BalaMasa Ladies Assorted Color Graffiti Pattern Imitated Leather Pumps-Shoes B01FPEL2K2 Parent , AllhqFashion Women's Pointed Closed Toe High Heels Solid Buckle Pumps Shoes B01FQL149S ParentAllhqFashion Women's Spikes Stilettos Soft Material Solid Buckle Pointed Closed Toe Pumps Shoes B01FQNYFEC Parent
AllhqFashion Women's Round Closed Toe Low Heels Buckle Solid Pumps Shoes B01FQO03QK Parent , AllhqFashion Women's Soft Material Buckle Pointed Closed Toe High Heels Solid Pumps Shoes B01FVTV5SK Parent
Unlisted by Kenneth Cole Womens Real Action 2 Open Toe Ankle Strap D-Orsay Pu. B01G4HU1QK Parent , AllhqFashion Women's Pointed Closed Toe Kitten Heels Solid Buckle Pumps Shoes B01FVTYG1S Parent , BalaMasa Womens Electroplate Heel Pull-on Gold Sequins Pumps-Shoes - 7 UK B01G4NXEA4 Parent , AllhqFashion Women's Pu Solid Buckle Pointed Closed Toe Kitten Heels Pumps Shoes B01G5DVIE2 ParentAllhqFashion Women's Frosted Pointed Closed Toe Kitten Heels Buckle Solid Pumps Shoes B01G87KCK6 ParentAgooLar Women's Pointed Closed Toe Spikes Stilettos Pull On Solid Pumps Shoes B01GNMOP3Q Parent18 KT Courts Woman Black/White / Red White Textile (36 EU, White) B01GQK46DO ParentGentleman/Lady Tamaris Women's Peep-Toe B01GRJ99IG Parent New varieties are launched Lush design Cost-effective18 KT Courts Woman Silver chiaro/Silver Glitter Patent Leather (36 EU, Silver chiaro/Black) B01GVC38NG Parent
18 KT Courts Woman Silver chiaro/Silver Glitter Patent Leather (38 EU, Silver chiaro/Black) B01GVBPS6W Parent , AgooLar Women's Buckle Spikes Stilettos Imitated Suede Solid Round Closed Toe Pumps Shoes B01GY2WHSK Parent , AgooLar Women's Low Heels Solid Buckle Round Closed Toe Pumps Shoes B01GY2WEVK Parent
Nina Women's Fanetta Platform Sandal B01GY4WJ5Y Parent , AllhqFashion Women's Frosted Pull On Round Closed Toe Kitten Heels Assorted Color Pumps Shoes B01GYNW3O2 Parent , AllhqFashion Women's Patent Leather Square Closed Toe High Heels Buckle Solid Pumps Shoes B01GYNXYUY Parent , AllhqFashion Women's Pu Solid Pull On Pointed Closed Toe Low Heels Pumps Shoes B01GYNX62A Parent
AllhqFashion Women's Solid Pu High Heels Pointed Closed Toe Buckle Pumps-Shoes B01GYNZBKK Parent , AllhqFashion Women's Assorted Color Buckle Pointed Closed Toe Spikes Stilettos Pumps Shoes B01GYNXZLC Parent , AllhqFashion Women's Round Closed Toe High Heels Soft Material Solid Buckle Pumps Shoes B01GYNZY3Y ParentAllhqFashion Women's Buckle Spikes Stilettos Pu Solid Pointed Closed Toe Pumps Shoes B01GYNZT0W ParentAllhqFashion Women's Pointed Closed Toe Kitten Heels Buckle Solid Pumps Shoes B01GYO08UC Parent
AllhqFashion Women's Pointed Closed Toe Spikes Stilettos Zipper Assorted Color Pumps Shoes B01GYNZXJE Parent , AllhqFashion Women's Solid Pu High Heels Round Closed Toe Zipper Pumps Shoes B01H01E2FU ParentAllhqFashion Women's Pu Solid Buckle Pointed Closed Toe Spikes Stilettos Pumps Shoes B01GYO043S 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.