The Twitter-24/7 Wall St. Market Report GDP Up 2%

Twitter  has, by most estimates, 145 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: U.S. GDP growth accelerates to 2%; consumer spending at highest level since 2006 http://on.mktw.net/ajHd46

CNN Money: U.S. economy grows at 2% annual rate in third quarter, slightly higher than prior three months, government says. $$

NYT: U.S. Economy Grew at 2% Rate in Third Quarter

Zerohedge: Q3 GDP Comes On Top Of Expectations, Prints At 2.0%http://bit.ly/dv2oT6

FT: Halliburton and BP knew risks before spill: Halliburton and BP had data weeks ahead of the Gulf of Mexico oil spil… http://bit.ly/a9bK9x

FT: Merkel struggles to win treaty support: The chancellor’s fellow heads of government were preparing to delay a fina… http://bit.ly/d6iwXJ

Reuters: Merck sales disappoint, takes big Vioxx charge http://dlvr.it/7k4j1

Douglas A. McIntyre