The Twitter-24/7 Wall St. Market Report 11/19/2010 Harrah IPO, Bernanke & China

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: Casino operator Harrah’s Entertainment cancels IPO plans, citing market conditionshttp://on.mktw.net/ceRSn6

MarketWatch: China’s central bank raises reserve-ratio requirement by 50 basis points http://on.mktw.net/cZGhic

CNN Money: China raises reserve requirement again http://bit.ly/9ti54u

Reuters Biz: Bernanke hits back at Fed criticshttp://dlvr.it/8psFn

Reuters Biz: China raises banks’ reserve requirements again http://dlvr.it/8pPF5

FT: Bernanke raps China on surplus: In a firm rebuff to complaints the Fed is manipulating the dollar Ben Bernanke t… http://bit.ly/cvekY5

FT: Irish showdown over corporate tax: Tax rate has emerged as a major point of contention as negotiators from the E… http://bit.ly/9PlpEU

Yahoo! Finance: Harrah’s cancels plans for IPO http://yhoo.it/azJ7b3

Douglas A. McIntyre