The market managed to roar back in rapid fashion without buybacks, once a key pillar of the decadelong bull market, leaving hope that stocks could enjoy a boost when repurchases eventually make a return.
Stock buybacks dried up in the second quarter as cash-conserving Corporate America focused on cutting costs and managing liquidity risk amid the coronavirus crisis. Share repurchases from the S&P 500 companies dropped 55% to $88.7 billion in the second quarter, the lowest amount since March 2012, according to S&P Dow Jones Indices.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Pro