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Stocks close July higher as investors brace for momentum after selloff

The selloff was described as the biggest wipeout since 2000, but sentiment shifted toward signs of a market bottom by month end.

Reported · Written up by our desk · Indices

MarketWatch said July ended on a more hopeful note for US stocks as investors looked for evidence that selling pressure may be nearing an end.

The outlet characterized the preceding “momentum trade” selloff as the biggest wipeout since 2000, then pointed to a growing belief that the market bottom could be near or already forming.

According to MarketWatch’s summary, the latest shift reflects investor focus on signs that conditions are improving after the heavy decline.

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