GTVERNH Spring And Summer Low Help Feet Knitting Color Matching Casual Shoes Sports Women'S Shoes. B07CZ4SPYX Parent , HGTYU Spring Slotted 8Cm High Heels Shoes Broken Down By That Point Stylish And Versatile Women Shoes Small Leather... B07CZX7GCB Parent
HGTYU Flat Footwear Spring And Summer Female Soft Bottom Leisure Wild Single Shoes Laziness One Foot Step B07CZXRGNY Parent , HGTYU The Increase In Female Spring Wild Students Sponge Cake Thick Tie And Shoes B07CZXFP7W ParentHGTYU Flat Base Sandals Summer Students With The Comfort And Retro Soft-Mei Female Shoes B07CZYRPJ5 Parent
HGTYU The Spring And Summer Thick Sponge Cake Shoes Leisure And Versatile With The Rising Slope Rivets 10Cm High-Heeled... B07CZXRJCZ Parent , Women's Sneakers Casual Shoes 2018 Spring and Summer Round Flat Low-Cut Shoes Color-Blocking Deep Casual Shoes... B07D1VTGZH Parent , SFSYDDY-Gauze Drill Rough Heel Cool Slippers Summer Women'S Shoes Breathable Baotou Heel Slippers. B07D1W823V ParentSFSYDDY-Rough Heels Cool Slippers Summer Women'S Shoes Buckles Middle Heels Slippers. B07D1VXPG5 ParentWomen's Sneakers Casual Shoes 2018 Spring, Summer，Fall Thick Bottom Sports Shoes Fashion Mesh Sports Shoes Ladies... B07D36V4H3 Parent
SFSYDDY-Thick Cool Slippers Summer Women'S Shoes Baotou Middle And Cool Slippers. B07D1WB7HG Parent , HGTYU In The Summer Of Baotou Semi-Slippers Female Wear And Versatile Followed By The Lazy Bones Shoes Flat Base... B07D1X1DJP Parent , HGTYU Spring And Summer Single Shoes Women Shoes Light Small Leather Shoes And To That Point Low-Like Shoes B07D1X7JG1 ParentWFL Summer leather white shoes female flat shallow breathable shoes spring wild white shoes summer B07D3P5NSQ Parent
HGTYU The Girl Sandals Water In The Drill And That Women'S Shoes With Bold Crystal Rome Ronald Stylish Dew-Toe... B07D1XD7WR Parent , HBDLH Thick Female Thick Bottom Waterproof Platform Fish Mouth 7Cm High Heel Shoes Summer Outside Wear Cave Slippers. B07D22135P Parent , HBDLH In The Spring And Autumn Season Waterproof Platform Autumn Shoes 6Cm High Heels Thick Heels Single Shoes... B07D216NQ5 Parent , KPHY Inside Height Women'S Shoes Joker Sponge Cake Shoes Leisure Thick Bottom Waterproof Platform Slope Heel Single... B07D3JPR5J Parent
HBDLH Shoes Ladies Spring 6Cm High Heel Shoes Rough Heels Middle Heels Jokes Pointed Shoes Casual Shoes Women'S... B07D21MQFT Parent , HBDLH Spring Netting Sexy 6Cm High Heel Rough Heel Back Zipper Women'S Shoes Elegant Willow Nail Single Shoe Boots. B07D21RNZ7 Parent , HBDLH In Autumn Pointed Shoes 8Cm High Heels Hasps Women'S Shoes Thick Heels Single Shoes Side Zippers Deep Mouth... B07D21VKFL Parent
GAOLIM Single Shoes High Heels Tip Single Shoes Shallow Mouth Girl Fine With High-Heel Shoes Round Tie Solid Color... B07D3TJVZG Parent , HBDLH All Walks Of Life Spring Shoes Waterproof Platform Autumn 12Cm High Heel Thin Heel Pointed Single Shoes... B07D21WX66 Parent , Women's Sneakers Casual Shoes 2018 Spring New Style Leather Shoes Fashion Platform Casual Shoes Ladies Casual... B07D35FBTR ParentHBDLH Cool Slippers Summer Women'S Shoes Joker Sandals Metal Buttons Slope Heels Slippers. B07D2291Z7 Parent
Women's Sneakers Casual Shoes Spring And Fall Spring And Fall New Colorblock Matching Leather Women Shoes Ladies... B07D362BFN Parent , HGTYU The Spring And Summer Exposed Breathable The Rising Sponge Cake Thick Shoes Belts Shoes 10Cm High With The... B07D1XGF85 Parent
Women's Casual Shoes, Fitness Shake Shoes Soft Breathable Mesh Shoes Ladies Lightweight Slip On Height-Increasing... B07D376DFG Parent , KPHY Spring Sharp Pointed Shallow Mouth Women'S Shoes Thin Heel Waterproof Platform Single Shoe 7Cm High Heel... B07D3JV3XJ 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.