Your Morning Fix

• US stocks rebounded on Tuesday amid a spate of quarterly earnings reports and signs of easing US-China trade tensions. Stocks climbed further in extended gtrade after President Donald Trump stepped back from his recent rhetoric against Federal Reserve Chair Jerome Powell.
• Tesla shares spiked to trade up 5.5% on CEO Elon Musk’s remarks that he would cut back “significantly” the time he devotes to the Trump administration beginning next month. The remarks came as deliveries of Tesla’s aging lineup of cars have nosedived.
• In its latest World Economic Outlook (WEO), the International Monetary Fund (IMF) cut its forecast for global growth for 2025 and 2026 to 2.8% and 3.0%, respectively, from its January forecast of 3.3% for both years. It also downgraded its growth forecast for the Philippines to 5.5% this year from 6.1% previously. Recent adjustments reflect heightened global uncertainty arising from US tariff policy.
• The National Capital Region’s (NCR) economic output expanded by 5.6% in 2024, the fastest pace in two years, according to the latest Philippine Statistics Authority (PSA) regional accounts data release.
• The Philippines has room to negotiate with the US to lower its reciprocal tariffs, Fitch Solutions’ unit BMI said. BMI said that the Philippines may increase energy and weapon imports, as well as lower levies on US goods.