The Twitter-24/7 Wall St. Market Rumors (2/14/2011) Air Travel Lift, Federal Budget

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

WSJ: Nokia Eyes Windows Phone Launch This Year

USAToday Money: Most Americans think China is No. 1 economy; it isn’t

The Atlantic: President Obama Unveils $3.7 Trillion Budget Plan:http://tumblr.com/xed1ifgt81

Yahoo! Finance: Obama budget director calls new spending blueprint ‘shared sacrifice’ in budget-cutting

NYT Business: China’s Trade Surplus Shrinks as Nation Imports More

Yahoo! Finance: Nokia’s Microsoft deal gets renewed hammering

Yahoo! Finance: Airline association IATA expects 3.3 billion air travelers by 2014, up 32 percent from 2009

Douglas A. McIntyre