Mar. 19 at 5:44 PM
Currently, ~60% of S&P 500 in blackout period (no buybacks) - this will jump to 85% by the end of the week & continue to rise thereafter
Goldman Sachs expects stock buybacks to exceed
$1.08T for the 1st time in 2025
Current market cap of the index is
$42.95T as of the close of March 9, 2024
Note: Biden admin proposes to increase the tax on stock buybacks fourfold to 4% from 1% (intro'd in 2023). Legislation includes an improvement to rules for when a company buys back stock but then issues new stock, and it can generally reduce the amount of its buyback tax—this is referred to as the “netting rule.”
Institute for Policy Studies: B/n 2010-2019, the 500 largest US companies spent
$5.3T on stock buybacks, more than the
$4.3T they spent on capital expenditures
$SPY $PKW $SPX $ES_F $VIX