GTVERNH Women's shoes/Summer/Thick Bottom High Inside Women'S Shoes Breathable Mesh Sports Shoes Wild Hollowed... B07DCCDR4J Parent
GTVERNH Women's shoes/Summer/Breathable Gauze Sports Shoes Thick Bottom High Inside 10Cm Super High Heels Net... B07DCCCY2Y Parent , GTVERNH Women's shoes/Summer/Spring And Hollowed Out Muffin Shoes 12Cm Super High Heels Wild Thick Bottom Increased... B07DCCF5GB Parent , GTVERNH Women's shoes/Summer/Spring Sports Shoes Flat Bottomed Tourism Running Shoes Leisure Student Shoes Women. B07DCCDYTJ ParentGTVERNH Women's shoes/Summer/In The Spring And Autumn Season Casual Wild 12Cm Super High Heels Women'S Shoes Sneakers... B07DCCFHKJ Parent
GTVERNH Women's shoes/Summer/In The Spring 7Cm High Heels Wild High Inside Women'S Shoes Thick Bottom Leather... B07DCCF5GG Parent , GTVERNH Women's shoes/Summer/Thick-Bottomed Height-Increased Sports Shoes 10Cm High-Heeled Shoes Mesh Shoes Breathable... B07DCCGNS7 Parent , GTVERNH Women's shoes/Summer/Sneakers Women Tennis Shoes Breathable B07DCCFR46 Parent
GTVERNH Women's shoes/Summer/Leisure Sports Shoes Women Thick Bottom Hundred Free B07DCCGSMG Parent , GTVERNH Women's shoes/Summer/In Spring 12Cm Super High Heels Sports Muffin Bottom Women'S Shoes Leather Casual... B07DCCGQWQ ParentGTVERNH Women's shoes/Summer/Flat Bottom Soft Bottom Middle Age Mom Cool Slippers Spell Colors Drag Toe Anti Slip. B07DCCH882 Parent
GTVERNH Women's shoes/Summer/Sports Shoes Platform Breathable Student Mesh Shoe Single Shoes Running Shoes B07DCCH87V Parent , GTVERNH Women's shoes/Summer/Jogging Sports Shoes Women Students Leather Running Leisure B07DCCJ8YM ParentGTVERNH Women's shoes/Summer/Breathable Net Shoes Flat Bottom Gauze Tourism Women'S Shoes Joking Leisure B07DCCJKKX ParentGTVERNH Women's shoes/Summer/Exposed Toes Cool Slippers Thick Bottom Slope Heel Female Drag Bow Tie Word Drag... B07DCCJHBD Parent
GTVERNH Women's shoes/Summer/In 10Cm High Heels Net Shoes Thick Bottomed Sports Shoes Breathable Gauze Leisure... B07DCCJZK9 Parent , GTVERNH Women's shoes/Summer/Spring 12Cm Super High Heel Muffin Women'S Shoes Leather Increased Sports Casual... B07DCCJZK8 Parent , GTVERNH Women's shoes/Summer/Thick Bottom High Inside Movement Hollowing Breathable 8Cm High Heel Tourism Cave... B07DCCJZKF Parent , GTVERNH Women's shoes/Summer/Thick Bottom High Inside Women Sports Shoes Spring Net Shoes Travel 12Cm High Heels... B07DCCJZKD Parent , GTVERNH Women's shoes/Summer/Sandals Princess Shoes Flat Bottom Student Beach Shoes B07DCCK3VJ Parent , GTVERNH Women's shoes/Summer/Spring Thick Bottom High Inside Sports Shoes 10Cm Super High Heels Wild Women'S Shoes... B07DCCK3P6 Parent , GTVERNH Women's shoes/Summer/Spring And Autumn Low Sports Shoes Thick Bottom Women'S Shoes Frenulum Students Board... B07DCCK3VN Parent
GTVERNH Women's shoes/Summer/Spring Sports Shoes Flat Bottomed Travel Jogging Student Girl Leisure Running Shoes B07DCCK3VM Parent , GTVERNH Women's shoes/Summer/Breathable Pedal Sports Shoes Net Gauze Women'S Shoes Inside Heighten Hollowed Out... B07DCCKZBN Parent , GTVERNH Women's shoes/Summer/10Cm High Heel Platform Casual Shoes Internal Height Pedal Sports Shoes B07DCCKZBK Parent , GTVERNH Women's shoes/Summer/In The Spring 11Cm Super High Heels Sneakers Thick Bottomed Shoes High Inside Travel... B07DCCLRF2 ParentGTVERNH Women's shoes/Summer/Sports Shoes Low-Cut Breathable Casual Flat Bottom Running Shoes Student Shoes B07DCCKZBR ParentGTVERNH Women's shoes/Summer/In The Spring And Autumn Period Low Class Sports Shoes Jogging Flat Bottomed Single... B07DCCM4Z4 ParentGTVERNH Women's shoes/Summer/Summer Money Thick Bottom High Inside Sandals 12Cm Super High Heels Hollowed Out... B07DCCM4YT 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.