CNBC: “Companies buying their own shares could fuel the next market rally”

CNBC’s latest article quoting DataTrek Research:

With stocks down significantly, corporate buybacks could help stabilize the market.

Buybacks have been one of the big stories supporting the market this year. DataTrek estimates that in the last 12 months, the companies in the S&P 500 have purchased $646 billion of their own stock, 29 percent more than the previous 12 months.

And there’s plenty of “dry powder” left. One firm estimates at least $350 billion of buybacks that have been planned for the year and are just waiting to be put to work.

Read the whole article here on CNBC!

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