Tumultuous Markets: Rising Optimism Amidst Political Drama

Global stock markets saw a modest rise as the dollar continued its decline, reflecting mixed investor reactions to the Senate's deliberation on President Trump's pivotal tax and spending bill. While European markets gained slightly, the contentious debate stirred uncertainty in the financial sector.

Tesla's stock saw a 5% drop in Frankfurt following President Trump's suggestion to reassess company subsidies, highlighting tensions between CEO Elon Musk and the administration. An analyst noted this political tension could exacerbate existing challenges faced by Tesla.

Meanwhile, market analysts kept a close watch on upcoming U.S. labor data, crucial for Federal Reserve rate projections. Despite Japan and China's resilient manufacturing indices, the broader outlook in Asia remains cautious due to persistent trade challenges.

(With inputs from agencies.)