The Twitter-24/7 Wall St. Market Report (1/28/2011) GDP Up 3.2?

Twitter  has, by most estimates, 175 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

NYT Business: U.S. Economy Grew at 3.2% Rate in Late 2010http://nyti.ms/h90jbJ

WSJ: Sara Lee to Split in Two http://on.wsj.com/f6snC2

MSNBC Business: U.S. economy picked up speed as 2010 ended http://on.msnbc.com/gHAzI9

MarketWatch: U.S. economy expands less-than-forecast 3.2% in first estimate of fourth-quarter GDP http://on.mktw.net/eACevg

CNNMoney: U.S. economy grew at 3.2% annual rate in fourth quarter of 2010; personal consumption spending at highest level since 2006. $$

Zerohedge: 3 GDP Comes At 3.2% On Expectations Of 3.5%, 2.6% Previously http://is.gd/eCL3Ce

Douglas A. McIntyre