MINITOO Ladies TH054 Crystals T-Strap Blue Satin Wedding Ballroom Latin Taogo Dance Sandals 7.5 UK Parent B01CX4X9D0
MINITOO Ladies TH054 Crystals T-Strap Blue Satin Wedding Ballroom Latin Taogo Dance Sandals 3.5 UK Parent B01CX4ZRH6 , Manadlian Women's Sandals Women Summer Sandals Shoes Low Shoes Roman Boho Sandals Ladies Flip Flops Parent B073VHFX22
PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 7 B(M) US Parent B071GZ3ZQL , PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 6.5 B(M) US Parent B071KL3RXLPUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 8.5 B(M) US Parent B0721Y7ZVQ
PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 7.5 B(M) US Parent B072KSB7TG , PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 9 B(M) US Parent B072KSKRPC , PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 6 B(M) US Parent B072NC8LDG
PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 8 B(M) US Parent B072ND86B9 , PUMA Women's FENTY x PUMA High Top Trainer Sneakers, Sesame, 9.5 B(M) US Parent B0733CWD5M
BTBTAV Lady'S Summer Outdoor Skid With Flat Bottomed Slippers European Code (37) Black Parent B07DLVM2ZB , Zerimar Elevator Shoes for Women Add +2.8 in | Women's Height Increasing Shoes | Shoes That Increase Your Height... Parent B01KK96AMM , Skechers Valeris Mai Tai, Women's Multisport Outdoor Shoes Parent B014GN9SPO , Skechers Mai Tai Athletic Shoes Parent B014GN9YUI
SWDZM Women Dance Shoes/Standard Latin/Ballroom Model-LP217 Parent B07FFRBTWB , Under Armour Women’s Ua W Charged Bandit 3 Ombre Training Shoes, Black/Charcoal Parent B071F2CCJF , Zenzzle Exotic Dream Catchers Pattern Print on Women's Running Shoes Casual Lightweight Athletic Sneakers US Size... Parent B07861CD3T
Agsdon Women's and Girl's Canvas Slip-On Shake Shoes Parent B074C7QDRB , Zenzzle Retro Chevrons Pattern Women's Running Shoes Casual Lightweight Athletic Sneakers US Size 6-15 Parent B078DF7LX7
RUGAI-UE Sandals Women Thick Soles Bottom Flat Wear Fashion Comfort Beach Shoes Parent B073WSV74Y , MINITOO Ladies Printed Mesh Nude Synthetic Latin Salsa Dance Sandals Formal Party Shoes UK 6.5 Parent B07DW9QJ4R
MINITOO Ladies Printed Mesh Nude Synthetic Latin Salsa Dance Sandals Formal Party Shoes UK 3 Parent B07DWCMLR8 , Blivener Women Woven Light Weight Elastic Trainer Comfort Slip On Sport Water Shoes Parent B01NANW3XJ , Minitoo Ladies Printed Mesh Synthetic Latin Salsa Dance Sandals Formal Party Shoes Parent B07DW5ZZ3TNew Balance 2017 Womens Fresh Foam 1080v7 Trainers - Arctic/Berry - UK 3 Parent B01NB9NN8ST.T-Q Flower Ballroom Dancing Shoes For Women Girls Adult Rhinestone Suede Soft Sole Dance Black Red Latin Sandals... Parent B07DJC4N81
Altra A2233 Women's Intuition 1.5 Running Shoes Parent B0093ZZXRI , Zenzzle Womens Running Shoes Christmas Pattern Print for Laides Outdoor Sneakers Parent B07CQZ1ZCM
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.