The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter and activity was broad-based, in a bullish signal for the remainder of the year. The Commerce Department on Friday raised its estimate of gross domestic product to show the economy expanded at a 4.6 percent annual rate.
Growth in China's manufacturing sector probably steadied in September as factory orders held up, providing some welcome relief for those who worry the Chinese economy is quickly losing steam. The official manufacturing Purchasing Managers' Index (PMI) likely edged up slightly to 51.2 in September compared with August's 51.1, leaving it comfortably above the 50-point level demarcating an expansion from a contraction on a monthly basis.
In a huge sentiment booster for India, S&P on Friday revised India's credit outlook up to 'stable' from 'negative'. While the agency maintained India's rating at BBB-, the revision in outlook will serve to be a positive for India.