CuteFlats Casual Sandals with Chunky Heel and Bohemia Ankle Straps for Fashion Women B07DLF3NDD Parent
CHICMARK Casual Sandals with Pointed Toe and Thin Heel Fashion Sandals with Large Size Available B07DLG9GP3 Parent , CHICMARK Casual Sandals with Open Toe and Cone Heel All Match Shoes B07DLH3VC6 Parent , CHICMARK Casual Sandals with Large Size and Simple Sandals for Fashion Women B07DLJ1VGF ParentCuteFlats Sandals with Open Toe and Chunky Heel Comfortable Sandals for All Fashion Women B07DLHX3G6 Parent
CHICMARK Casual Flat Sandals with Cute Pearls B07DLJ5HC7 Parent , CUTEHEELS Fashion Sandals with Chunky Heel and Pointed Toe with Large Size Available for OL B07DLJ5GT5 Parent , Rongzhi Womens Denim High Heels Stilettos Ankle Strap Pumps Heeled Sandals Dress Party Pointed Toe B07DLJ5WC9 Parent , CuteFlats Casual Sandals with Chunky Heel Simple Sandals for All Occassions B07DLJ5KMS Parent , CuteFlats Sandals with Faux Suede Materail and Chunky Heel Comfortable Sandals for All Fashion Women B07DLJFNQR Parent
CUTEHEELS Fashion Sandals with Open Toe and Chunky Heel Casual Sandals with Large Size B07DLJFKVR Parent , xiao123 in The Summer, Women wear a Water Drilling Anti-Slip Soft, Cool and Black Round Clip Fashion Simple Harajuku... B07DLL6W6S Parent , CHICMARK Fashion Wedge Sandals with Peep Toe and Suede Materail B07DLKP265 ParentSuetar-SKT Ladies Bohemian Ethnic Style Rhinestone Flowers Beach Sandals Summer Big Size Flat T-bar Sandals for... B07DN3H2VG Parentxiao123 in The Summer, Women wear a Water Drilling Anti-Slip Soft, Sponge Cake Thick Slotted Cool and Pink Fashion... B07DLL7PMB Parent
Melady Women Fashion Sandals Heels 12CM B07DN4T5ZK Parent , JIU Sandals Slippers High Heel Seaside Beach Slippers Woman Summer Outer Wear Fashion Sandals Non-slip Slope Thick... B07DN4XYP2 Parent , JOJONUNU Women Open Toe Dress Sandals B07DN795KT Parent
DecoStain Women's Fashionable Open Toe Alphabetic Printing Slingbacks Pull On High Chunky Heel Party Wedding Sandals B07DN85GNB Parent , Cocey Simple Sandals with Chunky Heel and Open Toe for Fashion Girl B07DN8JFFC ParentMo Joc Nubuck Sandals with High Heel and Thick Platform Fashion Sandals with Large Size Available B07DN8M29N Parent
DecoStain Women's Leisure Open Toe Pull On High Chunky Heel Daily Working Sandals B07DN8X756 Parent , AnMengXinLing Ankle Strap Heeled Sandals Women Block High Heel Peep Toe Leather Flower Wedding Party Dress Pumps... B07DN9QVSK Parent , CUTEHEELS Casual Sandals with Open Toe and Thin Heel All Match Shoes B07DN9ZPKN Parent
JOJONUNU Women Block Heel Dress Sandals B07DNB1SNW Parent , CUTEHEELS Sexy Sandals with Pointed Toe and Thin Heel Fashion Sandals with Large Size Available B07DNB8S2J Parent , Aisun Women's Sweet Bowknot Pointed Toe Mule Sandals B07DNBMSM5 Parent
CUTEHEELS Dressy Sandals with Pointed Toe and Thin Heel Fashion Sandals with Large Size Available B07DNBDQGP Parent , CUTEHEELS Casual Sandals with Large Size and Simple Sandals for Fashion Women B07DNC87CS 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.