QIDI Sandals Female Fashion TPR Materials Outdoor Single Shoes (Color : T2, Size : EU36/UK3.5) B07CFX68YX Parent , QIDI Sandals Female Fashion Apricot Black High Heel Single Shoes (Color : Apricot, Size : EU39/UK6.5) B07CFX7YG4 Parent
Sandals ZHIRONG Women's Summer Vintage Butterfly Knot Thick Bottom Rome Open Toe Beach Shoes Student Shoes 5CM... B07CG1TDD9 Parent , NAN Women's Shoes Summer Rhinestone Ankle Strap High-heeled Sandals Sexy And Comfortable Work Wedding Party Silver... B07CG2DCX5 Parent , QIDI Sandals Female Fashion Black White Polyurethane High Heel Single Shoes (Color : Black, Size : EU35/UK3) B07CG2RQST Parent , Sandals Feifei Women's Shoes Summer PU Material Rhinestone Fashion High Heel (with High: 7CM) B07CG2TK86 Parent , LBDX Korean Version Pointed Hollow Sandals Slim high Heel Shallow Mouth Women's Shoes B07CG2WF1L Parent , QIDI Sandals Summer Female Black Golden High Heel Fashion Single Shoes (Color : Gold, Size : EU38/UK5.5) B07CG2YBC2 Parent , QIDI Sandals Summer Female Black Green Mid Heel Single Shoes (Color : Black, Size : UE37/UK4.5-5) B07CG2YBC4 Parent , HXVU56546 The New Summer Comfortable High-Heeled Set Foot Students Sandals Sweet Women Shoes B07CG2YWDK ParentNAN Women's Shoes Summer Ankle Buckle High-heeled Sandals Sexy And Comfortable Thin Heel Pointed High-heeled Sandals... B07CG36GFB ParentNAN Women's Shoes Summer Rome Ankle Strap High-heeled Sandals Sexy And Comfortable Thin Heel Work Wedding Party... B07CG34D6Y Parent
NAN Women's Shoes Summer Ankle Strap High-heeled Sandals Sexy And Comfortable Fine Heel High-heeled Sandals Work... B07CG4KLCC Parent , GTVERNH Summer Sharp 10Cm High Heels Transparent Crystal Fine Heel Sandals Transparent Film Women'S Shoes B07CG6QG8B ParentGTVERNH In Summer A Buckle Fine With Sandals Women With 6Cm Summer High-Heeled Shoes Toe Shoes Air Zichao B07CG6QJMG Parent
Sandals ZHIRONG Women's Summer Open Toe Fish Mouth Thick Heel Rhinestone One-button Buckle High Heels Roman Shoes... B07CG79BRL Parent , GTVERNH-18Cm High Heels Sandals Female Stage Catwalk Crystal Transparent Steel Tube Shoes B07CG8HZT7 Parent , Sandals ZHIRONG Women's Fashion Fish Mouth Thick Heel Net Yarn Hollow High Heels Roman Shoes 8CM (Color : Black... B07CG8NTLV Parent , GTVERNH-6Cm High Heels Cat Summer With A Fine A Buckle Toe Sexy Color Women Shoes Sandals All-Match B07CG8ZDDV Parent , GTVERNH Sexy Night Store Fun Shoes Metal Fine Heel Fish Mouth Women'S Shoes Waterproof Platform 15-17Cm Super... B07CG97RNY Parent , Sandals ZHIRONG Women's Summer Open Toe Waterproof Platform Thick Heel Stripe High Heels Roman Shoes Fish Mouth... B07CG9B5ZX Parent , Sandals ZHIRONG Women's Summer Open Toe Comfortable Thick Heel Rivet Zipper High Heels Roman Shoes Fish Mouth... B07CGB171S Parent
GTVERNH Women'S Shoes Fine Heels High Heels Women'S Shoes 10Cm Fish Mouth Fashion Woman Sandals B07CGB5V1Y Parent , GTVERNH Summer Fine Heel Sandals Women 12-14Cm High Heels One Word Buckle Toes Low Help Hollow Shoes B07CGB6R4P Parent
Sandals ZHIRONG Women's Fashion Open Toe Fish Mouth Thick Heel Hollow Net Yarn Bow Tie High Heels Roman Shoes... B07CGBHZ79 Parent , GTVERNH Sexy Night Store Fun Shoes Metal Fine Heel Fish Mouth Seduction Women'S Shoes Waterproof Platform 15-17Cm... B07CGBY56W Parent , Sandals ZHIRONG Women's Fashion Summer Fish Mouth Thick Heel Hollow Straps Waterproof Platform High Heels Roman... B07CGC9BBT ParentSandals ZHIRONG Women's Summer High Heel Fashion Open Toe Waterproof Platform Thin Heel Rhinestone High Heels... B07CGCFY3P Parent
Sandals ZHIRONG Women's Summer High Heel Fashion Waterproof Platform Open Toe Fish Mouth Crystal Heel Slippers... B07CGCP6B8 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.