FintekNews-KFTX Fintech Index-11/4 Daily & Week End Closing Analysis

By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group

11/6/16 Daily Closing Analysis & Week End Review – NASDAQ Fintech Index (KFTX)


Weekend firming. A little lift, a little firmness and presto……..a Friday pre-weekend uptick. The NASDAQ KFTX fintech index stuck its spinning head up by 3.75 points to close at 993.42, a gain of +0.38%. Not to jump up and down for joy, it was still a bummer of a down week (see below).

With Friday being a lackluster day it would be expected that only 4 of the index’s 49 issues would have any kind of movement. Actually surprised there were any. But, here are the 4 that moved by 2 points or 3% today:

FDC off .47 to 13.23  (-3.43%)

MKTX up 2.67 at 150.47 (+1.81%)

RATE up 1.20 at 8.40 (+16.67%)   Nice percentage jump on earnings beat, raising guidance

VIRT  rose .60 to 13.15 (+4.78%)

To sum up Friday, fintech investors just evened out some positions before the weekend (blah) with the only ‘movers’ having some news attributed to them.

So, for the week, the KFTX lost 14.39 points settling at 993.42, a loss of -1.4%. With that weekly decline, let’s check the stocks in the fintech index that had a move of 3% or more for the week:

ACIW  -8.59%  (17.01)

CATM  -3.35%  (47.36)

DNB  -6.79%  (116.20)

ENV  -3.01%  (33.80)

EVTC  -5.20%  (14.35)

FDC  -5.90%  (13.23)

FICO  -5.70%  (113.62)

FLT  -13.88%  (150.05)

GPN  -3.04%  (70.81)

HAWK  -5.14%  (33.10)

INFO  -3.74%  (35.53)

LC  +5.47%  (5.13)     Pesky little thing jumps around % wise

MA  -3.53%  (103.03)

MCO  -3.77%  (97.61)

RATE  +0.46%  (8.40)

SQ  +9.25%  (12.18)

TRI  +3.39%  (40.89)

WEX  -8.73%  (102.03)

So, what does the week ahead hold? Well………..ELECTION on Tuesday will certainly be the big event and market mover. Or should I say the election’s RESULTS will be the big thing. After that? Well anybody that says they know really doesn’t know (just looking for attention) and the same for market direction. The most expected? Chaos and volatility. Have a super week.