Surging U.S. Share Buybacks Offer Support to Sputtering Market
- Tally of 10 biggest Q4 buybacks by S&P 500 firms is up 30% YoY
- Move to tap pandemic cash hoards follows shareholder pressure
Photographer: Bryan R. Smith/AFP/Getty Images
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U.S. companies are stepping up share buybacks, supporting a struggling stock market in the face of mounting geopolitical tension and fears that earnings growth will wane once the Federal Reserve raises interest rates.
The 10 biggest repurchases for S&P 500 Index companies last quarter totaled $86 billion, up almost 30% from a year earlier, led by Apple Inc., Meta Platforms Inc. and Google parent Alphabet Inc., data compiled by Bloomberg show. The list isn’t complete, with nearly 20% of index members scheduled to report data in the coming weeks.