WKNBEU Ladies Black Open Toe Leather Roman Net Yarn Work Office Sandals Dress Shoes B07DT7WC2V Parent , Sandals Amazing Summer Rhinestone Flowers Roman Boho Flat Beach Holiday Shoes (Color : A, Size : EU36/UK3.5/CN35) B07DT83D94 Parent , Slipper Retro Sandals Female Summer Taste Sandals With Student Shoes (Color : Black, Size : EU37/UK4-4.5/CN37) B07DTBB2K5 Parent , XINGMU Rope Shoes Straw Shoes Sandals Fishermen'S Shoes Sandals B07DTBV17C Parent
Xue Qiqi Single shoes female tip hollow flat footwear light-Slotted hasp ladies sandals with low women's shoes B07DVKDHWP Parent , ZHANGJIA MsHigh Heel Sandals, Hollow Single Shoes, Pointed Tips, Rough Sandals And Sandals. B07DVPTBVT Parent , YMFIE Ladies summer leisure fashion comfortable flat bottomed toe toe sandals beach shoes. B07DW8B6YK Parent , JIU Sandals Slippers Scrub Vamp Slippers Female Summer Polyurethane Thick Bottom A Dual-purpose Shoes Sandals... B07DW94M23 Parent
JIU Sandals Slippers Female Summer PU Upper Sandals Fashion Printing Thick Sole Slope Women's Shoes High Heels... B07DW9FMFC Parent , YMFIE Ladies summer fashion retro plain toes sandals sandals beach shoes. B07DW9SNBJ ParentYMFIE Ladies' summer fashion flat bottomed diamond toe toe sandals beach shoes two ways of dressing. B07DW9VQ53 ParentYMFIE Ladies' summer fashion soft bottom flat bottom toe toe sandals comfortable antiskid beach shoes. B07DWB7Q3M Parent
YMFIE Summer Bohemian lady toe toe sandals comfortable antiskid beach shoes B07DWB7Q34 Parent , YMFIE Summer lady crossover with flat bottom toe toe sandals comfortable antiskid beach shoes. B07DWC6DZQ Parent , YMFIE Ladies summer flowers butterflies toes sandals casual fashionable comfortable flat bottom beach shoes. B07DWBCHHP Parent
YMFIE Summer simple fashion Vintage Black flat bottom toe toe sandals women's anti slip beach shoes B07DWC6HL9 Parent , YMFIE Summer ladies square heel fashion comfortable toe toe sandals outdoor vacation antiskid beach shoes B07DWC6F6M Parent
YMFIE Ladies' summer flat bottomed sandals bohemian sweet flowers beach shoes. B07DWCRS9X Parent , YMFIE Ladies summer pearl toe sandals casual fashionable comfortable anti slip beach shoes. B07DWC6MBH Parent , YMFIE Shallow fashion sexy bow tie with high heel sandals fish mouth shoes ladies high heeled shoes. B07DWKYDX3 Parent
YMFIE Summer flat bottomed toes ankle strap sandals ladies fashion and antiskid beach shoes. B07DWFS3MG Parent , QIDI Women's Shoes Casual Flat Bottom Breathable Single Shoes Peas Shoes (Size : EU35/UK3) B07DXTDZV4 Parent
YMFIE Summer sandals with flat bottom shoes lady's fashion comfortable and non slippery beach shoes. B07DWNZQWJ Parent , JingSen LFD Spring Korean Fine with High-Heeled Side Empty Beads Buckle Shallow Mouth Shoes B07DXW9X9C Parent , QIDI Casual Shoes Female Off White Fashion Hollow Breathable Single Shoes (Size : EU40/UK7) B07DXVRFRD ParentZHANGJIA Medium heeled sandals with thin and pointed shoes B07DYV9K4M Parent
XINGMU Straw Shoes Fishermen'S Shoes Women'S Flat Sole Shoes Women'S Shoes Sandals B07DXZ624Z Parent , KPHY Europe and America Sexy Waterproof Platform 13Cm Super High Heels Sandals Fine Heels Night Clubs Walking... B07DYZGSLQ Parent , XINGMU Flat Bottomed Sandals Straw Shoes Fishermen'S Shoes Women'S Shoes B07DYYXMZY 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.