News

New Zealand Participation Rate down to 70.3% in 3Q from previous 70.5%

New Zealand Labour Cost Index (YoY) meets forecasts (2.1%) in 3Q

The chipmaker is working on a major deal with OpenAI

Pinterest shares tanked on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance.

The Mediterranean chain reported same-store sales growth of 1.9% and flat traffic for the third quarter.

Advanced Micro Devices (AMD) third-quarter 2025 results.

Advanced Micro Devices reported third-quarter adjusted earnings of $1.20 per share, ahead of the $1.17 consensus estimate, as robust data-center and AI chip demand helped offset continued softness in PCs.

Revenue rose 16% year-on-year to $9.25 billion, beating expectations of $8.74 billion.

Adjusted operating income came in at $2.24 billion versus $2.15 billion expected, while adjusted operating margin was 24%, roughly in line with forecasts.

R&D spending climbed to $2.14 billion (est. $1.96 billion) as the company ramped investment in AI-driven product lines, while capital expenditure reached $258 million (est. $219.7 million).

Looking ahead, AMD guided fourth-quarter revenue between $9.3 billion and $9.9 billion, topping analyst expectations of $9.21 billion, signalling confidence in ongoing AI server demand and next-gen processor launches.

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Background on this is here:

• AMD earnings after the close.

Also, the earnings conference call is at 5:00 pm US Eastern time / 2200 GMT

This article was written by Eamonn Sheridan at investinglive.com.

Beta’s IPO marks a big step for the electric vertical takeoff and landing industry that’s been vying for approval from the Federal Aviation Administration.

Major US stock indices move lower with the

• NASDAQ index falling -2.04%.
• The S&P index fell -1.17% and the
• Dow industrial average fell -0.53%.

The hangover from last week’s Fed meeting, the government shutdown, concerns about overvaluation, and bitcoin tumbling back below the $100,000 level hurt the sentiment

Looking at some of the company specific stocks:

• Meta-is down for the 4th consecutive day and 16% since its earnings last week.
• Palantir tumbled -7.95% on overvaluation after beating on earnings after the close.
• Nvidia shares fell -3.96%,
• Broadcom shares fell -2.93%,
• Micron -7.13%
• Shopify -6.93%
• AMD shares fell -3.7% ahead of earnings after the close.
• Oracle fell -3.75%

This article was written by Greg Michalowski at investinglive.com.

Canada’s federal government forecast larger budget deficits and a higher debt-to-GDP ratio over the coming years, even as total borrowing needs are set to ease slightly, according to the Finance Ministry’s fiscal update on Tuesday.

Ottawa now expects a 2025/26 deficit of C$78.3 billion, almost double the C$42.2 billion projected in December,

• and a 2026/27 shortfall of C$65.4 billion, versus C$31 billion previously.
• The deficit is seen narrowing only modestly to C$63.5 billion in 2027/28.

The federal debt-to-GDP ratio is now forecast to rise to 42.4% in 2025/26

• and 43.1% in 2026/27,
• peaking at 43.3% in 2027/28

before stabilising through 2029/30.

Despite the larger fiscal gaps, the government plans to borrow C$594 billion in 2026/27, down from C$614 billion in 2025/26.

• Bond issuance is projected at C$298 billion (from C$316 billion).

• Treasury bills are seen at C$291 billion, slightly below July’s revised forecast of C$296 billion.
  Roughly 75% of total borrowings will be used to refinance maturing debt rather than fund new spending.

The budget outlines C$280 billion in investments over five years targeting infrastructure, defence, housing, and competitiveness measures, offset by C$60 billion in planned savings over the same period.

Public debt charges will rise from C$55.6 billion in 2025/26 to C$60 billion in 2026/27, then C$66.2 billion in 2027/28, underscoring the pressure of higher rates.

Economic growth projections were cut across the board, with real GDP growth now seen at

• 1.1% in 2025 (from 1.7%),
• 1.2% in 2026 (from 2.1%),
• and roughly 2% through 2027–28.

The government reaffirmed its commitment to regular green bond issuance as part of its sustainable financing strategy.

This article was written by Eamonn Sheridan at investinglive.com.

If there is a clear winner on the economic data calendar today its the China ‘Rating Dog’ PMI! Have you ever heard a better name for an economic data point?

This is the private survey services PMI. We’ve already had the official PMIs from China for October:

• China official manufacturing PMI (October) 49.0 (expectd 49.6) services 50.1 (expected 50)

and the private manufacturing PMI (also a Rating Dog):

• China private survey manufacturing PMI (October 2025) 50.6 (expected 50.7)

Today’s services PMI is expected to have dipped a little from September but to have remained solidly in expansion.

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Ahead of this are jobs data from New Zealand. There are concerns about slow growth in New Zealand, even as the Reserve Bank of New Zealand has eased rates (and are expected to ease further) that’ll be reflected in an expected tick up in the unemployment rate.

From the Bank of Japan we’ll get minutes of the September meeting. The meeting created some shock waves with two dissenters seeking an immediate rate rise. From the day:

• investingLive European markets wrap: Yen fades BOJ gains; dollar firms, stocks tentative

We had the “Summary of Opinions” from this back on September 30.

This article was written by Eamonn Sheridan at investinglive.com.