By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/3/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
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Still slipping. Not a big slip, but a slip nonetheless The KFTX is in a slow but deepening decline which continued today with the index closing at 989.62, off 1.10 points (-0.11%). Maybe it’s the pending election or something else (lots to choose from) but down is down and fintech is certainly down.
Since there are 49 stocks in the KFTX let’s find which ones, and how many, moved 2 or more points today and +/- 3%.
ACIW off .91 to 17.21 (-5.02%)
FLT down 3.26 at 148.76 (-2.14%)
ICE up 4.25 to 269.47 (+1.60%)
LC up .28 to 5.09 (+5.82%)
SPGI jumped 3.04 to 122.50 (+2.54%)
Pretty short list with 22 up issues and 27 issues down. Certainly reflects in the small point move down in the overall index and the ‘blah’ feeling.
So here we go into Friday and since it is the first Friday of the month we get NFP numbers (175K est. vs. 156 prior) at 8:30 EST. After that, waiting for the election. Close your ears and be prepared for something nobody has a clear answer for. Oh yeah, CONGRATS to the Cubs and don’t forget to turn your clock back. Daylight savings ends Sunday morning.