QPSSP Stripes, High Heels, Fashion Sandals, Ladies' Sandals, Women'S Shoes B07FQKZNHH Parent , QPSSP Low Profile Fashion Rivets, Pointed Shoes, Slender Shoes With High Heels, Sandals, Sandals, Ladies' Shoes. B07FQM645F Parent , QPSSP High Heeled Shoes With Fine Leather Suede, Hollow Sandals, Ladies' Shoes B07FQN4B7X Parent , QPSSP European And American Pointy High Heels, Sandals, Sequins, Flowers, Slate, Shoes, Shoes, Etc. B07FQFDRNK Parent
QPSSP A Pair Of Fashionable Shoes With A Pair Of Shoes. B07FQQTZVP Parent , NVXIE Womens Slingback Sandals Comfort Casual Flat Summer Slippers Open Toe Girl Beach Shoes B07FRFXTM8 ParentQPSSP Hollow High Heel Sandals, Pointed Head, Single Buckles, Single Shoes, Thin Leather And Patent Leather, Baotou... B07FQTTTQT Parent
ZHRUI Sandals Court Shoe A1564 Woman Pointed Shallow mouth rivet Fine with high heels Hollow Single shoes Heel... B07FRJ1GF1 Parent , NVXIE Women's Flat Sandals Strappy Summer Bohemia Ankle Strap Flip-flop Open Toe Girl Roman Beach Shoes B07FRGWTCT Parent , NVXIE Women's Girl Slingback Flat Open Toe Sandals Beach Summer Sandals Flip-flop Shoes Size 35-42 B07FRN793M ParentNVXIE Women's Summer Rhinestone Bead Bohemia Round Open Toe Sandals Boho Beach Girl Flat Sandals Shoes B07FRQ3WXK ParentGLTER Women Pointed Sandals Spring Autumn New Glamorous Super High Crystal Heel Pump Size 33-48 Single Shoes B07FRZMVH3 Parent
ZHRUI Court Shoe J-773 women spring summer rhinestone sandals high Heels banquet wedding leisure business 7.5cm... B07FRSF99F Parent , SBL Summer fashion leather rhinestone flat bottom low heel soft bottom buckle word sandals women's shoes,Black,35 B07FS3L428 Parent , SBL Women's shoes summer one-piece fine belt suede beaded sandals metal beach flat slippers,Black,40 B07FS3LGLV Parent , SBL Summer fashion leather rhinestone flat bottom low heel soft bottom buckle word sandals women's shoes,Buff,37 B07FS3Q4W2 Parent , SBL Summer fashion ladies sandals flat shoes soft bottom buckle word sandals,Black,38 B07FS3Y3HV Parent
SBL Summer fashion ladies sandals flat shoes soft bottom buckle word sandals,Black,40 B07FS3YCF2 Parent , NVXIE Womens Open Toe Flat Sandals Comfort Casual Slingback Summer Ankle Strap Girl Metal Chain Beach Shoes B07FS5M191 Parent , NVXIE Women's Bohemia Roman Beach Sandals Round Peep Toe Ankle Strap Summer Flip Flops School Flat Shoes B07FS5ZLBZ Parent , ZHRUI Court Shoe A198 woman Spring and summer PU Bowknot sandals High heels banquet wedding Casual 8cm heel 5... B07FS67K7Z ParentNVXIE Women's Ladies Leather Ankle Strap Sandals Black Open Toe Comfort Flat Shoes Size 35-45 B07FS67V5R ParentZHRUI Court Shoe High Heels WXA881 Woman sandals 9cm fine heel banquet wedding Leisure Business 2 colours B07FS67VF3 Parent
ZHRUI Sandals Court Shoe YJL1816 Female PU damping waterproof banquet wedding heels high heel 6.5cm 5 color B07FS67VFH Parent , ZHRUI Sandals Court Shoe A1564 woman summer Pointed Fine with high heels Hollow Single shoes Heel height 9cm Black... B07FS6N51M ParentZHRUI Court Shoe A1023 woman Spring and summer Rhinestone sandals High heels banquet wedding Casual Heel 10cm... B07FS6N51K ParentSBL Summer fashion leather rhinestone flat bottom low heel soft bottom buckle word sandals women's shoes,Buff,40 B07FS8ZC2B ParentNVXIE Womens Sandals Flat Strappy Summer Bohemia Roman Beach Shoes Ankle Strap Open Toe Girl B07FS74NPP ParentNVXIE Womens Sandals Flat Strappy Summer Bohemia Roman Beach Shoes Ankle Strap Flip-flop Open Toe Girl B07FS7D1Y8 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.