Sandals ZHIRONG Summer Rhinestone Weaving Open Toe Elastic Band Set Foot Slope Bohemia Beach Shoes (Color : Black... B07CDW956K Parent , GAOLIXIA Women's High Heels PU Belt Buckle Color Matching Party & Joker Casual Sandals Cozy Casual Shoes Beige... B07CF7F5VZ Parent , yalanshop High-heeled sandals summer stars pearl high-heeled casual thick with high-heeled buckle silk satin sandals... B07CCNBMY8 ParentGAOLIXIA Couple Shoes Men Women's Leather Slipper Ladies Summer Leather Slip-ONS Womens Flat Sandals Slipper Summer... B07CF7TS75 ParentGAOLIXIA Women's Shoes Summer Club Shoes Sandals Chunky Heel Rhinestone For Casual Dress Party Evening Gold Silver... B07CDQR55H Parent
MHX Women's Shoes New Sandals Fish Sequins Waterproof Platform With High-heeled B07CG2ZC68 Parent , Huaishu Women's Shoes Summer Tassel Fine With High-heeled Shoes Buckle Sandal Temperament Open Toe Fashion Shoes... B07CG2H5KY Parent , Angrousobiu Flowers sandals female Bohemia large code base with a flat base and comfortable soft grip and beach... B07CGD4YTV Parent , Angrousobiu The water drilling sandals female summer Bohemia insert drill and versatile small hill with a large... B07CGGNZPZ Parent , Ladies Women Open Toe Thong Sandals Summer Flip Flop Ankle Strap Flat Wading Shoes B07CGSS6WF ParentAngrousobiu The set-toe sandals summer retro light with a flat base students wild soft bottom beach tourist women... B07CGGYWHT Parent
Sandals XW Slippers Female Summer Fashion Sweet Flowers Anti-skid Beach Shoes Platform Slope Heel Slippers for... B07CG8HNNG Parent , TMKOO Summer ladies high heels, elegant sexy high heels fashion women sandals work shoes beach shoes party shoes... B07CGTN7T4 Parent , TMKOO Women Fashion High Heel Sandals Elegant Sexy High Heels Breathable High Heels Beach Shoes Party Shoes (Black... B07CGT3W1B Parent , TMKOO Summer sandals, stylish thin high-heeled shoes 11CM elegant sexy party shoes work shoes sandals breathable... B07CJPXL4K Parent
Angrousobiu Bohemia girl sets toe sandals beaded flat footwear resort beach big, Roman women shoes B07CGJQWB1 Parent , Tip thick with high-heeled shoes and versatile Baotou spell color female sandals B07CGX6NPF ParentAngrousobiu The two opposing dew-toe flat sandals female summer students summer simple and versatile slotted cool... B07CGP8DMG Parent
Women's Summer Clip Toe Sandals | Women's Sandal Women's system with Single Shoes | Round Head embroidery cloth... B07CHXX1HX Parent , Wild strap women shoes Baotou high-heeled sandals with the size of the bold Code B07CGRCQQQ Parent
Women's Summer Clip Toe Sandals | Women's Sandal Students canvas shoes low round head thick with ventilation system... B07CGKP1VD Parent , JING Female sandals Waterproof platform sandals thick with ultra-high and dew-toe women's shoes B07CGTYVJN Parent , TMKOO 2018 Summer High Heel Sandals Elegant Sexy High Heel Women Roman Shoes Fashion Casual Shoes Sexy Party Shoes... B07CGVDP25 ParentTMKOO 2018 Summer New Women High Heels Roman Sandals Open Toe High Heels Comfortable Breathable Casual Shoes Sexy... B07CGVXXZ6 Parent
Women's Summer Clip Toe Sandals | Women's Sandal Stylish Women's women's shoes | strap bow tie big code women... B07CG2QKCB Parent , Women Ladies Sandals Open toe Thong Summer Outdoor Flip flops Bohemia T-shaped buckle Roman Flat heel Wading Shoes B07CHQPWLS Parent , Ladies Women Sandals Open Toe Thong Summer Outdoor Flip flops Ankle T buckle Strap Flat heel Wading Shoes B07CHSHDC9 Parent , Women's Summer Clip Toe Sandals | Women's Sandal President flat footwear | Ping to clamp the two foot wear shoes... B07CHVHWBY Parent , TMKOO 2018 New Women's High Heels Sexy Patent Leather Hollow Sandals 10cm High Heels Open Toe Sandals Party Shoes... B07CKQFTZK 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.