The Twitter-24/7 Wall St. Market Report (4/15/2011) Gas Prices, India Inflation

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.

MSNBC: Rising food, gas prices lift consumer inflation http://on.msnbc.com/gZM8eJ

CNN Money: Consumer prices rise at a faster annual rate of 2.7% in March, the government says. http://CNNMoney.com

MarketWatch: U.S. consumer-price index climbs 0.5% in March http://on.mktw.net/fhW4cx

MarketWatch: N.Y.-region manufacturing gauge hits one-year peak http://on.mktw.net/e1mK9M

FT:  BofA profits plunge 36%: Bank of America reported a 36% decline in first-quarter profit as the foreclosures c… http://on.ft.com/ecmPTX

Bloomberg: Gold Surges to Record as Inflation Concern Stokes Demand http://bloom.bg/i1vhv4

Bloomberg:  India Inflation Quickens to 8.98%, Increasing Pressure on Rates http://bloom.bg/gJiWbR

Reuters : BofA Q1 profit lower than expected; names new CFO http://dlvr.it/NbJ5G

Reuters: Moody’s cuts Ireland by two notches, euro falls http://dlvr.it/NbJ5V

Douglas A. McIntyre