‘Ultimate Dip-Buyers’ of Stocks Remain Strong as Buybacks Surge
A trader works on the floor at the New York Stock Exchange.
Photographer: Michael Nagle/BloombergAs investors begin to wonder if a torrid rise in US equities is running out of steam, one of the market’s most important buyers shows its unwavering support remains.
Corporate America announced plans to buy back $665 billion worth of shares in S&P 500 Index companies in the four months through April, the most ever to start a year, according to data from Birinyi Associates. Apple Inc. was the latest heavyweight to greenlight a $100 billion share-repurchase plan on Thursday to reassure investors during its leadership transition.