The Twitter-24/7 Wall St. Stock Market Report 7.7.2010 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 StockTwits are SPX, IMAX Corporation (NASAQ: IMAX), FAS, Ctrip.com International (NASDAQ: CTRP), DAX, and Sears Holdings (NASDAQ: SHLD).Economist: China says won’t dump Treasuries; surprise fall in German industry orders; US service firms grow weakly http://ow.ly/283ua

DailyFinance: Mortgage Loan Applications Rise on Refinance Demand http://bit.ly/axWxcO

DailyFinance: Sony Cuts Price in Latest Round of E-Reader Wars http://bit.ly/bumG47

Yahoo! Finance: California Pension Funds in Big Trouble http://yhoo.it/9pwKpL

MarketWatch: Bond insurer Ambac gets listing warning from NYSE http://on.mktw.net/drf5pd

CNN Money: Dollar rebounds on uncertain economic outlook http://bit.ly/c3gJ2J

Reuters Biz: EU bank watchdogs set to detail stress tests http://link.reuters.com/feb36m

Reuters Biz: BP boss Hayward in MidEast talks as relief well advances http://link.reuters.com/pag36m

Douglas A. McIntyre