Kolnoo Womens BFCM Butterfly Barefoot Buckle Strap Summer Flats Sandals Shoes B07846W9V3 ParentL@YC 0608-23 Women'S High Heels Wedding Silk Close Up Outdoor/Clothing/Casual & Evening/Party B0784MGVKC Parent
1TO9 Womens High-Heel No-Closure Solid Pointed-Toe Urethane Pumps Shoes MMS05548 B0784NG4X2 Parent , 1TO9 Womens Beaded High-Heel No-Closure Solid Penny-Loafer Pleather Pumps Shoes MMS05522 B0784P38XC Parent
1TO9 Womens Low-Heel No-Closure Pointed-Toe Solid Suede Pumps Shoes MMS05504 B0784PBMPC Parent , L@YC E2046-16 Women's Flats Leggings Wedding Party & Wedding Night B0785DMP32 Parent , L@YC E0608-17 Women's High Heels PU Leather Wedding Spring Summer Autumn Winter Wedding & Evening B0785G591N Parent
Kolnoo Womens Handcrafted Straps Rhinstones Deco Fashion Summer Shoes Flats Sandals B0785LFML4 Parent , Kolnoo Womens BFCM Furball High Heel Slingback Buckle Strap Fashion Sandals B0785LNYK4 ParentVerocara Women's Special Mid Heel Square Toe Slingback Buckle Strap Patent Leather Pumps Court Shoes B0787GJ8NY ParentVerocara Women's Special Mid Heel Square Toe and Buckle Slingback Patent Leather Pumps Court Shoes B0788PKRRR Parent
Man/Woman Jenny Women's Low-Top B0788SLZB8 Parent Guarantee quality and quantity excellent various kinds , Verocara Women's Special Mid Block Heel Square Toe and Buckle Decoration Solid Patent Leather Court Shoes Pink... B078B8HH6H Parent
Sarahbridal Party Shoes With Bow Style Glitter Rhinestone For Girls Bridal Wedding Pointed Toe Satin Low Heels... B0789ZQBXB Parent , Man's/Woman's Susimoda 876891 Decolletè Women B078BRP64K Parent New Listing Stylish and fun Different goodsVerocara Women's Special High Block Heel Square Toe Solid Patent Leather Pumps Court Shoes Pink Patent 8 UK B078B7Y9MJ Parent
JIEEME Ladies Sexy Stiletto Genuine Leather Women Pumps Fashion Pointed Toe Black Women Court Shoes B078CY412T Parent , Kolnoo Womens Handcrafted Straps Sexy Summer Flats Sandals Simple Daily Shoes B078CQDZV5 Parent , Lotus Women's Elodie Synthetic Slingbacks B078F11TLR ParentL@YC Women Wedding High Heels # 0608-11 Pointed Large Size PU Artificial Leather Casual Party/Evening B078DN3Y6W ParentSarahbridal Women's Prom Party Evening Dress Wedding Bridal Shoes For Girls Size SZXF0255-09A B078F6VHS5 Parent
Verocara Women's Special Mid Heel Square Toe BiColor Slingback Buckle Strap Patent Leather Court Shoes B078F6NNVM Parent , AN A&N Womens Pumps-Shoes Closed-Toe Zip Low-Heel Warm Lining Not_Water_Resistant Suede Firm-Ground Bootie Suede... B078G73BNF Parent
Verocara Women's Special High Block Heel Square Toe Solid Patent Leather Pumps Court Shoes B078FXX1NG Parent , Tamaris Women’s 22447 Closed-Toe Pumps B078GQVFTQ Parent , AN A&N Womens Pumps-Shoes Closed-Toe No-Closure Solid Warm Lining Rubber Manmade Bootie Hard-Ground Suede Suede... B078G8HSDH Parent , JIEEME Ladies Sweet Block Heels Rivets Genuine Leather Square Toe Blue Silver Mid Heels Casual Women Court B078MPQV64 Parent , Sarahbridal Girls Dresses Satin Peep Toe Bridal Pumps Heels Wedding Shoes Straps With Glitter Rhinestone Size... B078GR7JNZ Parent
Sarahbridal Women Pointed Toe Party Shoes Bridal Wedding Flats Shoes Size SZXF2046-07A B078GRLJ4V 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.