XZGC Sandals Female Clip Toe Flat Floor Student Lounge Has A Non-Slip Sand Beaded Shoes,5 UK, Brown B07BT2VK4Y ParentSummer High Heels Sexy Dew-Toe Sandals Slotted For Women Shoes,3 UK, Black B07BT2Y6SY Parent
XZGC Sandals Female Clip Toe Flat Floor Student Lounge Has A Non-Slip Sand Beaded Shoes,5 UK, Black B07BT2Y1NJ Parent , Sandals Female Simple Low-Students With A Non-Slip Beach Shoes,6 UK,Black B07BT2YKKQ Parent , XZGC A Slope With Sandals Female Dew-Beaded Beach Shoes,3.5 UK,Black B07BT31P1D Parent , XZGC Sandals Female A Terrace and A Flat Base Student Beach Beaded Shoes,3 UK,Light Brown B07BT3596X Parent , XZGC Beach Shoes Comfortable Soft Bottom Clip Toe Flat Elastic Band of,7.5 UK, Tourist Sandals Black B07BT35973 Parent , Sandals Female Summer Water Drill Flat Bottom Clip Pin Student Ethnic Style Retro Beach Shoes,3 UK,Pink B07BT3597Q ParentSandals Female Summer Butterfly Water Drilling Anti-Slip Comfort Grip Toe Shoes Beach Oceanfront,6 UK, Gold B07BT366KM Parent
Sandals Casual Stylish Beaded Ethnic Style Clip-Toe Shoes Female,4 UK,Black B07BT3BV8J Parent , XZGC Beach Shoes Female Slippers Sea Border Slide Clip Pin to Field A Drag and,3.5 UK,The Red B07BT3CNZC Parent
XZGC Sandals Female Simple Low-Students With A Non-Slip Beach Shoes,7.5 UK,The Blue B07BT3CV24 Parent , XZGC Sandals Female Summer Water Drill Flat Bottom Clip Pin Student Ethnic Style Retro Beach Shoes,7.5 UK,Pink B07BT3CW47 Parent , Beach Shoes Female Water Drill Flat Bottom Slope With Stylish Clip Toe Sandals,6.5 UK, Black Sea Resort B07BT3FKR6 Parent , Sandals Female Simple Low-Students With A Non-Slip Beach Shoes,6.5 UK,Pink B07BT3FYN2 Parent , XZGC Summer Sandals Women Flat Strap Clip Toe Shoes Word,3 UK, Light B07BT3G371 Parent , XZGC Beach Shoes Water Drill Chuck and Casual Beachfront Resort,7.5 UK, Black Women's Shoes B07BT3G37B Parent , XZGC Elegant Gemstone Water Drill Clip Toe Sandals Slope With The Tightening Strap Non-Slip Shoes Female,4 UK,... B07BT3HM36 ParentXZGC Beach Shoes Female Slippers Sea Border Slide Clip Pin to Field A Drag and,3 UK,The Blue B07BT3HN7Y Parent
XZGC Beach Shoes Water Drill Chuck and Casual Beachfront Resort,8 UK, Black Women's Shoes B07BT3HN85 Parent , XZGC Sandals Female A Terrace and A Flat Base Student Beach Beaded Shoes,3.5 UK,Light Brown B07BT3HSWG Parent
XZGC Beach Shoes Female Water Drill Flat Bottom Slope With Stylish Clip Toe Sandals,3 UK, Black Sea Resort B07BT3J9TK Parent , XZGC Water Drill Pearl Girls Sandals Flat With Clip Toe Word,4 UK, Golden Beach Shoes B07BT3JH1R Parent
XZGC Sandals Female A Comfortable and Relaxing Holiday Beach Shoes,6 UK,Silver B07BT3LLPN Parent , Sandals Casual Stylish Beaded Ethnic Style Clip-Toe Shoes Female,3 UK,Dark Blue B07BT3LLQD Parent
Sandals Female Summer Water Drill Flat Bottom Clip Pin Student Ethnic Style Retro Beach Shoes,3.5 UK,Black B07BT3M49T Parent , XZGC Beach Shoes Female Water Drill Flat Bottom Slope With Stylish Clip Toe Sandals,3 UK, Golden Beach Resort B07BT3M7VL ParentXZGC A Slope With Sandals Female Dew-Beaded Beach Shoes,3.5 UK,Light Brown B07BT3M9BV ParentXZGC Sandals Female Simple Low-Students With A Non-Slip Beach Shoes,7.5 UK,Light Brown B07BT3NGSR 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.