KPHY Summer Women'S Shoes/Coarse With Female Spring Summer Sharp 9Cm High Heel Shoes Suede Hollow Simple Wild... B07F89J7XM Parent , KPHY Summer Women'S Shoes/Spring Pointed Retro Shallow Single Shoes Bandages Hollowed Out Middle Heels Thick Heels. B07F89J7XX Parent , KPHY Summer Women'S Shoes/Spring Women'S Shoes Fashionable Belt Buckle 6Cm High Heel Shoes Suede Joker Shallow... B07F89P5KJ ParentKPHY Summer Women'S Shoes/A Pair Of Buckle Shoes Fine Heel 6Cm High Heel Shoes Spring Lattice Color Matching Sharp... B07F8B1LD6 ParentKPHY Summer Women'S Shoes/Fashionable Women'S Slippers Worn Outside Summer Gauze Lazy Shoes Rough Heels Waterproof... B07F89Q65J Parent
KPHY Summer Women'S Shoes/Spring Women'S Shoes Sweet Bow Pointy Suede 9Cm High Heel Shoes Thin And Shallow Fashionable... B07F899NCY Parent , KPHY Summer Women'S Shoes/Spring And Autumn Temperament 9Cm High Heel Shoes Suede Hollow Buckles Rough Shoes. B07F89Q6GZ Parent , KPHY Summer Women'S Shoes/Shallow Mouth 9Cm High Heel Shoes Rough Heel Pointed Head Rivet Shoes Spring Women'S... B07F89FDPK Parent
KPHY Summer Women'S Shoes/Elegant Little Women Spring Pointed Rivet Fine With The Middle Bow Fashion Shallow Single... B07F89SLX9 Parent , KPHY Summer Women'S Shoes/Pointed Baotou Sandals Summer Fine Heel 9Cm High Heels Sexy Lacquer Word Belt Cat Heel. B07F89PZS5 Parent , KPHY Summer Women'S Shoes/Women'S Shoes Autumn Deep Mouth Lacquer 10Cm High Heel Shoes Sloping Shoes Thick Bottomed... B07F89ZRB9 ParentKPHY Summer Women'S Shoes/In Summer 6Cm High-Heeled Shoes Rough Heels Jigs Metal Buckles Sharp Coloring Single... B07F89XPLK Parent
KPHY Summer Women'S Shoes/One Button Hollow Women'S Shoes Spring Rough Heel 11Cm Super High Heel Shoes Waterproof... B07F8B1LD8 Parent , KPHY Summer Women'S Shoes/Heel Female Cool Slippers Fashion Wear Summer Personality Baotou Sandals 8Cm High Heels. B07F89R55L Parent
KPHY Summer Women'S Shoes/In Summer 8Cm High Heels Jokes Elegant Pointy Sexy Thin And Empty. B07F8B3ZW5 Parent , KPHY Summer Women'S Shoes/8Cm High Heels Women Spring And Autumn Pointed Sexy Rivets Thin And Shallow Fashionable... B07F8BNSYT ParentKPHY Summer Women'S Shoes/Rough And Pointed Front And Empty 7Cm High Heels Sandals Summer Suede Suede. B07F8B8Q2D Parent
KPHY Summer Women'S Shoes/Pointed 9Cm High Heels Wild Hollow Suede Female Spring And Summer A Word With Thin Single... B07F8B2P2M Parent , KPHY Summer Women'S Shoes/Women'S Shoes Shallow Spring Rough Suede Single Shoes Simple Temperament 7Cm High Heels... B07F8BNXVJ Parent
KPHY Summer Women'S Shoes/Commuter Wind Summer Wild High Heeled Shoes Women'S Shoes Hollow Buckled Thick Sharp... B07F8BNXVY Parent , KPHY Summer Women'S Shoes/In Spring And Summer Women'S Shoes Diamond Drill Shallow Middle Heel 6Cm High Heel Pointed... B07F8BPMJG Parent , KPHY Summer Women'S Shoes/British Style Lattices Sharp Pointed High Heels Women'S Single Shoes Shallow Hollow... B07F8B8Q23 Parent , KPHY Summer Women'S Shoes/Retro Pointed Shoes Suede Rough Heels 8Cm High Heels Spring And Summer Fashion Buckles... B07F8BVB3K Parent
KPHY Summer Women'S Shoes/It'S A Slip Of The Tongue Muffin Sandals Women Summer Wild Water Waterproof Table Thick... B07F8CJFV6 Parent , KPHY Summer Women'S Shoes/Rough Heels Fashionable Joker Women'S Single Shoes Sharp Head Shallow Mouth Hollow Lacquer... B07F8BY1FC ParentKPHY Summer Women'S Shoes/Buckles High Heels Summer Women'S Shoes Wild Diamond Rough Heel Port Wind Fashion Sandals. B07F8BXXN6 Parent
KPHY Summer Women'S Shoes/British Style Fashionable Plaid Rough Heel 9Cm High Heel Shoes Female Spring And Summer... B07F8C3CV9 Parent , KPHY Summer Women'S Shoes/Hollow Single Shoes Summer Small And Wild Women'S Shoes Water Drill Metal Buckle Sharp... B07F8BPZYQ ParentKPHY Summer Women'S Shoes/In Spring It'S Small And Refreshing With A Single Buckle Ladies Leather Shoes Square... B07F8C3HBH 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.