A touch lower. Things looked a little “concerning” early this morning with the KBW NASDAQ fintech index getting some selling and creating some nervousness. But, things settled down and the KFTX lost only 1.76 points (-0.16%) to close at 1099.62. Oh hum!
Breadth today had 20 stocks higher and 30 stocks lower. And while we’re at it, let’s take a quick look at the stocks that moved 2 points and/or 3% today.
ADS +5.83 (228.18)
FICO -2.05 (123.46)
Well that was pretty simple. Only two got out of bed today.
Next up? The Fed has a meeting beginning tomorrow which wraps up Wednesday to discuss interest rates. No change is expected and probably no statements either. Friday brings the employment numbers (1st Friday of the month) so the fintech market will most likely spend the next few days in sleep mode. Bring the pajamas, slippers and a pillow.
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By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group