Shymamamiya Fashion Rivets Fight Color Mesh Cloth Roman Shoes Thick Casual Belt Buckle Female Sandals (Color :... B07DZXLS3V Parent , HBDLH Spring And Summer Hollow Sandals Increased Women'S Shoes Board Shoes Breathable Single Shoes Sponge Cake... B07F2FBRHK Parent , yalanshop High-Heeled Shoes Are Cool In The Summer And Thick With Wild Tip Field Trip With The Header With The... B07F2H3GTL Parent , HBDLH Pointed Coarse Sandals Summer Baotou Hollow Women'S Shoes Simple Low Heel Shoes. B07F2FWL9B Parentyalanshop High-Heeled Shoes Are Cool In The Summer And Thick With Wild Tip Field Trip With The Students With The... B07F2K65VD Parent
YMFIE Ms. Summer Slope Sandals Cross strap Bow Bowed Toe Stripe Sandals B07F2H5PRL Parent , Flip Flop Shoes Female Summer Lightweight And Comfortable Fashion Sandals Female (Size : 6.0) B07F2LHJ2W Parent , Sandals Female Shoes Female Summer Lightweight And Comfortable Fashion (Size : 6.0) B07F2L9P5Q ParentDIDIDD High Heel Sandals Tip Fine with the Summer Western Headdress Clasp Hollow Shallow Mouth Rome Fashion Shoes B07F2MXYL8 ParentSports Slippers Female Summer Wear Fashion Shoes Sandals (Size : 5.0) B07F2M5Q1C ParentFlip Flop Shoes Female Summer Lightweight And Comfortable Fashion Sandals Female (Size : 4.5) B07F2YB6VN Parent
YMFIE Bohemian Comfort Non-Slip Flat Toe Sandals Women's Beach Shoes European Sizes: 34-43 B07F2R768X Parent , ZHANGJIA Sandals, Pearl Sandals, Women'S Waterproof Tables, Muffin Shoes, Women'S Toes And High Heels. B07F38T5HX Parent , JIANXIN Women's Shoes Elegant Pearl Decoration Black And Gray Slipper Sandals Summer Comfortable Flat Bottom Retro... B07F38LSZR ParentLFF.FF Women's Sandals Patent Leather Fine With Increase Word Band Overheight With Package With Dinner Shoes Nightclub... B07F811HX2 Parent
RBB Summer baotou pointed sandals female wild empty words buckle fine with high-heeled shoes B07F7ZRMFM Parent , RBB Pointed half sandals female summer sexy air fine with high-heeled single shoes word buckle with baotou sandals B07F82GF6S Parent , RBB High-heeled shoes Sandals with rivets Shoes Baotou Shallow mouth buckle Fashion shoes B07F823Q56 Parent , RBB Ms. sandals sexy wild pointed high-heeled shoes buckle with baotou shoes B07F84M6BW Parent
RBB Thick with a strap buckle high-heeled sandals female summer pointed toe shoes B07F837CB5 Parent , KPHY Summer Women'S Shoes/Europe And The United States Thick Bottom Slope And Sandals Women Quarter Season Waterproof... B07F86Q4BV Parent
RBB Sandals fine with Baotou wild with pointed sexy buckle elegant temperament high-heeled shoes B07F84M6C2 Parent , RBB Fine with Mesh Sandals High-heeled temperament OL Shoes Wild Pointed Shallow mouth Shoes B07F87T7KW ParentKPHY Summer Women'S Shoes/Baotou Rough Sandals Female Summer Sharp 7Cm High Heel Rear Empty Belt Buckle Joker... B07F87PJJ3 Parent
KPHY Summer Women'S Shoes/In Summer 10Cm High-Heeled Shoes Women'S Shoes Word Belt Waterproof Platform Suede Fish... B07F88KHV5 Parent , KPHY Summer Women'S Shoes/Summer Joking Women'S Slope Retro Waterproof Platform Hollowed Out One Word Buckle Comfortable... B07F87XBZN ParentKPHY Summer Women'S Shoes/Sexy 13Cm Super High Heel Thin And Shallow Shoes Waterproof Table A Word With Toes Fashion... B07F89R55C Parent
KPHY Summer Women'S Shoes/Summer Sandals And Sandals Waterproof Tables Comfortable And Thick Bottomed Cross Straps... B07F89BYM5 Parent , KPHY Summer Women'S Shoes/Summer Sexy Thick Sandals Thick Bottom Thin Buckle Waterproof Table Toes 13Cm High Heels. B07F8BPMJZ 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.