The Twitter-24/7 Wall St. Market Report (6/22/2011) Jobless Claimes Depression

Twitter  has, by most estimates, 225 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.

CNNMoney: Initial filings for unemployment insurance climb by 9,000 in latest week to 429,000, Labor Department says. http://CNNMoney.com

MarketWatch: U.S. initial jobless-benefits claims climb to 429,000 http://on.mktw.net/mBKwnR

Zerohedge: Oops: US Initial Jobless Claims (Jun 18) W/W 429K vs. Exp. 415K (Prev. 414K)

NYT: Saab Workers Miss a Payday http://nyti.ms/iINmWg

Yahoo! Finance: Greek Unions Call General Strike for June 28, 29 http://yhoo.it/ktmOpn

NYT: Group of 20 Agrees on Steps to Mitigate Food Price Swings http://nyti.ms/mG71Tf

MSNBC: 10 brands that won’t be around in 2012 http://on.msnbc.com/iN6P6A

Douglas A. McIntyre