The Twitter-24/7 Wall St. Market Report (7/15/2011) Citi Earnings, Consumer Prices

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: Overall prices dip; consumers pay more for autos, clothes http://usat.ly/pJwyTJ

Yahoo! Finance: Swiss bank Credit Suisse’s offshore business targeted in US tax evasion investigation http://yhoo.it/oW0q74

Zerohedge: Empire Manufacturing Kicks Off Weak Q3 GDP, CPI Lower Than Expected On Gas Price Drop As Core Price Increase Continues http://is.gd/QzwCgM

Reuters: June consumer prices record largest drop in a year http://reut.rs/nrcY6e

Yahoo! Finance: Taiwan’s TSMC to make Apple chips on trial http://yhoo.it/pTbgjp

WSJ: U.S. consumer prices fell 0.2% in June, the first monthly drop in a year http://on.wsj.com/ojoGHg

NYT: DealBook: Citigroup Profit Rises 24% to $3.3 Billion http://nyti.ms/qgbrAT

Douglas A. McIntyre