Women's Fish Mouth Ankle Straps Open Toe Sandals Wood Grain Wedge Heels High Day Length Dress Shoes (Heel Height... B07G4KL384 ParentLady's Transparent Buckle Open Toe Sandals Roman Personality Gladiator High Heels Travel Beach Shoes (Heel Height... B07G4R8437 Parent
LYY.YY Women's Transparent Open-Toe Sandals with Buckled Gladiator Stiletto Banquet Evening Dress Shoes (Heel... B07G4RQCFK Parent , JIANXIN Summer Sandals Female Low Heel Flat Bottom Students Sandals Wild Beach Sandals Toe Sandals Women Shoes... B07G59LC7P ParentLFF.FF Women's Pointed Open Toe Fine With Buckle Sandals Word Band Nightclub Shoes Banquet Shoes Large Size (Heel... B07G59VL9F Parent
LFF.FF Women's Fish Mouth Open Toe Sexy Fine With Sandals Waterproof Platform Bow Tie Banquet Shoes Mueller Shoes... B07G5CVBVK Parent , LFF.FF Women's Pointed Open Toe Rhinestone Sandals Waterproof Platform Slim High Heel Rear Zipper Dinner Shoes... B07G5CWT5Q Parent , LFF.FF Women's Pointed Open Toe Tassel Sandals Word Band Beach Shoes Flat Shoes Casual Large Size (Heel Height... B07G5FKYFW Parent , LFF.FF Women's Fish Mouth Fine Backspace Sandals Sandals Increase Sexy Nightclub Shoes Banquet Shoes Large Size... B07G5F5HS4 ParentJIANXIN Square Head With Set Foot Mules Shoes Baotou Slippers Shallow Mouth Medium With Half Slippers Fashion... B07G5NJDZ4 Parent
JIANXIN Rivet Sandals Female Summer Flat Bohemian Ribbon National Style Holiday Beach Roman Shoes (Color : BROWN... B07G5HN9DG Parent , JIANXIN Sequins Flat Fisherman Shoes Women's Shoes Love Shoes Thick-soled Platform Shoes Shallow Mouth Sets Foot... B07G5L2MVD Parent
JIANXIN Baotou Sandals Female Xia Pingdi Pearl Outerwear Lazy People Half Slippers Two Wear Flat Heels Pointed... B07G5J8L6C Parent , JIANXIN Flat Sandals Women Summer Pearl Buttoned Toe Fairy Shoes Flat Heel Vacation Slippers (Size : EU 38/US... B07G5J3GL1 Parent , JIANXIN Summer Sweet Leather Shoes Square Root Buckle Rhinestone Bow Low Heel Sandals (Color : White, Size : EU... B07G5LL7JC ParentJIANXIN Embroidery Baotou No Heels Lazy Shoes Women's Shoes No Mules Shoes Thick Sole Shoes Platform Shoes Spring... B07G5NJDYW ParentLFF.FF Women's Pointed Fine Rivet Buckle Sandals High Heel Luhe Sexy Banquet Shoes Nightclub Shoes Wedding Shoes... B07G5NV8SW ParentLYY.YY Women's Metal Open Toe Sandals Waterproof Platform Cross Strap Buckle High Heel Banquet Evening Dress Shoes... B07G5RWW9F Parent
LYY.YY Women's Fishmouth Open Toe Single Sandals Wedges Waterproof Buckle Shoes Day Long Dress Sandals (Heel Height... B07G5XMZMP Parent , LYY.YY Women's Round Toe Toe Beach Sandals Cross Straps Bow Metal Thick with Women's Sandals Day Long Wearing... B07G5XJVKH Parent , LFF.FF Women's Pointed Open Toe Hollow Fine With Sandals Foot Straps Overheight With Sexy Ankle Boots Banquet... B07G8VW17T Parent , GTVERNH Women's shoes/fashion/Baotou Sandals Sequins Drill Buckles Pointed Shoes Slender Women'S Shoes And High... B07G61ZFF9 Parent , LFF.FF Women's Pointed Open Toe Sandals Fine With Sanding Leather Overheight With Banquet Shoes Nightclub Shoes... B07G8WHZ7M ParentLFF.FF Women's Fish Mouth Open Toe Slope Sandals Waterproof Platform Nightclub Shoes Banquet Shoes Hate High Large... B07G8TMLDM Parent
Women's Transparent Roman Open Toe Sandals Straps Rhinestones Five-Star High-Heeled Fashion Sandals Party Shoes... B07G663YNS Parent , LFF.FF Women's Pointed Open Toe Fine With Increase Patent Leather Sandals Rear Zipper Word Band Nightclub Shoes... B07G8W5JFG ParentLFF.FF Women's Round Head Sandals Word Band Waterproof Platform Foot Straps Wood Grain Slope Hate High Nightclub... B07GBPJKZG Parent
LFF.FF Women's Pointed Open Toe Fine With Backspace Overheight With Sandals Flip Flop Mueller Shoes Banquet Shoes... B07G8XR6T3 Parent , Women's Pointed Open Toe Hollow Fine With Overheight With Sandals Sexy Net Ankle Boots Banquet Shoes Nightclub... B07G9X72V3 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.