Ajvani Womens Ladies Platform mid Heel Wedge Work Smart peep Toe Shoes Sandals Size B01EWX8KCU Parent , Ladies Faux Leather Mid Wedge Raffia Snake PU Fashion Sling Back Peep Toe Summer Sandals Shoes Size 3-8 B074PV421H Parent , New Womens Ankle Strap Pumps Ladies High Block Heel Buckle Shoes Size UK 3-8 B079S3YRQT Parent , KIDS CHILDRENS GIRLS WEDDING PARTY DIAMANTE BOW LOW MID HEEL SHOES SANDALS SIZE B01HQ2H2E6 ParentCORE COLLECTION Womens Ladies Wedding Bridal Diamante Evening Bridesmaid Low Heel Shoes Size 3-8 B00Z3HXPQG Parent
RETRO JELLY SANDALS LADIES WOMENS FLAT GIRLS SUMMER BEACH FLIP FLOPS SHOES SIZE B01CSLEMYI Parent , Lolittas Summer Wedge Sandals Women Size 2-7,Black Gladiator Wedding High Block Heel Platform Wide Fit Peep Toe... B07GTL6TTK Parent , SHU CRAZY Womens Ladies Slingback Espadrille High Wedge Heel Peeptoe Summer Sandals Shoes - E39 B072KSGL8S Parent
WOMENS LADIES SUMMER SANDALS STRAPPY FLOWER LOW HEEL FLAT WEDGE SHOES SIZE B00IURBHI4 Parent , Lolittas Wedge Sandals for Women Ladies, Black Summer Walking Leather High Heel Platform Wide Fit Peep Toe Slingback... B07F9VV132 Parent , Bringbring Women's Round Toe Ankle Flat Suede Casual Shoes B07GXVFPHJ Parent , Women's Sandals OverDose Ladies Ankle High Heels Open Toe Shoes B07BRJZ5TB Parent , Lolittas Leather Gladiator Sandals for Women,Black Embellished Flat Wide Fit Ankle Strap Peep Toe Slingback Cushioned... B07D7YN9XP Parent
LADIES WOMENS PEEP TOE WEDGES LOW MID HIGH HEEL FLATFORMS PLATFORM SUMMER ANKLE STRAP STRAPPY SHOES SIZE B00DZMYCZE Parent , WOMENS WEDDING BRIDAL LADIES PROM SHOES LOW HEEL BRIDESMAID EVENING SANDALS SIZE B00SHKJ0UQ Parent , Viva Womens Diamante Mid Heel Ankle Strap Wedding Party Metallic Sandals Shoes B0778Q5PD1 Parent
Lolittas Sandals Women Ladies Summer Boho Beach Flat Sandals Size 2-9,Comfortable Soft Flatform Closed Toe Slingback... B07DTCKJL2 Parent , Tribangke Women's Casual Slip-On Sandals Loafer Flats Summer Shoes B06XDJ9PQ2 Parent , Ladies Ella Glitter Slingback Flat Menorcan Open Toe Spanish Sandals Beach Summer Sandals Shoes Size 3-8 B07CGGGP75 Parent
AgeeMi Shoes Women's Open Toe Ankle Strap Low Wedge Heel Sandals With Buckle B0719GVSY2 Parent , Divine Ladies Glitter Sparkle Block Heel Evening Sandals Shoes B077P6C21F Parent
VEMOW Women Ladies Girls Fashion Sneakers Sports Running Hiking Thick Bottom Platform Shoes Home Sandals Thick-Bottomed... B07CTQ6TQ8 Parent , AgeeMi Shoes Women Peep Open Toe Ankle Strap Stiletto Heels Sandals Buckle Shoe Wedding Women Sandals Sandals... B0716WL2ZL ParentLadies Chix 287481 Faux Leather Metallic PU Peep Toe T Bar Flower Stud Sling Back Flat Summer Sandals Shoes Size... B072J4MK5Y Parent
LADIES GEZER , SLIP ON PEEP TOE MULE LIGHTWEIGHT SOFT COMFY MULE SANDALS B06Y1SSTZR Parent , youmang Shower Slippers, Indoor Bathroom Slippers, Bath Slippers, Indoor House Slippers, Anti Slip Sandal, Summer... B07C7VQJRD ParentViva Womens Low Kitten Heel Ankle Strap Suede Office Work Evening Sandal Shoes B0786R1LDP ParentWomens Espadrille Sandals Summer Strappy Platform Flat Peep Toe Roman Wedges Beach Open Toe Comfy Gladiator Ladies... B07CTMZFWK ParentNew Look Women’s Simble 2 5682589 Ankle Strap Heels B07D5RS379 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.