The Twitter-24/7 Wall St. Market Report (1/24/2011) EU Inflation, Toyota King

Twitter  has, by most estimates, 175 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 tweets are a sign of which companies the Twitter universe is interested in. Together, these financial sites are followed by nearly 1,000,000 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: Cocoa Export Ban Sends Cocoa Prices Surging, Ivory Coast Violence Expected http://is.gd/HXALd3

Zerohedge: EU Commission says important that Ireland passes the finance bill soon. Preferably before there is an uprising

CNNMoney: Economists see more hiring on the way http://bit.ly/eLsBYw

Reuters: Euro zone PMIs indicate rising inflation pressure http://dlvr.it/Dz8Gd

Reuters: GM falls just shy of Toyota in 2010 sales rankinghttp://dlvr.it/DyLbW

Reuters: Treasury’s toxic asset funds gain 27 percent http://dlvr.it/Dy4ls

Yahoo! Finance: McDonald’s reports higher quarterly profit http://yhoo.it/fJtOwM#earnings

Yahoo! Finance: J.C. Penney exiting catalog, closing some storeshttp://yhoo.it/hlvbEd $JCP

Douglas A. McIntyre