Twitter has, by most estimates, 225 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.
USA Today: Consumer spending was weak in May, due to high gas prices http://usat.ly/lMCr1o
Zerohedge: Personal Income And Spending Both Lower Than Expected, PCE Deflator Surges, Savings Rate Higher http://is.gd/4dWnKl
NYT: French Banks Ready to Help Greek Bailout http://nyti.ms/iYrIPJ
FT: French banks agree Greek debt rollover: Nicolas Sarkozy confirms a plan that would see banks reinvest in Gree… http://on.ft.com/l6Vy7h
MSNBC: Americans spend at weakest pace in 20 months http://on.msnbc.com/iPCsIj
MarketWatch: U.S. consumer spending in May at low point for nearly a year http://on.mktw.net/jWDcDO
CNNMoney: Greek Parliament is scheduled to vote on austerity provisions, on top of belt-tightening measures implemented last year http://bit.ly/l26P4s
Douglas A. McIntyre
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