By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/21/16 Daily Closing Analysis - NASDAQ Fintech Index (KFTX)
Jump back up. Fed holds rates steady, market rallies and fintech goes up nicely. The NASDAQ KFTX index goes up 11.20 points to close at 1045.74, or +1.08%. Very strong sector.
Interestingly, only four stocks within the index could muster a +/- 3% intraday move. FDC declined -.16 to 13.30 losing -1.19% after being down over 3% early on. On the plus side, HAWK closed at 30.87, up +.45 (+1.48%) giving up earlier gains on news CLSA said “buy the dip” in the stock, RATE finished at 7.82 +.25 (+3.30%) and WEX closed at 107.11 +3.31 (+3.19%).
Big point movers (+/- 2.00) include FDS +2.30 (178.23), FISV +2.16 (101.50), FLT +3.22 (170.87), ICE +2.05 (282.26), SPGI +2.78 (127.56) and finally WEX +3.31 (107.11).
Now what? BOJ and Fed news is now old news so it’s a wait and see market. What are we waiting to see? Monday night’s debate I guess. Have a super evening.