Marco Tozzi Women’s 28721 Wedge Heels Sandals B01MYPHFW3 ParentSlydes Chance Silver Women's Slider Sandals B079MDVCCL Parent
Aldo Women’s Cardross Heels Sandals B019XU9WNI Parent , New Look Women’s Fifi 5345440 Ankle Strap Sandals B071VPS57F ParentVan Dal Women’s Vivo Open-Toe Sandals B0752ZMVT8 ParentAlexis Leroy Comfortable Insole Buckle Strap Vamp Women’s Wedge Sandals B01NANK7N8 Parent
Crocs Women's Cleo III Slide Sandals B00401UX4S Parent , New Look Women’s Oiler 2 5596388 Open Toe Sandals B079ZNMLVQ Parent , Rondinaud Women’s Turia Open Toe Sandals B077NRDKQV Parent , Minorquines Women’s Avarca Berlin Velours Rose Open Toe Sandals B075ZSPTYK Parent
Angkorly Women's Fashion Shoes Sandals - Ankle Strap - t-Bar - Rhinestone - Pearl - Golden Wedge 3.5 cm B07B3XXQBY Parent , The Divine Factory Women’s Carolina Platform Sandals B077V2ZRTW Parent , Angkorly Women's Fashion Shoes Sandals Mules - t-Bar - Platform - Ankle Strap - Studded - Shiny - Cord Wedge Platform... B07B3Y2HP6 Parent , Angkorly Women's Fashion Shoes Sandals - Ankle Strap - Knot - Node - Fringe - Studded Block Heel 2.5 cm B07B3Y1CSC ParentAngkorly Women's Fashion Shoes Sandals Pump Court Shoes - Ankle Strap - Knot - node - Thong Block High Heel 7.5 cm B07B3Z2CCQ Parent
Angkorly Women's Fashion Shoes Sandals - Ankle Strap - Snakeskin - Multi Straps Wedge 2 cm B07B3Y3LCB Parent , Angkorly Women's Fashion Shoes Sandals - Folk - t-Bar - Rhinestone - Pom Pom - Fringe Wedge 1.5 cm B07B3Z64QZ Parent , Angkorly Women's Fashion Shoes Sandals Espadrilles - Ankle Strap - Platform - Studded - Pearl - Multi Straps Wedge... B07B3Z64QS Parent , Angkorly Women's Fashion Shoes Sandals Mules - Ankle Strap - Platform - Knot - node - Cord - Braided Wedge Platform... B07B411VN2 ParentAngkorly Women's Fashion Shoes Sandals Mules - Ankle Strap - Platform - Studded - Pearl - Cord Wedge Platform... B07B3ZKL9Y Parent
Angkorly Women's Fashion Shoes Sandals Pump Court Shoes - High - Open - Fancy/Chic - Rhinestone - Transparent... B07BLL3F2S Parent , Angkorly Women's Fashion Shoes Sandals - Gladiator - Ankle Strap - Multi Straps - Studded - Metallic Block Heel... B07B3ZWPCD Parent , Angkorly Women's Fashion Shoes Sandals - Ankle Strap - Gladiator - Buckle - Thong - Zip Block Heel 1.5 cm B07BLMJ3CS ParentBy Shoes Women's Fashion Sandals B07BH1YZ86 Parent
Angkorly Women's Fashion Shoes Sandals Pump Court Shoes - Stiletto - Ankle Strap - High - Fringe - Multi Straps... B07BLMT1K4 Parent , Angkorly Women's Fashion Shoes Sandals - Slip-On - Rhinestone - Shiny - Multi Straps Wedge 3 cm B07BLL7N52 Parent , KUONUO Women's Sandals Flats Fashion Summer Bohemia Beach Sandals Flip Flop Shoes B07C7F6H91 Parent , Angkorly Women's Fashion Shoes Sandals Flip-Flops - Slip-on - t-Bar - Rhinestone - Pearl - Elastic Wedge 3 cm B07BLMQJ1Q Parent , Angkorly Women's Fashion Shoes Sandals - Ankle Strap - Slip-on - Crossed Thongs - Elastic - Shiny Block Heel 2.5 cm B07C8QJ9X3 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.