KPHY-Leather Inside Women'S Shoes Thick Sole Casual Shoes.Black Thirty-Seven B07GXX74ZM Parent , KPHY-Fitness Running Women'S Shoes Leather Muffin Bottom Patchwork Leisure Sports Yellow Thirty-Four B07GXXBHVT ParentKPHY-Fish Mouth Shoes Suede High Heels 12Cm Diamond Sexy Sandals Fish Mouths Women'S Shoes.Black Thirty-Nine B07GXX9Z79 Parent
KPHY-Casual Women'S Shoes Leather Increased Autumn Wild High Fashion White Thirty-Five B07GXXGG5P Parent , KPHY-Leather Women'S Single Shoes High Inside A Hundred And Up Sports Shoes B07GXXF2HV ParentKPHY-Thick-Soled Women'S Shoes Leather Muffin Sole Thick-Soled Heightening Leisure Sports Running Patchwork Fashion... B07GXXHT11 Parent
KPHY-Students Have Higher Sandals Thick Bottom Sloping Women'S Shoes Muffin Shoes Fish Mouths And High Heels.Forty... B07GXXKKCT Parent , KPHY-Casual Women'S Shoes Thick Bottomed Sports Wild Sports White Thirty-Seven B07GXXMK9G Parent , KPHY-Casual Women'S Shoes Leather Increased Autumn Wild High Fashion Black Thirty-Four B07GXXLT11 Parent , KPHY-Casual Women'S Shoes Leather Increased Autumn Wild High Fashion Black Thirty-Seven B07GXXVX3R ParentKPHY-Board Shoes Thick Bottom Street Racket Increased Inside.Blue Thirty-Five B07GXXR7RR Parent
KPHY-Women'S Shoes Leather Autumn And Winter Leisure Sports Shoes Muffin Bottom.Khaki Thirty-Five B07GXY1631 Parent , KPHY-Inner Heightened Women'S Shoes Roses Layout Inner Heightened Leisure Fashion Sports Golden Thirty-Eight B07GXXZBSV Parent , KPHY-Flying Weave Mesh Sports Shoes Thick-Soled Heightened Running Shoes Soft-Soled Muffin Shoes Slope Heel Leisure... B07GXY55QR Parent , KPHY-Thick Bottom Muffin Shoes High Casual Shoes Wild Students Thick Bottomed Shoes.Green Thirty-Eight B07GXY2R5B Parent , KPHY-Casual Women'S Shoes Thick Bottomed Sports Wild Sports White Thirty-Four B07GXYYZ9N Parent , KPHY-Women'S Shoes Leather Fashion Sports Leisure Blue Thirty-Eight B07GXYD5P3 Parent , FLYRCX Spring and autumn pointed shallow mouth flat shoes casual fashion single shoes ladies office work shoes B07GYXSFYH ParentGTVERNH Fashion/women's shoes/Summertime One Word 11Cm High Heel Sandals Thin And Wild Sexy Toe Waterproof Women'S... B07GXZJ5YC Parent
FLYRCX Casual fashion shallow mouth soft bottom bow flat shoes ladies work shoes dance shoes B07GYZQZSN Parent , SFSYDDY-Walking Show Crystal Shoes Sandals Heels Shoes Toes 14Cm Super High Heels Transparent Thin Heels Waterproof... B07GYXV87N Parent , SFSYDDY-Women'S Shoes In Autumn And Winter Are Higher Than Women'S Shoes. B07GZ3ZZLR Parent , SFSYDDY-14 Cm Thick Bottom Super High Heel Waterproof Table Sandals Big Size Women'S Shoes Model Walking Shoes... B07GZ2PZCR Parent , SFSYDDY-Wedding Shoes Are 16Cm High With Water Tables Shallow Mouth Women'S Shoes Sexy Nightclubs Fine With Water... B07GZK83BZ Parent , ZHZNVX Women's Shoes PU(Polyurethane) Fall Comfort Sneakers Flat Heel White/Yellow / Pink B07GZPCT3D Parent , ZHZNVX Women's Shoes Cowhide Spring/Fall Comfort Sneakers Flat Heel Round Toe White/Black B07GZMTDCC Parent
FLYRCX Shallow mouth breathable soft bottom bow flat shoes ladies fashion comfortable single shoes work shoes... B07GZMZFRZ Parent , ZHZNVX Women's Shoes Suede Spring/Fall Comfort Sneakers Flat Heel Black/Gray / Brown B07GZN8KX8 Parent , ZHZNVX Women's Shoes Cowhide Spring/Fall Comfort Sneakers Low Heel Black/Red / Green B07GZNJWZL 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.