US Firms Racing Through $1 Trillion Buyback Spree in Record Time

US companies are planning to buy back shares at a historic pace, a sign of Corporate America’s confidence in the economy, with Nvidia Corp. being the latest to add its name to the long list of repurchase plans.

Announced buybacks surpassed $1 trillion on Aug. 20, marking the shortest amount of time needed to reach that level, according to data compiled by Birinyi Associates. The previous record was in October last year.