On the night of Nov. 9, the S&P 500 E-mini futures were halted after dropping 5% on the news that Trump had won the election. Gold was up 4.3% and the Nikkei was down 5.3%. Markets are more comfortable with the status quo and Hillary Clinton representative it in this election. The panic subsided and SPY actually closed up 0.54 from the previous day’s close.
The recent bombing of a Syrian air facility by the United States sent a little jolt into the crude oil market. While Syria is not a big oil producer, it is in the same neighborhood of the largest concentration of oil production in the world. At the onset of the Gulf War in the summer of 1990 the WTI January futures contract rose from $18.40 (July 9) to $38.10