The Twitter-24/7 Wall St. Market Report (5/13/2011): Consumer Prices

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.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.

NYT: Yum Bids for Chinese Hot Pot Chain http://nyti.ms/mshfSZ

Bloomberg: Germany and France Power Euro-Area Growth – http://ow.ly/4TI55

MSNBC: 10 states with the largest lottery jackpots http://on.msnbc.com/iWOkWZ

WSJ: Bank of Korea Trips Up Economists, Again http://on.wsj.com/kz3hjM

WSJ: Dr Reddy’s Quarterly Profit Doubles http://on.wsj.com/ieP2zd

NYT: Rising Food and Gas Costs Push Up Consumer Prices http://nyti.ms/ixDYxx

WSJ: Correction: consumer prices rose a seasonally adjusted 0.4% from March, not 4% http://on.wsj.com/iCd4r4

Douglas A. McIntyre