact EU commissioner has commented on the case for the first time si… http://bit.ly/aKlxO0

CNBC: IMF raises 2010 global economic growth forecast but says financial risks rising

WSJ: The European Central Bank left its key interest rate unchanged at 1.00% Thursday, as widely expected. http://wsj.com

DailyFinace: Bank of England Leaves Benchmark Rate at 0.5% http://bit.ly/bDGhFH

Douglas A. McIntyre