By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/12/16 Daily Analysis - NASDAQ Fintech Index (KFTX)
What Friday? Last Friday was so last week. Here we go in to a new week with the NASDAQ KFTX going up 13.89 points to close at 1043.27 and a +1.35% gain.
With markets gaining back a good hunk of Friday’s (was there a Friday?) big decline, the volatility subsided and only two stocks out of the index’s forty nine issues had intraday moves of +/– 3%. Well really one and a half stocks since one was LC up a whopping .23 to 5.59 (+4.29%) and the other was ADS closing at 216.49 up 7.83 (+3.75%). No others could manage a 3% move.
A few stocks in the index had point moves of 2.00 or more:
ADS +7.83
ME +2.13
DNB +2.02
FDS +2.01
FICO +3.24
FLT +2.94
ICE +2.74
SPGI +2.02 &
WEX +2.86
Now what? Back to anxiety and interest rate debates (will, won’t, etc) but for sure, volatility is coming back.