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
MarketWatch: NYSE-Euronext shares rise on talk of rival bid to Deutsche Boerse’s http://on.mktw.net/dYSsot
Reuters: Consumer spending rises 0.7 percent in Febhttp://dlvr.it/Lj9k7
WSJ: Nissan Sees Output Recovery Within Weekshttp://on.wsj.com/eWLzpY
Zerohedge: Savings Rate Dips As Consumers Spend More, Earn Less In February http://is.gd/SxU7BM
WSJ: Americans’ spending in February rose 0.7%, while incomes were up 0.3% http://on.wsj.com/hsTdl4
MSNBC: Consumer spending rose sharply in Oct.http://on.msnbc.com/gGCfMW
MarketWatch: U.S. disposable incomes pinched in February as prices rise http://on.mktw.net/hmPq2t
CNBC: Feb. Personal Income up 0.3%, Personal Spending up 0.7%
Douglas A. McIntyre
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