The Twitter-24/7 Wall St. Market Report: Housing Starts Rise

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.

ZeroHedge: As a reminder July existing home inventory surged from 8.9 months to 12.5 months

ZeroHedge: Housing Starts Bounce Along Bottom, Hit 598K, Beat Expectation Of 550K As Housing Inventory Surges http://bit.ly/9DWcyt

CNN Money: Housing starts surge 10.5% in August to annual rate of 598,000, government says. Permits rise 1.8%. $$

FT: Microsoft to offer three-screen services: The US software group is to join Sony and Apple in offering a music and … http://bit.ly/aIKnrH

Reuters Biz: Housing starts at 4-month high in August http://dlvr.it/5fRMy

Douglas A. McIntyre