Record Start to 2024: Companies Ramp Up Share Repurchases

Companies around the world are starting to buy back their own shares at a fast pace as 2024 begins, thanks to strong earnings that were better than many expected. After being cautious with their money in 2023 due to high borrowing costs, businesses are now expected to increase their share buybacks this year. In the United States alone, companies have announced plans to buy back $105 billion of their own shares just in the first week of February, a record start to the year. This is seen as a big support for stock markets, which are already hitting new highs, with the S&P 500 Index reaching new records nine times this year.