The Twitter-24/7 Wall St. Market Report (5/11/2011) Massive Trade Deficit

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.

Yahoo! Finance: Who says we don’t make anyting? U.S. exports record $173 b in March, up 15% from ’10, up 37% from ’09 http://1.usa.gov/k6yik6

Zerohedge: Biggest trade deficit since June 2010 when it hit $49.9 billion

NYT: U.S. Trade Deficit Widens in March on Pricier Oil http://nyti.ms/lYrYlf

Reuters Biz: Macy’s reports higher profit, raises 2011 outlook http://reut.rs/la6Bho

Zerohedge: March Trade Deficit Jumps To $48.2 Billion As Imports Surge http://is.gd/ehaqRU

Yahoo! Finance: US trade deficit widens in March on pricier oil http://yhoo.it/lzWRSw

WSJ: Breaking: The U.S. trade deficit widened by 6% in March to $48.18 billion. The gap with China contracted 4%. http://on.wsj.com/lCBxC8

MSN Money: Trade deficit widened more than expected http://on.msnbc.com/knatsF

Douglas A. McIntyre