WYYY Women's Shoes Summer Low Heel Block Retro Pointed Butterfly Knot Flat Sandals Low Heels Casual Shoes Party... B07DNC61J7 ParentWYYY Women's Shoes Summer Low Heel Block Toe Thick Bottom Outer Wear Flat Sandals Platform Shoes Low Heels Casual... B07DNC331R ParentYMFIE Tangle shallow thin high heel sexy frosted face single shoe ladies' fashion banquet shoes. B07DNCXMPP ParentYMFIE Ladies' summer strap high toe sandals fashionable sexy temperament hollowed high heels fish mouth shoes... B07DNCKBJR ParentZFYSS Sandals Summer Sharp Lacquer Back Empty Single Buckle Shallow Mouth Women'S Shoes Jokes Fine Heels 9Cm High... B07DNFS14V Parent
GTVERNH Joking Summer Flat Bottom Rome Students Sandals Women'S Shoes B07DNH7281 Parent , GTVERNH Rough Heels Sandals Summer Wild 8Cm High Heels Fish Mouth Shoes Single Shoes Women'S Shoes. B07DNH8QM4 Parent
GTVERNH Thick Bottom Muffin Slope Heel Rome 8Cm High Heel Summer Students Sandals Women'S Shoes. B07DNHDSGT Parent , GTVERNH Summer Women'S Shoes Thick Bottom Waterproof Platform Slope Heel Sandals Buckles High Heels Exposed Shoes... B07DNHKB91 Parent , GTVERNH Summer Sandals Thick Heels 9Cm High Heels Wild Kits Waterproof Tables Buckles Women'S Shoes. B07DNHMHLQ ParentGTVERNH Sandals Summer Women'S Shoes One Word Buckle Comfortable B07DNHNTW4 ParentGTVERNH-9Cm High Heels Toes Sandals Springtime Wild Summer Buckles Rough Heels Women'S Shoes. B07DNJFNPQ Parent
Women's sandals Baotou leather shoes in Europe and America with Leather Women Sandals B07DQTGZPD Parent , Pearl Elegant Lady Flat Sandals Roman Shoes B07DNTPBRX ParentYLLXZ Women's shoes sandals hemp rope Spring and summer High heel Soft bottom Slope Thick bottom flip flops Beach... B07DRMRV9S Parent
Leather Pearl Elegant Temperament Women Flat Sandals Roman Shoes B07DNXLSLB Parent , WYYY Women's Shoes Summer Low Heel Block Retro Word Buckle Bandages Open Toe Flat Sandals Low Heels Casual Shoes... B07DNXTHZ6 Parent , KPHY Summer Madam Sandals 6Cm High Heels Retro Flowers Hollowed Out Women'S Shoes Fish Mouths B07DNYMBMC Parent
KPHY Fish Mouth Sandals Summer Spring Fine Heel Wild Jog Middle Heel Shallow Mouth Cat Heel 7Cm High Heel Women'S... B07DNYQ44L Parent , KPHY Fish Mouth Sandals Spring Single Shoes Summer Rough Wild Net Gauze 9Cm High Heel Shoes Women'S Shoes. B07DNZL6MV Parent , KPHY Sandals Female Summer Rough Soft Bottom Middle Heel Skid Resistant Comfortable Fish Mouths Middle-Aged Ladies... B07DNZ13VY Parent
Jqdyl High heels New Women'S Sandals Female Summer With A Buckle High Heels Female Thick With Waterproof Platform... B07DSDF8BX Parent , KPHY Summer Wild Sandals Thick Bottomed Hollowed Out Mother Shoes Baotou Hollow Women'S Shoes B07DNZ8N4B Parent , KPHY Summer Soft Bottom Flat Bottom Women'S Shoes Thick Bottom Leisure Holes Students Sandals Fish Mouths. B07DNZDSWV Parent
KPHY Fish Mouth Sandals Spring Summer Rough Wild Single Shoes Rome Middle Heels Net Gauze 7Cm High Heels Women'S... B07DNZ9DK5 Parent , KPHY Fish Mouth Sandals Spring Single Shoes Summer Rough Wild Middle Heels Net Gauze 7Cm High Heels Women'S Shoes. B07DNZ8S4M Parent
KPHY Summer Sandals Soft Bottom Mother Shoes Hollowed Out Cave Shoes Velcro Women'S Shoes Anti-Skid. B07DNZK4CN Parent , KPHY Fish Mouth Sandals Spring Single Shoes Summer Rough Wild Net Gauze 7Cm High Heel Women'S Shoes. B07DNZ56BP Parent
KPHY-10Cm High Heels Rome Sandals Hollowed Out Netted Holes Cool Boots Fish Mouths Thin Heels Toes Spring And... B07DNZL6NV 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.