An Investigation into Influences of Tweet Sentiments on Stock Market Movements

Zhicheng Hao*, Yun-Heh Jessica Chen-Burger

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

The increasingly common practice by the public of using social media as an information source and basis for decision making for investment has given social media, such as Twitter, a growing influential role in people’s behaviour. We investigate the impact of Tweets on the US stock market using sentiment analysis. We examine how the sentiments in Tweets influence the price movements in S&P 500, an excellent indicator for the US stock market and economy in general. We compared the top five influential Twitter outlets and found WSJ, Bloomberg, Forbes, and Reuters consistently showed similar sentiments. We also discovered a significant two trading days’ delay in impacting S&P 500 trends where obvious agreements are found between the above outlets. An enhanced version of SentiStrength has been used where we injected finance-related lexicons underpinned by our investor’s ontology to obtain a significantly improved and consistent performance.

Original languageEnglish
Title of host publicationAgents and Multi-Agent Systems
Subtitle of host publicationTechnologies and Applications 2022
PublisherSpringer
Pages87-97
Number of pages11
ISBN (Electronic)9789811933592
ISBN (Print)9789811933585
DOIs
Publication statusPublished - 23 Aug 2022
Event16th KES International Conference on Agents and Multi-Agent Systems: Technologies and Applications 2022 - Rhodes, Greece
Duration: 20 Jun 202222 Jun 2022

Publication series

NameSmart Innovation, Systems and Technologies
Volume306
ISSN (Print)2190-3018
ISSN (Electronic)2190-3026

Conference

Conference16th KES International Conference on Agents and Multi-Agent Systems: Technologies and Applications 2022
Abbreviated titleKES-AMSTA 2022
Country/TerritoryGreece
CityRhodes
Period20/06/2222/06/22

Keywords

  • Emotive words
  • Lexicon-based analysis
  • Sentiment analysis
  • SentiStrength
  • Stock market price movements
  • Tweets

ASJC Scopus subject areas

  • Decision Sciences(all)
  • Computer Science(all)

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