July ended on a hopeful note for U.S. stocks after the momentum trade suffered its biggest wipeout since 2000. Investors are seeing increasing signs that the market bottom is near, if not already in. Hard-hit momentum names completed a powerful two-day comeback rally, ending a turbulent stretch for the strategy. A highflying and heavily leveraged AI-focused hedge fund sold its entire equity portfolio, supporting the rebound. Semiconductor stocks recorded their biggest two-day rally since June, according to Dow Jones Market Data.
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