Last week at this time we were scratching our heads about how a market can elevate in the face of such tragedy. Arthur Laffer probably put it best when he said on the surface money/markets have little to do with morality. But eventually, morality will catch up to the markets. Markets had a similar sentiment when it came to the hurricanes. Initially, markets were resilient when the hurricanes hit.
Following a mostly higher close in Asia and mostly positive tone in Europe, the U.S.-based futures are pointing to a higher open this morning. Global politics once again takes center stage as the relationship between Turkey and the US take a turn for the worse.