Stock buybacks, which have long been a pillar of support for the broader market, just contracted for the first time in seven quarters. The 'Halftime Report' traders make the case for why the decline isn't as bad as it might sound.
Stock buybacks, which have long been a pillar of support for the market's climb higher, just contracted for the first time in seven quarters, according to data from S&P Dow Jones Indices — indicating that companies are tightening their purse strings.
Aureus Asset Management's Karen Firestone is also unworried: "Remember, we're at an all time high. Perhaps companies — for the first time in a long time — are starting to think about the valuation of their own stocks."The recent decline in stock buybacks might provide one sign that the end could be near. Buybacks, or share repurchases, have long been a pillar of support for the broader market.
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