The Twitter-24/7 Wall St. Market Report (9/16/2010) Fedex, Jobless Claims

Investing

Published: September 16, 2010 9:09 am

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.

FT: Spain sells €4bn of debt as demand improves: Spain successfully borrows €3.97bn from the markets amid growing sign… http://bit.ly/b3wSUr

NYT: U.S. Adopts Tougher Stance on China http://nyti.ms/aEKzz1

CNN Money: FedEx: Economy improving but cutting 1,700 jobs http://bit.ly/9m61Gf

CNN Money: Jobless claims down for second week in a row http://bit.ly/cduKE5

CNN Money: Initial claims for unemployment benefits fall to the lowest level in 2 months to 450,000, government says. $$

Reuters Biz: Weekly jobless claims hit two-month low http://reut.rs/c9swKw

Reuters Biz: FedEx profit doubles, but shy of Wall Street view http://reut.rs/dqS9qk

Reuters Biz: August producer prices rise on energy rebound http://reut.rs/9NbMdY

Douglas A. McIntyre

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