Rongzhi Womens Platform High Heels Stilettos Slingback Heeled Sandals Prom Nightclub Heels Shoes Peep Toe B07D5ZBZ73 Parent , Fashion Block Heel Sandals Women Ankle Strap Buckle Chunky High Heel Open Toe Studded Heeled Sandals Dress Pumps... B07D3R463C ParentThick with Baotou Drag Fashion No Heel Wild Lazy Shoes Women B07D3QRDF8 ParentDANDANJIE Summer Shoes Women's Beach Sandals Metal Bohemian Rhinestone Flat Bottom Toe Ladies Casual Summer Holiday... B07D3SJGGZ ParentZFNYY Pointed Female Summer Wild Lazy No Heel Shoes Baotou Flat Slippers B07D3R1D6L ParentDANDANJIE Summer Shoes Women's Summer Beach Casual Soft Holiday Shoes Ladies Girls Lovely Shoes Cool Bohemian... B07D3SNGML ParentHeels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/A Large Number of Women Shoes Flat Glossy Summer... B07D8XFGML ParentSummer Sandals, fine with Rhinestones Fashion Wild Shoes high Heels B07D49WRK9 ParentRFF-Spring, summer and autumn shoes Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Water Drill... B07D8XHH69 Parent
Sandals, Woman Fashion Rhinestone Open Toed High Heels Ladies Transparent Stiletto Sandals Rome Shoes B07D5GHFDY Parent , DANDANJIE Summer Shoes Women's Beach Summer Girls Lovely Casual Holiday Shoes Ladies Cool Bohemian Soft Beaded... B07D3SKMNT ParentBuonarotti Shoe Salon Chunky Heel in Suede Type. Heel Height: 8 cm. B07D5JCJVL Parent
shoe Women's Sandals Fish Mouth Low-Heeled Shallow Mouth Hollow Large Size Single B07D7BMSQ2 Parent , Rongzhi Womens High Heels Plush Stilettos Pumps Ankle Strap Heeled Sandals Dress Party Shoes Peep Toe B07D7G9YRF Parent , Spylovebuy Shake IT up Women's Platform Block Heel Sandals Shoes B07D3TTQW2 Parent , MEIbax Girl Womens Summer Flat Shining Rhinestones Chain Sandals Boots T-Strap Shoes B07D8MMR1K Parentwetkiss mesh Mules Pointed Toe Real Leather Women Slippers Summer Shoes Sandals B07D4FKQVY ParentHeels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Women Shoes Flat-Bottomed Non-Slip Leisure... B07D8VM88S Parent
RFF-Spring, summer and autumn shoes Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/The Belt... B07D8WMTMR Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/European and American Modeling Straw with a... B07D8WXSGW Parent , QXH Women's Shoes Sandals Flat Round Head Middle Heel Zipper B07D8XFJTQ Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/The Korean Version of The Party Head, with... B07D8XZF3G Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Flat Base Students Wild Summer Women Shoes... B07D8XWPQ5 Parent , RFF-Spring, summer and autumn shoes Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/ The Word... B07D8Y3W84 Parent , Sandals Slippers Clip Toe Handmade Flower Beads Cork Sole Female Summer Fashion Flat Shoes B07D8Y37PC Parent
Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/A Large Number of Fields and Women's Shoes... B07D8Y3W8N Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Slotted Buckle Ankle Straps high-Heeled Sandals... B07D8Y3W8B Parent , RFF-Spring, summer and autumn shoes Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Sweet tip... B07D8Y4BJL Parent
Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/The Girl with a Flat Base Rome Students Korean... B07D8Y562X Parent ,
On the latest edition of Market Week in Review, Rob Cittadini, director, Americas institutional, and Chief Investment Strategist Erik Ristuben discussed the recent rise in oil prices amidst political unrest in Saudi Arabia.
Oil prices on the upswing as turmoil engulfs Saudi Arabia
The recent events in Saudi Arabia helped fuel a steep increase in oil prices across the globe the week of Nov. 6, Ristuben said—with the cost of U.S. West Texas Intermediate crude rising to nearly $57 a barrel, up from roughly $49 a month earlier. “Whenever there’s a potential change in tenure or political tone in a country, that creates volatility,“ he explained, adding that geopolitical risks very rarely have a lasting impact on markets.
That said, in Ristuben’s opinion much of the uptick in oil prices is better attributed to the health of the global economy. As evidence, he cited the upward adjustments to the estimated gross domestic product (GDP) growth rate in both Europe and the U.S. “This is further proof that the global economy is expanding,” he said—“leading people to begin pricing in a higher demand for oil.”
U.S. tax reform debate continues
Switching to the U.S., Ristuben noted that financial markets have been jittery in recent days as both houses of Congress continue to hammer out details of proposed tax cut legislation. “This serves as a stark reminder of just how hard it is to get anything done in the U.S. at the federal level, no matter which party is in control,” he said. Tax reform in particular is extremely difficult, Ristuben explained, because the economic makeup of the states or regions represented by members of Congress can vary wildly from one to the next. “This means that when you change the rules, there will be clear winners and losers,” he said.
Ultimately, Ristuben and the team of Russell Investments strategists believe that a tax reform package will get passed, likely in early 2018—but that it probably won’t be as ambitious in scope as what was originally laid out.
Global economy continues to shine—What could it mean for financial markets?
Transitioning to European economic news, Ristuben said that the continued surge in German industrial production was a high point for the week. The positive numbers are reflective of steady economic growth on a global scale, he said. “Overall, the latest data coming through has been consistently solid across the board—and markets have taken notice,” Ristuben stated.
He added that in his and other Russell Investments strategists’ viewpoint, this will likely translate into continued gains in the stock market—but that more volatility is also a possibility. “Negative pullbacks are common in equities—and we haven’t had one in a while,” Ristuben noted. “Don’t be surprised if one happens—and don’t be terrified either, because all things considered, I think the economy will continue to move forward.”
Watch the video or listen to the podcast. And subscribe.