FLYRCX Spring and summer cloth striped single shoes shallow mouth pointed flat shoes ladies work shoes B07GCLJBK8 Parent , FLYRCX European summer fashion bow pointed low heel sandals black flat shoes work shoes B07GCL9PN6 Parent , FLYRCX European fashion sweet bow shallow mouth comfortable flat shoes pregnant women shoes work shoes single... B07GCLW26B Parent , FLYRCX Casual fashion non-slip soft bottom flat shoes pregnant women shoes single shoes ladies office work shoes B07GCLYPQJ Parent , FLYRCX Pointed sweet bow plaid black flat shoes single shoes office work shoes B07GCM4GC7 ParentFLYRCX Shallow mouth non-slip soft bottom pregnant women ladies office work shoes casual fashion flat shoes B07GCM5NLW ParentKPHY-Leather Sponge Cake Leisure Thick Bottom Shoes Wild Increased Inside White Thirty-Four B07GGFYK5T Parent
FLYRCX Spring and autumn pointed shallow patent leather shoes soft and comfortable flat shoes ladies office work... B07GCMRMWT Parent , FLYRCX European spring and summer fashion rhinestones shallow mouth flat shoes single shoes ladies work shoes B07GFG72BW Parent
FLYRCX Women's low-heeled pointed shoes bow shallow mouth comfortable retro single shoes work shoes, 36 EU, B B07GCNR1PQ Parent , FLYRCX Women's pointed shallow mouth soft bottom flat shoes sweet bow fashion comfortable single shoes pregnant... B07GFGSYKZ Parent , FLYRCX Women's shallow mouth simple fashion comfortable flat shoes pregnant women shoes work shoes single shoes B07GCPTVHL ParentXINGMU Elastic Breathable Sports Shoes High Stockings Style Flat Heel Sole. B07GD7PDWC Parent
XINGMU Class Sports Shoes Hip Hop Street Style Flat Style. B07GD8SFBR Parent , FLYRCX Women's silver flat shoes, shiny metal buckle, comfortable work shoes, pregnant women's shoes B07GFLYYKC Parent
XINGMU Elastic Casual Shoes High Stockings Style Hip-Hop Style. B07GD8WCKP Parent , FLYRCX Striped casual bow non-slip soft bottom comfortable flat shoes ladies office work shoes single shoes pregnant... B07GCP4453 Parent , XINGMU New Sports Shoes Hip-Hop Hip-Hop Style High Fashion Style. B07GD95SZ7 ParentXINGMU Sports Shoes High Stockings Style Casual Style Hip-Hop Elements. B07GD98HBY ParentFLYRCX Spring and summer fashion shallow mouth pointed soft bottom flat shoes ladies soft and comfortable single... B07GFF6NG1 Parent
FLYRCX European spring and autumn shallow mouth pointed stitching shoes soft and comfortable flat shoes pregnant... B07GFHR9VL Parent , FLYRCX Spring and summer hollow breathable flat shoes single shoes soft and comfortable non-slip maternity shoes... B07GFFG9TW Parent , FLYRCX Spring and autumn fashion shallow mouth plaid bow flat shoes single shoes pregnant women shoes ladies... B07GFG6H22 Parent , FLYRCX Summer fashion bow mesh hollow hollow flat sandals shoes pregnant women shoes ladies work shoes B07GFG729T ParentKPHY-Leather Inside Women'S Shoes Thick Sole Casual Shoes.White Thirty-Six B07GGFY7HY ParentKPHY-Casual Women'S Shoes Leather Autumn Increased Wild Black Thirty-Eight B07GGM3YMC Parent
FLYRCX Women's soft and comfortable shallow shoes foldable flat shoes portable travel shoes ballet shoes non-slip... B07GFFF72R Parent , FLYRCX Summer pointed shallow mouth fashion comfortable candy color flat shoes single shoes non-slip maternity... B07GFSBS61 Parent
FLYRCX Spring and summer pointed shallow mouth single shoes casual fashion comfortable flat shoes pregnant women... B07GFN38BG 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.