Forget Apple, Goldman Says, Flagging New $1 Trillion for S&P 500
- That’s the total share buybacks likely to be announced in 2018
- Corporate support for market is back as earnings peak passed
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Investors fixated on one 13-digit milestone last week, Apple Inc.’s value. But another trillion-dollar threshold is in sight and is more relevant to the bull market in U.S. equities, says Goldman Sachs Group Inc.
It’s the volume of stock buybacks that corporate America is likely to announce this year. The total for S&P 500 firms will jump 46 percent from 2017 to an annual record, according to an increased estimate from the Goldman unit that executes share repurchases for clients.