The Twitter-24/7 Wall St. Market Report (7/13/2011) Capital One Earnings, Bernanke & Congress

Douglas A. McIntyre

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.

Yahoo! Finance: Capital One 2Q profit up, plans $2B stock offering $COF #earnings

Reuters: Bank funding crunch overshadows Europe stress test

Zerohedge: Today’s Economic Data Docket – Bernanke Presentation To Congress On State Of The Monetary Disunion

Yahoo!: Bernanke to face grilling on jobs, debt, Europe

FT: Saudi oil output hits 9.7m barrels a day #FinancialTimes

WSJ: ConocoPhillips Ordered to Halt China Oil Operation

Reuters: Moody’s cuts Ireland to junk, warns of second bailout

CNNMoney: China GDP: Economists were expecting a gradual slowdown, as Beijing tries to avoid a ‘hard landing.’ #China #economy

NYT: China’s Economy Slowed a Bit in the 2nd Quarter

MSNBC: China’s breakneck growth rate slows

Douglas A. McIntyre