1TO9 Womens Hollow Out Spikes Stilettos Pointed-Toe ±ÕºÏ·½Ê½ Leather Heeled Sandals MJS03528 B07G5DFLFM ParentLIANGXIE Women's Sandals Open Toe Platforms Zip Transparent High Heels Girls Rhinestone High Heels B07G2T8NGS Parent1TO9 Womens Hollow Out Spikes Stilettos Metal Buckles Down Sandals MJS03527 B07G58YWLX ParentMaguidern Mules for Women, Ruffle Trimmed Slides Backless Flat Sandals Slip On Loafer Slides Black Suede Size 5M B07G6SC78S Parent
Women Summer Boho Sweet Flower Beads Flip Flops Wedge Sandals Sandals B07G72TCG9 Parent , WFL Summer lizard pattern elegant wood grain bottom thick with ladies Roman sandals female B07G624HHJ Parent , WFL Wedge sandals female summer sponge cake with national wind student waterproof platform thick high heel Rome B07G5SHCJ2 Parent , GZZ Women's casual woven slippers, comfortable beach sandals, summer soft bottom slippers B07G5N4PHY Parent , Jails Women's a93fb5b90a35 Fashion Sandals B07G6R5ZDV ParentLIANGXIE Women's Summer Party High Heels Satin High Heel Waterproof Square Head Sequin Hollow 1 Word Sandals Women's... B07G2QVYQ8 ParentWomen's Sandals Bohemian Beaded Rhinestone Flat Sandals B07G733YVT ParentMaguidern Mules for Women, Ruffle Trimmed Slides Backless Flat Sandals Slip On Loafer Slides Black Suede Size 8M B07G6PCT9X Parent
Women's Flat Sandals Summer Clip Toe Slippers Thong Roman Beach Shoes B07G744LVV Parent , Lovely Rabbit women's high heel sandal Womens Open Toe Ankle Strap Zipper Back High Heel Sandals for all occasion... B07G7416JZ Parent
Lovely Rabbit women's high heel sandal Lady Gold Colour Ankle Zipper Back High Heel Fine Heel Banquet And Party... B07G748JZR Parent , Summer Leather-Lined Wedge Peep Toe Strap Non-Slip Pink Sandals B07G74G3XQ Parent , Lovely Rabbit women's high heel sandal Women's High Block Heels Stiletto Heel Sandals Prom And Party Sandals for... B07G74GJ9D Parent
Womens Party Low Mid Heel Fashion Block Heel Ankle Strap Ladies Open Toe Party Prom Sandals Pumps B07G79BB1B Parent , Lovely Rabbit women's high heel sandal Women's Ankle Strap Stiletto High Heel Dress Classy And Sexy Sandals(red... B07G754RDT Parent
BalaMasa Womens Slides-Sandals Quilted Fringe Urethane Slides Sandals ASL05604 B07G7CMRS1 Parent , Gentleman/Lady XTI 48293 Black B07G79R8R9 Parent Comfortable feeling First grade in its class Fashion dynamic , BalaMasa Womens Solid Bows Pleated Urethane Slides Sandals ASL05606 B07G7F72VD Parent , Gentleman/Lady XTI 48293 Brown B07G79Z4ML Parent Quality products Quality First Seasonal hot sale , BalaMasa Womens Solid Ruched Business Urethane Sandals ASL05607 B07G7FFVDK ParentBalaMasa Womens Slides-Sandals Solid Travel Urethane Slides Sandals ASL05605 B07G7F4PH4 Parent
Stonefly 110495 Sandals Women Grey 41 B07G7G2RBF Parent , BalaMasa Womens Ruched Solid Travel Urethane Sandals ASL05608 B07G7F7HYC Parent
Stonefly 110496 High Heeled Sandals Women White 41 B07G7GKY5Q Parent , Stonefly 110495 Sandals Women Grey 37 B07G7G8YSS 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.