The Twitter-24/7 Wall St. Market Report (3/1/2011) Gas Prices Up 7 Days

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.

Reuters: Goldman estimates $3.4 billion in legal losseshttp://dlvr.it/HxdQy5 minutes ago via dlvr.it

MSNBC: Oil higher as traders eye Libyan exportshttp://on.msnbc.com/gy7wB811 minutes ago via msnbc.com feeds

Zerohedge: Saudi Stock Market Drops 7%, As Saudi CDS Hit 140 bps http://is.gd/Pok4b918 minutes ago via TweetDeck

CNN Money: Gas prices up for 7 days in a row http://bit.ly/fLUngD35 minutes ago via twitterfeed

Yahoo! Finance: Morgan Stanley hit by China-based hackers: report http://yhoo.it/ihGzngabout 1 hour ago via bitly

Yahoo! Finance: Treasury: China’s holdings of US debt jumps 30% based on annual revision of data http://yhoo.it/epiODGabout 2 hours ago via HootSuite

Douglas A. McIntyre