Waller Cracks the Door to a September Pause and the Tape Rewards the AI Software Layer

Wall Street closed sharply higher on Thursday as Fed Governor Christopher Waller opened the door to a September rate pause and long yields eased. Snowflake ripped almost 17% on a guidance raise, Microsoft added nearly 3% on a reporting reshuffle that finally puts Azure on its own line, and Nvidia unveiled a $12.93 billion deal for Hugging Face. Campbell's cut its dividend and Lululemon slashed guidance after the bell.