Goldman warns that buybacks are ‘plummeting,’ ending a big source of buying power for the market
KEY POINTS
Buyback spending is plummeting as companies spend less amid growing global uncertainty.
According to Goldman Sachs, buyback spending slowed 18% to $161 billion during the second quarter, and the firm anticipates that the slowdown will continue.
“During full-year 2019, we expect S&P 500 cash spending will decline by 6%, the sharpest annual decline since 2009,” the firm says.
As corporate spending slows, investors hunting for yield should look to high-dividend stocks, the firm says.
https://www.cnbc.com/2019/10/21/gold...lummeting.html
Tom
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