The Twitter-24/7 Wall St. Market Report (7/5/2011) China Vs. WTO, OECD Inflation

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.

MarketWatch: Western Union buying Travelex unit for nearly $1 bln http://on.mktw.net/jwEMzn

MSNBC: Why the Dow will end up plunging to 7,000 http://on.msnbc.com/lb2X3B

WSJ: OECD Inflation Rate Surges http://on.wsj.com/kIGkmk

MSNBC: Banks meet to discuss plan to help Greece http://on.msnbc.com/kw1w4T

FT: WTO set to rule on China raw material exports: WTO rejects China’s contention that its policy of limiting exp… http://on.ft.com/iuXAqE

Reuters: Euro zone growth slows, orders dry up: PMIs http://reut.rs/irb0bp

CNN Money: Lawmakers have identified more than $1 trillion in budget cuts. Republicans want far more. http://bit.ly/mzeRQU #debt #crisis

Douglas A. McIntyre