Consumers finally got a reprieve from inflation last month, though it’s not clear how long it will last.

The Consumer Price Index saw its largest monthly decline in more than six years between May and June, according to the Bureau of Labor Statistics, driven by falling gas prices. Investors celebrated the positive data, and the odds of a Federal Reserve interest rate hike in July plummeted. Still, the progress is tenuous, with the collapse of the U.S.-Iran peace deal already lifting oil prices again.

“A positive resolution with Iran before the end of the summer is becoming increasingly important,” Jeffrey Roach, chief economist for LPL Financial, said in comments shared with Forbes Daily.

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IBM stock plunged 25% in its worst day of trading ever after CEO Arvind Krishna warned investors that its second quarter was “worse than our expectations.”

Warren Buffett dropped the Gates Foundation from his midyear donations for the first time in 20 years, instead donating nearly $6 billion worth of Berkshire Hathaway shares to foundations run by his children.

OpenAI is reportedly developing a smart speaker as its first-ever consumer device, which will house an AI companion that can control home appliances and communicate with its owners.

Shares of EV maker Lucid Motors, founded by a former Tesla engineer, took a nosedive Tuesday after a report suggested it was considering filing for Chapter 11 bankruptcy—which the company denied. The automaker, which........

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