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Wednesday, November 05, 2025
What’s happening: Shares of Advanced Micro Devices (AMD) fell in after-hours trading on Tuesday following the release of the company’s third-quarter results.
What happened: The chipmaker reported better-than-expected sales and earnings for the quarter.
Although AMD topped expectations for third-quarter results and fourth-quarter outlook, the stock declined on profit taking.
How were the results: The Santa Clara, California-based company reported double-digit sales growth for the latest quarter.
Why it matters: With companies and government institutions continuously increasing their AI spending, there has been a boom in the demand for processors. This has led to massive demand for Advanced Micro Devices’ AI-related hardware. OpenAI and the US Department of Energy are among the drivers of AI demand.
AMD’s customer Microsoft disclosed a capital expenditure of approximately $35 billion for the fiscal first quarter, with almost half of the spend on chips.
There are concerns, however, around the AI boom and the technology not resulting in sufficient returns on investment for companies adopting it.
Revenues from AMD’s Data Center segment rose 22% year-over-year to $4.3 billion in the third quarter, beating market expectations of $4.09 billion, while Client and Gaming revenues jumped 73% to $4 billion.
Management guided to revenues of around $9.6 billion, plus or minus $300 million, for the fourth quarter, which came in higher than market expectations of $9.15 billion. The company said its current forecast does not include any sales from AMD Instinct MI308 shipments to China.
How shares responded: AMD’s shares fell 4.7% to $238.20 in the extended trading hours on Tuesday following the release of quarterly results. The stock has jumped around 149% over the past six months.
What to watch: Investors will continue monitoring the AI boom and the spend by the biggest tech companies. Markets will also keep an eye on AMD’s plans to expand production to meet rising demand.
Context: The AUD/USD forex pair fell this morning as investors digested the latest economic reports.
Details: Data released this morning showed that the S&P Global Australia composite PMI fell to 52.1 in October, from 52.4 in the previous month. Although this marked continuous monthly expansion for over a year, the latest pace was the softest in four months with easing growth in new businesses.
The S&P Global Australian services PMI business activity index edged higher to 52.5 in October, from 52.4 in the previous month.
The Ai Group Industry Index for Australia’s manufacturing sector also declined 8.8 points to a reading of -22 in October, signalling further deterioration.
Weakness in the US dollar lent support to the AUD/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell around 0.1% to 100.14 this morning.
The AUD/USD pair declined around 0.3% to 0.6472 this morning, while the S&P/ASX 200 fell 0.28% to trade at 8,789.30.
What to watch: Investors await the release of economic data on balance of trade (0430 UAE Time) from Australia on Thursday. Australia’s goods trade surplus, which shrank to A$1.83 billion in August from a revised A$6.61 billion in the previous month, is expected to rise to A$3.85 billion in September.
Australia’s goods exports contracted by 7.8% to a three-month low of A$41.86 billion in August, while goods imports grew by 3.2% to a record A$40.03 billion.
Other Markets: European indices closed mostly lower on Tuesday, with the DAX 40, CAC 40 and STOXX Europe 600 down by 0.76%, 0.52% and 0.30%, respectively, and the FTSE 100 up by 0.14%.
Ukraine’s military said that it struck an oil refinery in the Nizhny Novgorod region of Russia. The news sent the RUB/USD pair lower in forex trading this morning.
Ireland’s AIB services PMI surged to 57.4 in October, from 56.4 in the previous month, which lent support to the EUR/USD forex pair.
US crude oil inventories jumped by 6.5 million barrels in the week ending November 4, compared to a decline of 4 million barrels in the previous week, which sent the WTI crude oil prices lower this morning.
New Zealand’s unemployment rate rose to 5.2% in the June quarter, from 5.1% in the previous quarter, exerting pressure on the NZD/USD forex pair.
Singapore’s S&P Global PMI surged to 57.4 in October, from 56.5 in September. Despite this being the strongest growth in the private sector since August 2024, the SGD/USD pair fell in forex trading this morning.
Spain’s HCOB services PMI (1215 UAE Time) and HCOB composite PMI (1215 UAE Time), Italy’s HCOB services PMI (1245 UAE Time), HCOB composite PMI (1245 UAE Time) and retail sales (1300 UAE Time), France’s HCOB composite PMI (1250 UAE Time) and HCOB services PMI (1250 UAE Time), Germany’s HCOB composite PMI (1255 UAE Time), HCOB services PMI (1255 UAE Time) and 15-year Bund auction (1430 UAE Time), Eurozone’s HCOB composite PMI (1300 UAE Time), HCOB services PMI (1300 UAE Time), PPI (1400 UAE Time), 12-month Bill auction (1510 UAE Time), 3-month Bill auction (1510 UAE Time), 6-month Bill auction (1510 UAE Time), UK’s new car sales (1300 UAE Time), S&P Global composite PMI (1330 UAE Time) and S&P Global services PMI (1330 UAE Time), Mexico’s gross fixed investment (1600 UAE Time), US MBA mortgage applications (1600 UAE Time), ADP employment change (1715 UAE Time), Treasury refunding announcement (1730 UAE Time), S&P Global composite PMI (1845 UAE Time), S&P Global services PMI (1845 UAE Time), ISM services PMI (1900 UAE Time), ISM services business activity (1900 UAE Time), ISM services employment (1900 UAE Time), ISM services new orders ( 1900 UAE Time), ISM services prices (1900 UAE Time), EIA crude oil stocks change (1930 UAE Time), EIA gasoline stocks change (1930 UAE Time), EIA Cushing crude oil stocks change (1930 UAE Time), EIA distillate stocks change (1930 UAE Time), EIA heating oil stocks change (1930 UAE Time), total household debt (2000 UAE Time) and 17-week Bill auction (2030 UAE Time), Brazil’s S&P Global services PMI (1700 UAE Time) and S&P Global composite PMI (1700 UAE Time), as well as Canada’s S&P Global composite PMI (1830 UAE Time), S&P Global services PMI (1830 UAE Time) and 5-year Bond auction (2100 UAE Time).
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