Tiny move up. Almost a repeat of yesterday with a scary morning selloff, recovery (at least for fintech) and today a tiny gain. It all adds up to……ho hum. The KFTX inched up .92 points (+0.08%) to settle at 1100.78. The fintech index has the two day blahs.
The advance/decline was just about the same as yesterday as well with 18 stocks up, 31 down and 1 unchanged. Super dull. But, there are some stocks that had a 2 point and/or 3% move today and here they are:
BOFI +1.14 (29.50) +4.02%
MA -2.97 (106.33)
MKTX +5.91 (187.25) +3.26%
NDAQ +2.36 (70.54) +3.46%
Hmmmmmm, four stocks today. Two more than yesterday.
Tomorrow the FOMC meeting ends and there is NO expectation of any interest rate hike. No after press conference either so probably a snooze. Unless they surprise and DO hike, then all h*** breaks loose. NFP on Friday (175K est vs 156 prior) so looks like the rest of the week is gonna be like the last two days; dull with perhaps some scary volatility. No big deal……yet. Stay calm but kind of look for some short thoughts. Have a nice night.
By Bill Taylor-CEO, Fintegration/FintekNews & CIO, TLC Capital Group