German engineering giant Siemens posts a 56 per cent rise in Q net income and boasts an order book of more than €22bn. CEO Roland Busch says the China market remains a concern. Shares in chip maker ARM are up 40 per cent in after-hours trade after the firm hiked guidance on strong A.I. demand. ARM’s major shareholder Softbank also posts a $16bn gain in earnings. Disney hikes its forecast and announces its foray into gaming, investing $1.2bn in Fortnite maker Epic Games. In China, producer prices fall for a sixteenth consecutive month while consumer prices have their steepest fall since 2009. On Wall Street, the S&P 500 records another record high – just five points shy of the 5,000-mark.   

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