GAOLIM Slotted Strap Sandals Girls Summer Thin Flat Bottom Shoes Dew-Thick Sponge Cake Sandals Female B07CJPPCKF ParentGAOLIM Baotou Sandals Female Students In The Summer With A Flat Base Leisure Wild Exposed Women Shoes B07CJPJRVV Parent
GAOLIM Sandals Female Summer Slotted Fasteners With Students In The Dew-Toe Shoes With Bold High Heels B07CJR7DHZ Parent , GAOLIM Sandals Female Summer Light The Tip Of A Ground Strap Late Nights Single Shoes With Flat With Shoes. B07CJPSZQQ Parent , GAOLIM The Girl In The Summer Sandals With Thick With Black Students And Versatile Dew-Slotted With The High-Heel... B07CJVLMD9 ParentGAOLIM In Spring And Summer With The Tip Of The High-Heel Shoes Single Shoes Women Flat With Heavy And Hollow... B07CJR7DJJ ParentGAOLIM Slotted Strap Sandals Women Shoes Student Summer Thick Sponge Cake Beach Shoes B07CJVZCWF ParentGAOLIM Square Head Sandals Female Summer School Bow Tie Slotted Tie With Single Shoes Wild Dew-Toe High-Heel Shoes B07CJV626S Parent
GAOLIM Sandals Female Summer Slotted Fasteners With Sandals In The Dew-Heavy With Students In High-Heeled Shoes B07CJWNZNM Parent , GAOLIM Slotted For Summer Sandals Women Shoes Flat Bottom Fine Dew-Thick Pine Cake Shoes B07CJVZCX2 ParentGAOLIM Summer Sandals Women Flat-Bottomed Thick Wild Students Slotted Strap Shoes B07CJX3CT4 Parent
GAOLIM Summer Sandals Women Flat Bottom Slope With Students From The Upper Slotted Tie Fairies Shoes Wild B07CJWZSKS Parent , GAOLIM In The Summer, Wear Sandals Women Flat-Bottomed Sandals Women In Summer With Wild Field With Beach Shoes B07CJXG4KQ Parent
GAOLIM Sandals Female Summer Thick Strap-Su Student Fairies Sandals Women Shoes B07CJXG4JR Parent , GAOLIM Children Summer Shoes And Sandals Hollow Baotou Bold Girl Tip Tie Clip, Single Word High-Heeled Shoes B07CJXHPYN Parent
GAOLIM Baotou Female Sandals With Thick With Students In High-Heeled Slotted Tie Beaded Fairies Shoes B07CJY8CLG Parent , GAOLIM Sandals Female Summer Soft Sister Flat Base Simple Student Sponge Cake And Versatile A Shoe Two Wear Cool... B07CJXHPYP Parent , GAOLIM Thick Sponge Cake Sandals Female Summer Wild Slotted Fasteners Lounge Terrace And Increase Women'S Shoes B07CJY8CLN Parent
GAOLIM Summer Coarse And Casual And Versatile High-Heel Shoes Slotted Fasteners, Dew-Toe, With Sandals Female B07CJY8CLL Parent , GAOLIM Children Shoes Summer Tip Hollow Single Shoes Baotou Slotted For Bold And Sandals Lady Girls High Heels B07CJYL6ZV Parent , GAOLIM Single Shoes Female Rough With Square Head High-Heel Shoes Flat Footwear, And Baotou Sandals Female B07CJY8CMD ParentGAOLIM The Small Square In The Summer Of Irregular Shoe-Slotted Strap Hollow Baotou High-Heeled Sandals Female... B07CKTV3X8 Parent
YWNC Ladies High Heels Rough Heel Party Rhinestones Square Head Stitching Multicolor Large Size Shoes B07CKN33X2 Parent , GAOLIM Trendy And Versatile Sandals Women Summer Comfort With A Slotted For Thick With High-Heeled Shoes B07CKVKVBG Parent , GAOLIM Summer Sandals Women Flat Base And Versatile Minimalist Flat With Students Velcro Sponge Cake Thick Shoes B07CKW13QS ParentGAOLIM Single Shoes Female With The Word In Bold With The Strap Beaded Light-Shoes Student Round Head And Versatile... B07CKW1TDY ParentGAOLIM The Spring And Summer The Frosted Tip Light-Strap Hollow Baotou Sandals Female Shoes In The Summer With... B07CKWM4N2 Parent
GAOLIM Single Women In The Spring Shoes Thick With High-Heeled Shoes Tip Wild Slotted Strap Light Of Women'S Shoes B07CKWM4NJ Parent , GAOLIM Baotou Sandals Female Summer Flat-Bottomed Thick With Slotted For Women Shoes Student Hollow Single Shoes B07CKWMFRK 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.