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Dip Buying Lifts U.S. Stocks as Chip Rebound Gains Momentum

2026-07-24 11:56:57

Abstract generation in progress

Dip buying pushed U.S. stocks higher as chipmakers rebounded, while UBS data showed hedge funds cut long positions in momentum and semiconductor stocks by approximately 5% of total market capitalization. UBS's trading desk said the sell-off in momentum stocks may be nearing its end. Investors are betting that the artificial intelligence trade still has room to run.

UBS-2.10%

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