HBDLH Women's shoes/Red Wedding Shoes Bride Shoes Waterproof Tables Night Shoes Women'S Shoes And 11Cm Heels. B07G17FWXD Parent , LIANGXIE High-heeled Platform Shoes High-heeled High Heels, Nightclub Sexy High-heeled Shoes Ladies, Wedding Bridal... B07G2R1ZXQ ParentCITW Women's Shoes Suede Super High Heel Waterproof Platform Stiletto Single Shoes Large Size Women's Shoes Low... B07G31MRRD Parent
KUKI Women's High Heels Large Size Women's Shoes Waterproof Platform Thick With Pointed Super High Heel Shoes... B07G37WX5Q Parent , CITW Women's High Heels Large Size Women's Shoes Waterproof Platform Thick With Pointed Super High Heel Shoes... B07G31Y3R4 Parent , CITW Women's High-Heeled Pointed Shoes Women's Patent Leather Waterproof Platform Large Size Foreign Trade Women's... B07G33N4X3 ParentKUKI Women's Shoes Suede Super High Heel Waterproof Platform Stiletto Single Shoes Large Size Women's Shoes Low... B07G3789J2 ParentFlower-Ager 1195-01G Women Closed Toe Mid Heels Slip On Satin Wedding Party Court Shoes Pumps B07G5TNLZN Parent
KUKI Women's High-Heeled Pointed Shoes Women's Patent Leather Waterproof Platform Large Size Foreign Trade Women's... B07G3165KW Parent , GTVERNH Women's shoes/fashion/Fine With 11Cm Super High Heel Silks Shallow Pointed Thin Sexy Hollowed Out Women'S... B07G5ZPJHK Parent
Cirior Women's High Heels Women's Shoes Faux Leather Stiletto Heels Platform Pumps High Heels Dress Rose Gold B07G672RFV Parent , Cirior Womens High Heels Ladies Shoes Faux Leather Block Heel Pointed Court Shoes High Heels Dress B07G676G2K Parent
GTVERNH Women's shoes/fashion/Fashion 12Cm Super High Heels Hack Slim Shoes Spliced Student Shoes Spring Thick... B07G62934N Parent , Cirior Women's High Heels Women's Shoes Plastic Kitten HeelHeel Plateau Closed Toe Pumps High Heels OutddorCasual B07G67JCDV Parent , Cirior Women's High Heels Women's Shoes Faux Leather Stiletto Heels Toe Free Platform Pumps High Heels Dress B07G6777WP Parent , Cirior Women's High Heels Shoes Faux Leather Block Heel Closed Toe Pumps High Heels Dress B07G68GF43 ParentCirior Womens High Heels Ladies Shoes Faux Leather Low Heel Absätzeplateauspitzschuhges Enclosed Toe High Heels... B07G68GXX8 ParentCirior Womens High Heels Ladies Shoes Faux Leather Stiletto Heel Heels Pointed Court Shoes High Heels Dress B07G67K3RF Parent
GTVERNH Women's shoes/fashion/Autumn Pointed Shoes 10Cm High Heel Shoes Woven Coloring Fashion Women'S Shoes Joker. B07G67KMB7 Parent , Cirior Women's High Heels Women's Shoes Faux Leather Stiletto Heels Toe Free Pumps High Heels Casual B07G68RQ9H Parent , Cirior Women's Lady's High Heels Shoes Stiletto Heel Plastic Heels Platform Round Toe High Heels wedding dress... B07G67SBBT ParentCirior Womens High Heels Ladies Shoes White Faux Leather Wedge Wedgeszehenfrei Platform Pumps High Heel Dress... B07G67QJK3 Parent
Cirior Women's High Heels Women's Shoes Faux Leather Stiletto Heel Plateau Closed Toe Pumps High Heels Casual B07G68VZGN Parent , Cirior Women's Lady's High Heels Shoes Faux Suede Block Heel Heels Pointed Court Shoes High Heels B07G68QRMN Parent , Cirior Women's High Heels Women's Shoes Faux Leather Stiletto Heel Pumps High Heels Casual B07G68XPBD Parent , Cirior Women's High Heels Women's Shoes Fleece High Heel Heel Pumps High Heels Dress B07G68WMCQ Parent , YMFIE European fashion stiletto pointed shallow mouth ladies high heels single shoes party shoes B07G75YH1X Parent , European And American Fashion Banquet Shoes High-heeled Shoes High-heeled Suede Shallow Mouth Pointed Round Diamond... B07G916DGW Parent , Korean Version Of The Simple Shoes With High-heeled Hollow Shallow Pointed Pointed Suede Sexy Nightclub High With... B07G91V9WQ 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.