Up against the debt-ceiling deadline of 17 October, the US Congress ended its 16-day government shutdown and extended the country's ability to borrow. However, the standoff hurt millions of people and was costly to businesses and the economy in general. Fitch placed the US credit rating on a negative watch, and Standard & Poor's reported that the overall economic slowdown lowered the country's fourth-quarter gross domestic product by an estimated 0.6%, or US $24 bn. Economic uncertainty is expected to persist, as the US government will be financed only until 15 January, 2014 with the debt ceiling issue to be revisited on 7 February, 2014. The US market ended the week up 1.1%.

The Eurozone showed more signs of having emerged from recession, with stronger-than-expected industrial production in August. Output grew 1.0% in August after a 1.0% drop in July. Economists had forecast a 0.8% growth in output for the month. Output grew in four of the region's five largest economies. However, industrial production declined 2.1% from a year earlier.

China's economy grew at its quickest pace this year, expanding by 7.8% in the third quarter from a year earlier. GDP growth accelerated slightly from the 7.7% and 7.5% pace of the first and second quarter, respectively. Economists expect China's economic growth to subside in the fourth quarter, as export data in September indicated a decline in global demand. Despite upbeat data, the Chinese markets ended the week down 1.5%.

BSE-Sensex was among the top gainers among the various global markets. The Indian stock market closed up 1.7% for the week gone by. The week for Indian markets started on the negative note. High inflation, doubts over US debt ceiling and the downward revision of GDP growth estimates by IMF and World Bank played on investors mind. But markets recovered over the course of the week after the US uncertainty ended and strong data from China came out.