Allhqfashion Women's Pull-On Round Closed Toe Kitten-Heels Blend Materials Solid Pumps-Shoes B072L5T1BZ Parent , Smilice Size 1-13 US Women Sky High Heel Platform Pumps for Wedding & Party B072L5LR9Q Parent , Allhqfashion Women's Pull-On PU Pointed Closed Toe Low-Heels Solid Flats-Shoes B072L6CWY3 ParentAllhqfashion Women's Buckle Imitated Suede Pointed Closed Toe High-Heels Solid Pumps-Shoes B072L6QR2J ParentAllhqfashion Women's Round Closed Toe High-Heels Frosted Solid Pull-On Pumps-Shoes B072L6PC4Q Parent
Allhqfashion Women's Solid PU Low-Heels Buckle Square Closed Toe Pumps-Shoes B072L6QR3D Parent , Odomolor Women's Pull-on PU Pointed Closed Toe High-Heels Assorted Color Pumps-Shoes B072L6QXR2 ParentAllhqfashion Women's Soft Material Round Closed Toe Kitten-Heels Buckle Solid Pumps-Shoes B072L6RS21 Parent
Allhqfashion Women's Zipper Pointed Closed Toe Low-Heels PU Solid Pumps-Shoes B072L6TPM7 Parent , Allhqfashion Women's Fabric Surface Solid Buckle Pointed Closed Toe High-Heels Pumps-Shoes B072L6YX8V Parent
Allhqfashion Women's Solid PU High Heels Round Closed Toe Buckle Pumps-Shoes B072L6Z57Q Parent , Allhqfashion Women's Low-Heels Soft Material Solid Pull-On Pointed Closed Toe Pumps-Shoes B072L6ZS46 Parent , Allhqfashion Women's Imitated Suede High-Heels Square Closed Toe Solid Pull-On Pumps-Shoes B072L725JY Parent , Allhqfashion Women's PU High-Heels Round Closed Toe Solid Buckle Pumps-Shoes B072L7292C Parent , 1TO9 Ladies Pull-On High-Heels Low-Cut Uppers Soft Material Pumps Shoes B072LTD9WX Parent , Allhqfashion Women's Soft Material Pointed Closed Toe High-Heels Buckle Solid Pumps-Shoes B072L7292G Parent
Allhqfashion Women's Soft Material Round Closed Toe High-Heels Pull-On Solid Pumps-Shoes B072L7MXB1 Parent , Aisun Women's Sweet Pointed Toe Slipsole Pump Court Shoes B072LYV6TB ParentAllhqfashion Women's PU Solid Pull-On Round Closed Toe High-Heels Pumps-Shoes B072L7N9GQ Parent
AdeeSu Girls Spun Gold Bowknot Mule Formal Polyurethane Pumps Shoes B072LT8P2S Parent , Allhqfashion Women's Round Closed Toe Pull-On Imitated Suede Solid High-Heels Pumps-Shoes B072L7RXBD ParentAllhqfashion Women's Low-Heels Assorted Color Pull-On Frosted Round Closed Toe Pumps-Shoes B072L7SB7G Parent
AdeeSu Womens Bead Mid-Heel Round Toe Polyurethane Pumps Shoes B072LRSV1H Parent , Allhqfashion Women's Assorted Color PU High-Heels Round Closed Toe Buckle Pumps-Shoes B072NS2BRC Parent , AdeeSu Ladies Glass Diamond Buckle Mid-Heel Microfiber Pumps Shoes B072LSYRT2 Parent , Allhqfashion Women's Low-Heels Solid Pull-On PU Square Closed Toe Flats-Shoes B072NY8MFJ Parent1TO9 Womens Glass Diamond Round Toe Casual Polyurethane Pumps Shoes B072MPRQFF Parent
Allhqfashion Women's High-Heels Soft Material Pull-On Round Closed Toe Pumps-Shoes B072NSL5FN Parent , Allhqfashion Women's PU High-Heels Pointed Closed Toe Assorted Color Pull-On Pumps-Shoes B072NRWTZS 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.