BalaMasa Womens Sandals Platform No-Closure Ankle-Wrap High-Heels Quilted Cold Lining Rubber Waterproof Microfiber... B07D92M1L8 ParentHavaianas You Riviera Croco Sandal Woman B07D98TL7F ParentBalaMasa Womens Sandals Peep-Toe No-Closure Ankle-Strap No-Heel Smooth Leather Light-Weight Jelly Fashion Urethane... B07D933TL7 Parent
Thalia Sodi Womens MADDORAF Peep Toe Casual Strappy Sandals B07D9G2Y8F Parent , Kenneth Cole Reaction Women’s Slim Slide Flat Sandal B07D992J34 ParentWomen's Rhinestone High Heels Word Strap Sandals Tips Mid-Heel Simple Dress B07D9G327X ParentDKFJKI Women's Word Buckle Sandals Pointed Fine with High Heels Fashion Wild Dress Daily Leisure B07D9GRWVH Parent
BalaMasa Womens Sandals Peep-Toe No-Closure Adjustable-Strap Kitten-Heels Cold Lining Solid Road Fabric Light-Weight... B07D9RBSRJ Parent , BalaMasa Womens Sandals Peep-Toe No-Closure Ankle-Wrap High-Heels Cold Lining Solid Smooth Leather Light-Weight... B07D9R9LYV Parent , AdeeSu Womens Hollow Out Spikes Stilettos Buckle Leather Sandals SLC03232 B07D9S26LD ParentBalaMasa Womens Sandals Peep-Toe Buckle Ankle-Wrap Kitten-Heel Cold Lining Not_Water_Resistant Nubuck Fashion... B07D9T477C Parent
CL by Chinese Laundry Women’s Tulip Slide Sandal B07D9X4MZS Parent , kensie Women's Estan Dress Sandal B07DB4SGXF Parent , shoe Women's Sandals Thick Large Size High Heel Open Toe Wild B07DC51G2G ParentWomen's Sandals Pointed Shallow Mouth High Heel Cross Buckle Fine B07DC54M2X Parent
XUERUI Ms High Heels Stilettos Sandals Graduation Jobs Get Together Fashion Sexy 6.5cm Heel (Color : Gold, Size... B07DC6VWYS Parent , XUERUI Ms High Heels Stilettos Sandals Graduation Get Together Elegant Beautiful 7.5cm Heel (Color : 2, Size :... B07DC6VWWN Parent , SKY-Maria Women's High Heels Personality Fashion Summer Sandals Stiletto Heel Leisure Pumps Large Size 32-43 B07DC8LHVS Parent , SKY-Maria Women's Summer Sandals Toe Ankle Leisure Fashion Stiletto Heel Zipper Decoration Large Size Pumps 34-43 B07DC82ZRT ParentQXH Women's Sandals Round Head Thick Bottom High Heel Belt Buckle B07DC8S7N1 Parent
QXH Women's Sandals Round Head High Heel Thick Bottom Belt Buckle Large Size B07DC8NWV1 Parent , Men's/Women's VALLEVERDE Women Open-Back B07DCB446Q Parent Special purchase New style The first batch of customers' comprehensive specifications
SKY-Maria Women's Fashion Sandals Summer Lady's Stiletto Heel Toe Ankle High Heels Pumps Large Size 34-43 B07DC9H2F7 Parent , LINYI Womens Stiletto Heels Ankle Strap Cross Strap Transparent Open Toe Party Anti Slip Sandals B07DCJKQHK ParentLINYI Womens Temperament Suede Stiletto Heels Sandals Summer 2018 New Open Toe Buckle Party Dress Walking B07DCJZNH5 Parent
LINYI Womens Stiletto Heels T-Strap Women Summer Waterproof Open Toe Sandals Wedding Party Black B07DCK66J9 Parent , LINYI Women's Ankle Strap Cross Strap Sandals Chunky Heel Black Open Toe Simple High Heels B07DCKBH4L ParentWomen's Sandals Pointed Backspace High Heel Rear Strap Thick B07DCV5SDR Parent
SKY-Maria Women's Summer Sandals Fashion High Heels Metal Decoration Light Comfortable Pumps Large Size 32-48 B07DCVX797 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.