What a terrible start to the New Year. The Dow Jones Industrial Average was down 6.2% for the first
week of 2016. That is the largest first week drop since 24 stockbrokers signed an agreement creating the New
York Stock Exchange in May, 1792 at 68 Wall Street underneath a buttonwood tree.
Hut 1, Hut 2, Hut 3
HIKE! The Fed has just raised rates for the first time in almost a decade. The November jobs report showed the private sector adding 211,000 new jobs. Once again, not great, but good. October’s jobs report was increased to 298,000, the highest of the year. Still no inflation and no significant wage growth.