The Twitter/247 Wall St. Market Report (2/28/2011) Budget Fears, Personal Income

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: U.S. personal incomes jump 1% while spending rises 0.2% minutes ago via MarketWatch

Reuters: January air traffic picks up, high oil prices loom: IATA minutes ago via

MSNBC: JPMorgan fund in talks to buy Twitter stake: report minutes ago via feeds

Yahoo! Finance: Discount service Groupon launches China site 1 hour ago via bitly

Zerohedge: Saudi Arabia Calms Oil Market, Happy To Add Oman’s 850,000 Bbls/Day Output To Its Own Extra Production 1 hour ago via TweetDe

Yahoo! Finance: Growing federal budget deficit is economists’ biggest worry 1 hour ago via HootSuite

Douglas A. McIntyre