RTRY Women'S Shoes Spandex Nubuck Leather Fall Winter Fashion Boots Boots Round Toe Over The Knee Boots Ruffles... B077SGQKZ2 ParentRTRY Women'S Shoes Horse Hair Fall Winter Fashion Boots Bootie Light Soles Boots Pointed Toe Booties/Ankle Boots... B077SRQGS8 Parent
FLYRCX Women's high heel shoes with thin heel Suede Boots B077TP7MSS Parent , FLYRCX European autumn and winter sharp head fine heel knitted personality tailoring high heel party shoes B077TVC4XL Parent , HGTYU-Martin Boots Female England Fans And In Autumn Winter New Korean Version Of The Wild The Rise In Women'S... B077WPNLN5 Parent , HGTYU-Tip Single Shoes Leather Shoes The New Korean Version Of The Autumn And Winter Wild Water Is Fine With The... B077WPNSHD ParentHGTYU-Warm Plush Pu Metal Ring Career Women Shoes Sleeve Square Head Leather Boots B077WPNTTY ParentKHSKX-Sharp Heel Heel Shoes Female Martin Boots Short Tube Boots Spring And Winter Tie Suede Black Single Boots B077XFWPV8 Parent
KHSKX-High Heels Rough With Short Barrel Pointy Black Martin Boots Female Winter In England All-Match Rhinestone... B077XG6DP4 Parent , KHSKX-Thick With Round High-Heeled Shoes Female Boots Boots Martin Short British Style All-Match Matte White Bare... B077XG7WDR Parent , KHSKX-Fine Heel High Heel Shoes Female Martin Boots Short Tube Bare Boots English Velvet Cotton Boots Black B077XH2YL5 Parent
KHSKX-Square Thick With Rivets High-Heeled Shoes Female Boots Boots Martin Short Spring And Autumn And Winter... B077XH989V Parent , KHSKX-Heel Heel Heel Heel Shoes Female Martin Boots Short Boots Korean Version With Velvet Bare Boots B077XHBC7K ParentKHSKX-Leisure New Single Shoe Woman Bullock'S Round Tie Women'S Shoes Thick Bottom White Shoes B077XHVYGQ Parent
KHSKX-Mom Shoes Shoes In Autumn And Winter With Warm Soft Velvet Leather Bottom Slip With The Boots And Shoes... B077XJ5K6L Parent , KHSKX-Po Shoes New Shoes For Autumn Platform Shoes Casual Shoes And High Heels B077XJBC69 ParentKHSKX-Top Mirror Low Help Shoes New Single Shoes And Women'S Shallow Mouth One Word Buckles With A Thick Heel... B077XJCRXW Parent
KHSKX-Old Mama Shoes Shoes Female Winter Warm Non Slip Plus Velvet Boots With Thick Shoes With Autumn And Winter... B077XJCS64 Parent , KHSKX-The Wind Martin Boots And A Small Velvet With The Boots The New All-Match Korean Winter Women Shoes B077XJF9ZB Parent
KHSKX-British Style Boots All-Match Matte Martin Boots Female Boots And Thick Sponge Plus Velvet Shoes Boots B077YGQ7TG Parent , HXVU56546 Thick Bottom Martin Boots Women'S Shoes Autumn And Winter Women'S Plus Velvet Thick Warm Cotton Boots B077Z7XLHF Parent
KHSKX-10Cm Autumn And Winter Fashion New High-Heeled Boots Round Fine With Martin Boots Beauty Cashmere High-Heeled... B077YKRJXK Parent , Women's Shoes Leatherette Fall Winter Fashion Boots Boots Chunky Heel Round Toe Booties/Ankle Boots Buckle For... B077ZNBWCY Parent
Women's Shoes Leatherette Fall Winter Fashion Boots Combat Boots Boots Chunky Heel Round Toe Booties/Ankle Boots... B077ZS5KJ9 Parent , Women's Shoes Boots Comfort Fall Winter Chiffon Leatherette Casual Party & Evening Dress Rivet Chunky Heel Brown... B077ZS5CVD Parent , Women's Shoes Nubuck leather Winter Fashion Boots Boots Chunky Heel Round Toe Thigh-high Boots For Casual Dress... B077ZT1D7H Parent
Women's Shoes Boots Comfort Fall Winter Chiffon Leatherette Casual Dress Creepers Blue Black 1in-1 3/4in B077ZSRNQ2 Parent , KHSKX-All-Match Word Buckle Elastic Wine Red Short Thick Soled Shoes Leisure With Coarse High-Heeled Shoes Deep... B0783H4Z5N Parent , Women Thigh High Boots Skinny Jeans Tall Boots Charming Pointed Toe Denim Elastic Cloth Zipper Dress Boots OL... B0781LZT7B 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.