The Twitter-24/7 Wall St. Market Report (9/24/2010) Gold Price, Durable Goods

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: Durable Goods Miss Consensus As Nondefense Shipments Plunge 40.2%, Ex-Transporation Beat Expectations http://bit.ly/dlgVgf

CNN Money: Gold breaks through $1,300 an ounce http://bit.ly/cLcCe9

Reuters Biz: Durable goods orders fall as business spending rises http://dlvr.it/5rGxL

Reuters Biz: Netflix signs expanded license agreement with NBC http://dlvr.it/5r8kM

MarketWatch: U.S. durable-goods orders drop 1.3% for August; stock futures extend gains http://on.mktw.net/bZU0Ah

MarketWatch: Gold for December delivery hits record intraday high of $1,300 an ounce http://on.mktw.net/bFCyCy

Yahoo! Finance: Report: HSBC’s CEO to leave after losing fight to move up to chairman http://yhoo.it/cwST5a

Douglas A. McIntyre