Sandals ZHIRONG Women's Summer High Heel Vintage Rome Ankle Straps Open Toe Thick Heel Shoes One-button Buckle... B07CG2NPC2 ParentSandals ZHIRONG Women's Waterproof Platform High Heels Open Toe Fish Mouth Shoes Fine With Nightclub Shoes Party... B07CFKR5C2 Parent
Sandals ZCJB Female Summer Leisure Flat Bottom Rome Female Platform Shoes Student Shoes Rivet (Color : White,... B07CDW6XSP Parent , Women's sandals for party pointed heel shoes shallow-mouthed sexy work shoes (Color : Black 10cm, Size : 41) B07CP1G99H ParentWomen's Shoes 2018 Summer Rhinestone High Heel Sandals Rhinestones New Diamond Sandals Hollow Ladies High-heeled... B07CP2F9C9 Parent
KPHY Small And Fresh Summer Pointy 9Cm High Heels Thin Heels Sandals Sexy Bow Tie Buckles Women'S Shoes. B07CP45BQY Parent , Sandals ZCJB Wedge Female Summer Leisure Thick Bottom High Heels Roman Shoes (Color : Black, Size : 35) B07CF49L76 ParentKPHY Pointed 9Cm High-Heeled Shoes Fine Heels Fashion Sandals Summer Sexy Rivets Buckles Women'S Shoes. B07CNZVN98 Parent
QIDI-women's sandals QIDI Sandals Summer TPR Materials Female Apricot Black Brown Flat Bottom Single Shoes (Color... B07CF7VH2F Parent , Women's Shoes Microfiber Summer Autumn Sandals Sandals Stilettos Office Wear Diamond Party Evening Ladies Sandals... B07CP2HWVW Parent , KPHY Pointed Head 10Cm High Heel Shoes Thin Heels Sandals Sexy Summer Leopard Print Single Buckle Women'S Shoes. B07CP48LFD ParentKPHY Summer 8Cm High Heels Rough Heels Fashion Sandals Sexy Rivets T-Buttons Hollowed Out Women'S Shoes. B07CP4B9LQ Parent
JIANXIN Women's Spring And Summer Fashion Statement Sandals With Chunky Heel Shoes. (Color : GRAY, Size : 37) B07CND9HNN Parent , Tip Stiletto Heel Sandals New Heels For Summer Shallow Ties Sexy Suede Shoes Wedding Shoes (Color : Red 8cm, Size... B07CP4BGLF Parent , KPHY In Summer 9Cm High Heel Shoes Fine Heels Fashion Sandals Toes Sexy Water Drill All Kinds Of Buckles Women'S... B07CP62BGQ Parent , ZLIDS Ms. Leather Summer Sandals Ms. Waterproof Table 11Cm High Heel Round Slip Leather Shoes Black Brown Size... B07CP68HSH Parent
Chi Cheng Fang Electronic business 8.5cm high heels women's sandals casual student shoes fine with sexy shoes... B07CP6FR11 Parent , Women's sandals point shoes work shoes shallow sexy heels (Color : Champagne 10cm, Size : 41) B07CP6HFL5 Parent , Women's Shoes 2018 New Red And Black Elastic Boots Large Size Fashion Cool Ankle Boots High Heel Sandals Ladies... B07CP6VHDT Parent , Women's Shoes Europe And America Women's Red Sardin Cloth Tassel Ultra High Heel Sandals Banquet Shoes Large Size... B07CP6PF4X Parent , KPHY Summer Slope Heels Sandals Waterproof Tables 11Cm High Heels Sexy Color Matching Belt Buckle Women'S Shoes. B07CP6HWKY Parent
Women's Shoes Spring Summer New European And American Ladies Elastic Belt Buckle Super High-heeled Ladies Sandals... B07CP6W27V Parent , KPHY Small Refreshing Summer Slope Heels Sandals Waterproof Tables 11Cm High Heels Flowers Sexy One Touch Women'S... B07CP6Z4VD Parent , KPHY-12Cm High Heels Waterproof Tables Thin Heels Sandals Summer Fish Mouth Shoes Sexy One Word Buckle Women'S... B07CP75J8J Parent , 8.5cm buckle sandals summer new fine heels sexy fashion shoes (Color : Pink, Size : 40) B07CP7RNB7 ParentZLIDS Shoes Summer Leather Toe Strap High Heel Sandals Women's Dress Party B07CP8JDL4 ParentKPHY In Summer 12Cm Super High Heels Waterproof Tables Fine Heels Fashion Sandals Simple Sexy One Word Buckle... B07CP91WRQ ParentKPHY In Summer Sharp Pointed 11Cm High Heels Waterproof Tables Thin Heels Sandals Sexy Rivets Buckles Jokes Single... B07CP8YK6F ParentKHGJHJ High-heeled shoes Sandals with rivets Shoes Baotou Shallow mouth buckle Fashion shoes B07CQL4C17 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.