Shorts Beware, Your Archenemy in the Stock Market Is Revving Up
- Buybacks rose 23% from a year earlier, says Bank of America
- Stocks remain 2.8% off record highs amid rising trade tension
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Hedge funds are embracing bearish bets and retail investors are bailing from stocks. And yet neither is denting equity resilience.
One explanation is -- surprise! -- corporate buybacks, which are happening at a torrid pace. As the S&P 500 fell last week for its first back-to-back losses this year, companies from banks to technology providers stepped up repurchases of their own shares, client data compiled by Bank of America Corp. show.