The Week That Was

WTW10022015

Concerns over the future of commodity trading and mining giant Glencore dominated the market at the beginning of the week, with the Company’s stock dropping nearly 30% on Monday itself. However, in what appears to be a case of over-pessimism, the stock closed down 2.3% for the week as it began its recovery in earnest on Tuesday.

Lingering commodity fears (and by extension China), disappointing U.S. non-farm payroll numbers, and revisions to prior month data (U.S. jobs and hourly earnings) slowed a market recovery which took hold on Tuesday (both the Dow and S&P 500 finished 1% higher on the week).  The fallout from the Volkswagen debacle and aforementioned economic and commodity weakness kept the European indices in the red save for London’s FTSE 100 which posted a modest rise of 0.34%

The French CAC 40 and Japanese NIkkei 225 remain the only two indices in the black on a year-to-date basis.

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