The Twitter-24/7 Wall St. Market Report; GDP Stuck Down

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

MarketWatch: Citigroup downgraded by Goldman; Wells Fargo upgraded http://on.mktw.net/fItPkrless than a minute ago via MarketWatch

Reuters Biz: Fourth-quarter growth revised down to 2.8 percenthttp://dlvr.it/HZkG13 minutes ago via dlvr.it

BBC: US growth estimate revised downhttp://bbc.in/gr7E9N3 minutes ago via twitterfeed

CNN Money: GDP report: Economic growth revised sharply lowerhttp://bit.ly/dSNMY93 minutes ago via twitterfeed

Yahoo! Finance: GDP: Fourth-quarter growth revised down to 2.8%http://yhoo.it/fEIdxg4 minutes ago via bitly

Bloomberg: U.S. Economy Grows Less Than Earlier Estimated as State Budget Cuts Deepen – http://ow.ly/43iSv ^ad9 minutes ago via HootSuite

Douglas A. McIntyre