By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
11/25/16 Daily Closing Analysis & Week End Review – NASDAQ Fintech Index (KFTX)
Tiny bit higher. An early market close on Friday did not stop the NASDAQ fintech index from closing at another all time high. The KFTX index closed at 1067.58, up 3.14 points (+0.29%). Very slow session with most investors/traders off for the Thanksgiving holidays. Hope all of yours was good.
For the week the KFTX ran up 16.62 points to close at a new all time high of 1067.58, a nice gain of +1.6%. Even though it was a short week, and actually quite dull, there were some stocks in the index that managed to move up or down at least 3% and (ta da) here they are:
ACIW +4.49% (19.35)
ADS +7.85% (234.69)
BOFI +7.22% (24.67)
EVTC +10.73% (17.55)
FIS +3.64% (78.76)
RATE +4.41% (10.65)
SPGI -3.14% (119.92)
SQ +4.13% (12.75)
SSNC -4.03% (31.69)
WU +3.53% (21.48)
All told there were 36 stocks up for the week, 12 down and 1 unchanged. Pretty solid breadth in the fintech index.
Well now that the turkey holiday has been put to rest, the early shoppers have malled (mall…..get it?) each other and college football is winding down, what’s next? First, it will be a full five day trading week with the end of November looming and December beginning, which means Friday (1st Friday of the month) will have US employment numbers. They will probably not mean much since the Fed is all but certain to raise rates at their meeting later this month. So, obviously the week will be busier with an upward bias BUT don’t be too surprised to see the Trump rally kind of run out of steam (my 2 cents). In any event, have a great week.