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.