NVXIE Women's Ladies Sexy Sandals Stiletto High Heel Single Shoes Platform Peep Toe Red Black Party Dress Nightclub B07FSKPKXT Parent , ZHRUI Court Shoe S808-9 Woman Sexy Pearl Transparent Soft and Comfortable sandals High heels 12cm high heel 35... B07FSL38BP Parent , NVXIE Women's Wedge Sandals Ankle Strap Ladies Diamante Dress Wedding Prom Party Evening Shoes Size B07FSLN6X3 Parent , NVXIE Women's Ladies Summer T-Strap Rhinestone Flip-Flops Flat Sandals Bohemia Beach Shoes B07FSNPXZ8 ParentXiMu High Heel Sandals Nightclub Waterproof Platform Super High Heel Women's Shoes Pump 13CM B07FSPF1KF ParentNVXIE Womens Ankle Strap Wedge Heel Sandals Ladies Diamante Dress Wedding Prom Party Shoes Size B07FSPNX95 ParentZHRUI Court Shoe A836-10 woman Transparent material personality fashion sandals High heels Heel height 11.5cm B07FSPP4TJ ParentZHRUI Court Shoe E88-7 Woman PU Rhinestone Zipper Sandals Banquet 35-40 High heels 12cm high heel Black B07FSQRRGR Parent
ZHRUI Court Shoe Q888-10 woman personality fashion Rear zipper sandals High heels Heel height 11.5cm 35-40 Black... B07FSR2WKQ Parent , ZHRUI Court Shoe Q88-13 Woman PU Sandals Banquet 35-40 High heels 12cm high heel Black, Apricot B07FSRPDJ7 ParentZHRUI sandals Court Shoe Q688-15 woman personality fashion PU Rear zipper Bandages High heels Heel height 11.5cm... B07FSSVHZJ Parent
ZHRUI Court Shoe Q295-18 Woman Sexy Rhinestone Soft and Comfortable Sandals High heels 12cm high heel 35-40 Black... B07FSSZ98S Parent , ZHRUI Court Shoe W688-26 Woman Sandals Spring and Summer Fashion Personality High heels 35-40 12cm high heel Black B07FSTCFV9 ParentZHRUI Court Shoe A8-11 Woman PU Sandals Fashion Banquet Leisure Business High heels 12cm high heel Black B07FSTDBF2 Parent
ZHRUI Court Shoe E88-6 Woman Sandals Spring and Summer Fashion Personality High heels 35-40 12cm high heel Black B07FSTYTHN Parent , AGECC Sandals With High Heels And Sexy Women'S Shoes. B07FTH96VT ParentLYY.YY Women's Heeled Sandals High Heel Fine Belt With Gold Champagne Slipper Party Banquet Shoes Round Head Simple... B07FTHCVTW Parent
AGECC High Heeled Sandals With Small Rivets Buckles Simple Fashion Women'S Shoes B07FTLSZP2 Parent , AGECC High Heeled Shoes Women'S Lap And Thin Shoes Pointed Sandals. B07FTN9HQM Parent
AGECC Super High Heels 14Cm Waterproof Table Fine Mesh Gauze Fish Mouth Sandals Women'S Wedding Shoes. B07FTNSNCY Parent , AGECC Baotou Sandals Women'S Heels Korean Version New And Thin Fashionable Women'S Shoes. B07FTV4CPF Parent , HBDLH Women's shoes/Soft Bottom Pointed Shoes Shallow Mouth Shoes Summer Skin Rough Sandals Sandals. B07FTZ8MBR Parent , YMFIE Simple fashion ladies square heel patent leather pointed shallow high heels work shoes B07FXM1H3C ParentYMFIE Simple and elegant rhinestone suede stiletto fashion open toe high heel sandals high heels wedding shoes B07FXVFY9F Parent
YMFIE European summer ladies fine with pointed toe sling with high heel sandals high heels wedding shoes B07FXVM9P5 Parent , GTVERNH Comfort/women's shoes/Retro Sandals Summer Sports Sports Shoes For Women B07FXW3NR8 Parent
GTVERNH Comfort/women's shoes/Sandals Summer Leather Flat-Soled Women'S Shoes Roman Shoes Flat-Heeled Muffin Shoes... B07FXW3ZWB Parent , GTVERNH Comfort/women's shoes/Antique Sandals Women'S Shoes Summer Muffins Thick Bottom Slope And Leisure Sports B07FXWPP9S Parent
GTVERNH Comfort/women's shoes/Black And Sweet Buckles 12Cm High Heel Shoes Bow Tie Waterproof Sandals Women'S... B07FXWW9L9 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.