The Twitter-24/7 Wall St. Market Report (9/30/2010) GDP, Jobless Claims, And Ireland

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: Initial Claims Come at 453K, While Prior Print Is Revised Higher, As 300K Claimants Fall Of Benefits http://bit.ly/amCXDf

CNN Money: Jobless claims edge lower http://bit.ly/avVZ32

CNN Money: Second-quarter GDP revised higher to 1.7% annual rate. Initial jobless claims decline 16,000 to 453,000 in the latest week. $$

CNN Money: Ireland and Spain reignite euro zone fears http://bit.ly/9HLAD0

Douglas A. McIntyre