The Twitter-24/7 Wall St. Stock Market Report 6.10.2010 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 most tweeted stocks on market aggregator Top Stock Tweets are EURUSD, BP plc (NYSE: BP), Apple Inc (NASDAQ: AAPL), GBPUSD , Macy’s (NYSE: M), GBPUSD . Microsoft Corporation (NASDAQ: MSFT), Bank of America Corporation (NYSE: BAC), Oracle Corporation, (NASDAQ: ORCL).
CNN Money: Number of people filing for first-time jobless benefits falls by 3,000 to 456,000, government says. $$

NYT: As Pressure Mounts, BP’s Shares Continue to Slip

Yahoo! Finance: Apple faces antitrust scrutiny $APPL

CNBC: More Than 6,000 Lawsuits Filed Against BP

Reuters Biz: SEC examining Goldman Sachs’ Hudson deals: report

Reuterz Biz: Banks pressured as Congress reform panel debuts

Reuters Biz: Apple faces antitrust scrutiny: report

FT: Obama’s BP attacks spark worries in UK: UK industry expressed alarm yesterday at the “inappropriate” and increasin…

FT: ECB leaves interest rates at 1%: The European Central Bank has left its main interest rate unchanged at 1 per cent…

MarketWatch: U.S. weekly jobless claims retreat by 3,000 to 456,000

MarketWatch: European Central Bank joins Bank of England in holding interest rates

MarketWatch: China’s May exports rise 48.5% year-on-year, beating expected 32% rise

Douglas A. McIntyre

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