By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group
9/1/16 Analysis – NASDAQ Fintech Index (KFTX)
BORING!! Boring overall market but fintech remains the sector to be in. Not missing a beat the NASDAQ fintech index jumped to new all time highs with a strong finish at 1050.45 up +3.80 points and +0.36%. Rock on KFTX.
There was some very nice activity within the forty nine stock in the index today as well. While only two stocks had a +/– 3% move intraday, several others had some nice point moves. BOFI was up over 3% at one time but finished up just +0.15 (+0.70%). WEX jumped +3.71 (+3.74%) having sort of a delayed reaction to Zacks research strong buy recommendation a few days ago.
Other strong point movers that didn’t quite get to FintekNew’s +/- 3% threshold include ADS up +5.61, FDS up + 2.10, FICO up +2.01, FLT up +3.47 and ICE up +2.33.
First Friday of the month tomorrow brings NFP numbers and then chatter about what the Fed might do. Or, not do. Volatile or snooze. Three day weekend coming up and the official end of summer. Enjoy.