The Twitter-24/7 Wall St. Stock Market Report (11/17/2010) Target Earnings, Housing Starts

Twitter  has, by most estimates, 145 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.

MarketWatch: U.S. housing starts fall nearly 12% in Octoberhttp://on.mktw.net/b4n3Ij

MarketWatch: U.S. consumer prices rise 0.2% in October http://on.mktw.net/abu1Pq

CNN Money: New deficit plan would cut $6 trillion http://bit.ly/9TKMY6

CNBC: Warren #Buffett tells CNBC that he doesn’t think QE2’s impact will be huge

Reuters Biz: Target profit tops Street; sees stellar holidays http://dlvr.it/8hNWC

DailyFinance: Target Earnings Top Estimates as Retailer Anticipates Strong Holiday Season http://aol.it/9oGV6B

Douglas A. McIntyre