Your Morning Fix

• US building permits and housing starts declined 0.6% and 3.1% month-on-month, respectively, equivalent to a decline of 7.7% and 4.0% year-on-year due to hurricane disruptions.
• The Dow Jones fell 0.28% to 43,268.94, the S&P 500 rose 0.40% to 5,916.98, and the Nasdaq Composite rose 1.04% to 18,987.47 as markets waited for Trump to make more cabinet appointments.
• The International Monetary Fund (IMF) warned that retaliatory tariffs could affect Asia’s economic prospects, disrupt supply chains, and reignite inflation amid Trump’s plan to impose higher tariffs on non-US goods.
• Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. said on Tuesday to expect more interest rate cuts at the upcoming meetings this year and the next amid slower Q3 growth.
• According to Sugar Regulatory Administrator Luis Azcona, raw and refined sugar are currently 35-37% below the levels recorded in 2023, denying claims of oversupply of sugar which has been blamed for a decline in millgate prices.