The Twitter-24/7 Wall St. Stock Market Report 5.10 The Wisdom Of Crowds?

Twitter has, by most estimates, 100 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 tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 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.

Among the daily top trending  symbols on stock twitter aggregator StockTwits include Procter & Gamble Company (NYSE: PG), Monsanto Company (NYSE: MON), Energy Solutions (NYSE: ES), FirstFed Financial Corp. (NYSE: FED), and SPDR Dow Jones Industrial Average.

CNN Money: Fannie Mae seeks $8.4 billion in additional government aid after reporting a $13.1 billion loss in the first quarter.

MarketWatch: Oil rallies 4% in wake of EU aid plan http://on.mktw.net/cT7s9d

MarketWatch: Stock futures rise sharply in wake of EU plan to protect euro; Dow futures up 400 points http://on.mktw.net/clFJIn

FT: Investors welcome €720bn EU bail-out: Global Markets Overview: Euro claws back last week’s losses as fears over so… http://bit.ly/cvgA9f

Reuters Biz: Goldman warns of more litigation, investigations http://link.reuters.com/wer43k

Reuters Biz: McDonald’s April same-store sales up 4.9 percent http://link.reuters.com/ver43k

Douglas A. McIntyre