Hi-Tec Women's Alto II Waterproof Low Rise Hiking Shoes Parent B012WLVI6O , Airtech Womens Shock Absorbing Running Shoes Trainers Ladies Gym Shoe Fitness Trainer Parent B00SMZ8HN2
Mizuno Crusader 8 Women's Running Shoes Parent B00I95Y77K , Moppi 10 Pcs Bike Bicycle Chain Master Link Joint Non O-ring Clips Parent B01KHX6DH8 , Women'S Heels Comfort Pu Summer Casual Walking Comfort Low Heel Green Black 1In-1 3/4In Parent B074L4RKPZ
Propét Women's TravelFit Walking Shoe Parent B01KNVLIUQ , YMFIE Summer women's fashion casual outdoor antiskid slippers and sandals Parent B07CBJNTMM
SHOESHAOGE The Girl Sandals High-Heel Women Shoes Sponge Cake Thick Shoes Waterproof, Rome. Parent B07CCM4WWZ , MINITOO GL222 Ladies Leopard Brown/Black Synthetic+Leather Latin Professional Dance Shoes Formal Party Evening... Parent B01MQ0CB4W
Man's/Woman's adidas Womens Alphabounce Parent B07657TVDT Good design auction British temperament , SHOESHAOGE Summer Word Dragged With Cool Slippers Fashion Rough Heel Outdoor Wear Sandals High Heel Women'S Shoes Parent B0753LYPF2
Xue Qiqi Court shoes Low-heeled work shoes female black flat soft bottom round shoes women shoes shoes professional... Parent B07DWD6J61 , LvYuan Women's Summer Slippers / Comfort Casual Fashion / Sequins / platforms / sandals / beach shoes Parent B072NZSLDW
CFP JJ-7026 Womens Latin Tango Ballroom Dance Party wedding Peep-toe PU Dance-shoes Parent B016ZW95F2 , Tamaris Women’'s 23709 Low-Top Sneakers Parent B078GXVYPJ , #Vans Classic Platform Black White Check Womens Slip-On Trainers Parent B07G15VK8Q , NGRDX&G Women'S Espadrilles Casual Shoes Women Hot Printing Breathable Mesh Platform Shoes Women Parent B07D7W86G3 , Ash Women’s As-Lighting Star Sneaker Parent B0757G1MV6
adidas Womens Originals Superstar Glossy Toe Trainers in Tech Steel Parent B076VMWS94 , PhilMat 10 Pcs Bike Bicycle Chain Master Link Joint Non O-ring Clips Parent B01HIKVZ6M , Zenzzle Womens Running Shoes Small Starts Rocket Pattern Print on for Ladies Outdoor Running Sneakers Parent B07CR4RFMV , Hogan Women's Trainers Beige Beige Parent B07DCR595N , Smilun Lady's Classic Derby Ankle Boot Suede and Smooth PU-Leather Shoes Round Toe Parent B01M3OGX44 , Flojos Women’s Peacock Walking Shoe, Grey Parent B015XDETAU , WXMDDN Female Modern Dance Shoes Brown Dancing Shoes Female Adult 5cm High Heel Indoor Dance Shoes Soft Soles... Parent B077R38PV1 , ShangYi Women's Girl's Sandals Salsa / Samba/Latin Dance Shoes Satin / Sparkling Glitter Customized Heel (More... Parent B01G1G9G6U , Zenzzle flip-Flops Pattern Women's Running Shoes Casual Lightweight Athletic Sneakers US Size 36-45 Parent B0785ZXRG1Salabobo AQQ-6191 Womens Wedding Party Tango Peep Toe Mid Heel Satin Rhinestone Dance Shoes Parent B01NALHPPJ
Zenzzle Womens Running Shoes Colorful Small Flowers Pattern Print on for Ladies Outdoor Running Sneakers Parent B07CG4RLJB ,
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.