Sleepy and slow. Yeah that’s today, BUT markets zoomed back up today too. Its like the Navy’s precision flying team–the Blue Angels–which is fun to watch and wonder how they do all that. Steep dives, fly straight and fast, rocket upward on a blink, do a roll, zoom down looking like a crash and pull out at the last minute. And that’s just the S&P 500. Wheeeee!
All the major indexes rallied today with the Nasdaq composite hitting an all time high. Even oil in the commodities space jumped up. What gives? End of 1st quarter (tomorrow) window dressing? Or, more likely, no sellers on a very slow and quiet day. Markets opened up, stayed up and naps broke out all over. Going to the air show is more fun (and cheaper).
So did the fintech sector keep pace? Well yeah, sorta. The KFTX moved up 7.04 points (+0.62%) to close at 1134.97. Not too far from its all time high, but not there either. But I digress, lets look at which fintech stocks in the fintech index moved 2 points and/or 3% today.
ADS +3.55 (248.88)
DNB +2.12 (105.83)
FLT -4.40 (148.10)
TREE +2.05 (125.75)
Only 4 out of the 50 stocks in the KFTX managed to climb and dive today. Advance/decline very strong with 41 up and 9 down. Just as sleepy in fintech as all the others sectors. Yawn.
Last day of the 1st quarter tomorrow (Friday) and looks like another good day to nap. Bring your pillow and blanket.