The Twitter-24/7 Wall St. Market Report (6/9/2011) Jobless Claims, Trade Gap

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.

MarketWatch: Weekly first-time jobless claims rise to 427,000, up 1,000; stock futures stay higher http://on.mktw.net/jUftnw

CNN Money: U.S. trade gap narrows to $43.7 billion in April. Weekly unemployment benefit claims rise by 1,000 to 427,000, government says.

Zerohedge: US Initial Jobless Claims (Jun 4) W/W 427K vs. Exp. 419K (Prev. 422K)

Yahoo! Finance: #Goldman, Other Firms scrutinized on #Libya Dealings http://yhoo.it/jGoDAH $GS

Yahoo! Finance: Fewer People Likely Applied for #Unemployment Benefits http://yhoo.it/kvE6VQ

FT: $GOOG and $APPL top the list of the world’s most reputable companies: http://onforb.es/lPjLF3

CNN Money: Citigroup reported security breach, where a hacker accessed personal information from hundreds of thousands of accounts http://bit.ly/ip3ocr

Douglas A. McIntyre