VulusValas Women Summer Thick Sole Mules Shoes B07C9YL8XD Parent , VulusValas Women Wedding Sandals Mules Shoes B07C9ZQL1P ParentDebenhams Multi-Coloured Leather 'Joelle' High Block Heel Ankle Strap Sandals B07CB1LS9T ParentJake Ladies 274244 Sandals in Black B07CB4R98X ParentSummer Days To Drill A Water Tide Student Flat Sleek And Versatile Ladies Sandals Sub B07CB8JVHL ParentEmily Bridal Ivory Wedding Shoes Peep Toe Rhinestones Buckle Detail Bridal Shoes Mother Shoes B07CB8XF4P Parent
YTTY Sequin Flat Sandals Bohemia Slippers Sandals Women's Fashion Beach Sandals B07CB8XM6F Parent , Coolcept Women Peep Toe Sandals Bootie B07CB9319R Parent
Rocket Dog Women's Lana Bang Fabric/Butter Pu Wedge Sandal B07CB98954 Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/The Summer Terrace and Slope of a Typeface... B07CB9N14T Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Europe, The United States Catch Satin high-Heeled... B07CB9N159 Parent , YTTY Fashion Women's Beach Slippers Three-Dimensional Rose Flower Sandals Slippers Thick Non-Slip B07CB9N73Q Parent , Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/in The Summer and Comfortable with Square and... B07CBB895V Parent , ZHANGRONG- Pregnant Women Sandals,Summer Sandals,Wearing Slippers,Women's Sandals,Outdoor Sandals,Fashion Sandals... B07CBB7NN2 ParentGAGLIANI RENZO Women's Fashion Sandals Red Red B07CBBHDLH ParentHeels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/Europe, The United States President Fish Fitting... B07CBBQ5JY ParentHeels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/in The Summer of Code with a fine Header Sandals... B07CBC5GVW Parent
Heels Sandals/Ankle Strap Sandals/Open Toe Sandals/Women’s Sandals/European and American Students with a Flat... B07CBC72ZC Parent , TAOFFEN Women's Cross Strap Sandals Shoes B07CBCPLVR ParentTheWhiteBrand Fuck Off M0135, Sandals B07CBJLKTW Parent
Andres Machado AM5230 Suede Bow Sandals.Petite&Large Sizes: UK 0.5 to 2.5 / EU 32 to 35 - UK 8 to 10.5 / EU 42... B07CBJPCPJ Parent , Rongzhi Womens Peep Toe Ankle Strap Stiletto High Heels Pumps Sexy Office Work Heeled Sandals B07CBJTB56 Parent , RAZAMAZA Women Sparkly Stiletto Sandal Shoes B07CBJT5PR Parent , weiwei Women's Summer Platform Sandals & Slippers, Fashion Rhinestones Sandals B07CBMH8TH Parent
weiwei Women's Summer Thick-Soled Sandals and Slippers, Summer Fashion Soft Breathable High Heels B07CBMLP8G Parent , Easemax Women's Trendy Mid Block Heeled Square Toe Slip on Daily Sandal Mules B07CBN29PN Parent , Thick Heel Sandals Women Summer Comfortable Med Heels Open Toe Fashion Pumps Shoes Woman Casual B07CBN3YW5 Parent
Sandals PU Womens Breathable Fish Mouth Slip-On Heels Summer Fashion B07CBNRC29 Parent , Emily Bridal Ivory Wedding Shoes Silk Peep Toe Butterfly Rhinestones Beaded Flat Sandals B07CBPPWZ1 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.