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The Twitter-24/7 Wall St. Market Report 10/7/2010 Gold & Jobless Claims

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By Douglas A. McIntyre Published
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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.

Zerohedge:  Initial Jobless Claims Decline, Continuing Rise, After Prior Upward Revision 23 Of 24 http://bit.ly/b06D3l

CNN Money: Number of people filing for 1st-time jobless benefits dips 11,000 in latest week to 445,000, government says. Lowest since early July $$

CNN Money: Google’s next giant revenue stream http://bit.ly/cxATKl

CNN Money: Ford pulls ahead of its rivals http://bit.ly/dp9Y1f

Reuters Biz: Oil companies plan new U.S. oil spill fund http://dlvr.it/6gmVQ

FT: BP reveals ‘giant’ oil discovery: The Tiber field, in deep water about 250 miles south-east of Houston, is likel.. http://bit.ly/PKvcE

MarketWatch: U.S. weekly jobless-benefits claims fall by 11,000 http://on.mktw.net/9e2l2a

MarketWatch: Gold futures sail past $1,360 an ounce ahead of European monetary-policy decisions http://on.mktw.net/d0oW32

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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