WXMDDN Autumn Female Shoes British Wind Flat Bottom Shoes Retro Tassel Shoes Women's Singles Shoes, Brown, 36 B07BZ99JT4 ParentAutumn Female Shoes British Wind Flat Bottom Shoes Retro Tassel Shoes Women's Singles Shoes, Black, 38 B07BZLHF1B ParentWXMDDN Spring Women's Shoes Pearl Patent Leather Casual Shoes B07BZLTC7B Parent2018 Summer Europe and The United States New Rome Shoes High-Heeled Female Sandals with A Wrapped Root Open Toe B07C1JYS64 Parent
Exing Women's Shoes Summer Sandals Stiletto Heel Open Toe European and American Ladies Black High-Heeled Sandals... B07C15R5T2 Parent , Exing Women's Shoes European American Ladies Sexy Fish Mouth Waterproof Platform High Heel Sandals (Color : 6,... B07C1MHWPJ ParentWomen's Sandals High Heels Rhinestone Stiletto Peep Toe Serpentine Winding Slip On Roman Shoes Dress Party B07C2ZSKH7 ParentRomeo Gigli Women’s 200 Shoes with Strap B07C3XJWLT Parent
#Fly London Yidi190fly Black Leather Womens Wedge Sandals Shoes B07C5D3DRQ Parent , Gaolongjun Women's shoes GLJXG Female Summer With Fine High Heel Sandals 2 Colors Optional, Size Optional Pumps B07C8GRXY9 Parent , Kitzen Women Sandals Fashion 2017 Ladies Womens Fight Color Fish Mouth Pumps Ankle Strap High Heels Platform Party... B07C8LTV2R ParentGaolongjun Women's shoes GLJXG Women's Shoes Summer Wild Wedges Sandals Muffins Thick-soled Sandals 2 Colors Optional... B07C8RDKMQ ParentHyun Times Tip Fine With High Heels Shoes 9.5cm B07C9CK8HN Parent
Hyun Times Wine Red Fine With 12CM High Heels Pointed Single Shoes Female B07C9D3YKZ Parent , Hyun Times Black Pointed Shallow Mouth Shoes Female Fine With High Heels B07C9D3YLT Parent , Ladies Women Wedge Sandals Fashion Fish Mouth Hollow Roma Shoes Fashion Sandals Comfortable Ladies Shoes B07C9N1LTX Parent
HN Shoes Womens Sandals High Heels Peep Toe Strappy Stiletto Black Red Ladies Sandal Heels Ankle Strap Shoes Size... B07C9N2JLW Parent , HN Shoes Women's Sandals Wedges Heels Shoes Slip On Slingback Slippers Black Red Summer Ladies Peep Toe Dress... B07C9RKTJR Parent , HN Shoes Women's Sandals High Heels Shoes Black Ankle Strap Buckle Red Ladies Stiletto Smart Peep Toe Summer Dress... B07C9RMKKW Parent , HN Shoes Women's Slippers Slingback Sandals Slip On Ladies Black White Summer Stiletto Metal High Heel Shoes Peep... B07C9S46ZX Parent , HN Shoes Women's Sandals High Heels For Women Platform Summer Peep Toe Ankle Straps Black Red Dress Party Size... B07C9SLNJQ ParentHN Shoes Women's Sandals High Heels Shoes Slingback Black Ankle Strap Buckle Platform Red Ladies Peep Toe Summer... B07C9SVV4V ParentHN Shoes Women's Sandals High Heels Shoes Slip On Slingback Slippers Platform Black Red Summer Ladies Peep Toe... B07C9VNFCH Parent
Exing 2018 New Summer Womens's Shoes Rome Shoes Europe and The United States Ladies Single Strap High Heel Open-Toed... B07C9TR81B Parent , weiwei Women's Flat Sandals, Open Toe Rhinestones Casual Beach Shoes B07CBMRHDP Parent , Women's Shoes HWF Summer Platform Shoes Female Sandals Cool Slippers B07C9XCLV3 Parent
Exing Women's Shoes Sexy Mesh Ankle Boots Fashion Boots Bootie Sandals Stiletto Heel Booties/Ankle Boots B07CBNDD6Y Parent , WXMDDN Autumn Female Shoes British Wind Flat Bottom Shoes Retro Tassel Shoes Women's Singles Shoes, Brown, 39 B07CBN3R9T Parent , Women's Shoes Europe and The United States Ladies Black and White High-Heeled Rivets with Sandals B07CBQR25R 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.