By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/23/16 Daily Closing Analysis & Week End Review - NASDAQ Fintech Index (KFTX)
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Giving it back. Friday gave back Thursday……..exactly (oh, within .01). The NASDAQ KFTX closed at 1045.92, off -6.72 or -0.64%. Is that efficient (or spooky) or what?! Anyway, last day of the week was a downer.
Only two of the index’s forty nine stocks had an intraday move of +/- 3% today and, ironically, they were both up. They didn’t keep all the gain but still held onto a gain. LC 6.28, +.17 (+2.78%) and PAY 16.30, +.33 (+2.07%). And, just like yesterday only two issues could muster a two point move by the close; ICE closed at 276.11 down -4.61 and MKTX 170.75 off -2.09.
Still, an up week with the index rising 12.34 points (+1.2%) to close at 1045.92. Let’s take a look at the stocks with some big (+/-3%) percentage moves on the week;
ACIW +4.30% (18.94)
CATM +3.07% (43.65)
CME -3.19% (106.49)
EEFT +3.30% (80.97)
ENV +5.72% (38.98)
FDC -4.64% (13.15)
LC -5.11% (6.28)
RATE +9.49% (8.31)
SQ +4.78% (11.83)
VIRT -5.09% (16.09)
Another week in the books with some upward bias across the board. Next week? Well, end of the third quarter comes up Friday so there may be “window dressing” (institutional talk for manipulation…..can’t resist) AND, here in the US we have the first presidential debate (smackdown). Results could move markets. Have a great week.