After a dismal first half of the year, U. S. stocks have rebounded significantly over the past month. According to market opinion, one of the possible drivers is that US companies are launching a new wave of buybacks.

According to data compiled by BNP Paribas, the number of buybacks announced in the second quarter of this year has exceeded the high point of 2018, when corporate repurchase plans were close to $400 billion.

Maxwell Grinacoff, a strategist at the bank, said buybacks should provide a boost to the stock market.The amount of buybacks announced in the market has reached its highest level in more than a decade.

In addition, in view of the fact that the second-quarter earnings season of US stock companies is not over yet.More companies may announce buyback plans in the future.

Futu Information has sorted out some of the US enterprise buyback plans in the second quarter earnings season, includingPayment giant$PayPal Holdings Inc (PYPL.US) $Threw out a $15 billion buyback plan; at a time when the overall performance of the six major banks in the United States is declining$Morgan Stanley (MS.US) $Reverse the trend and increase the repurchase plan by $20 billion.$Chevron Corp (CVX.US) $、$Western Oil (OXY.US) $A number of oil companies have also announced buyback plans.

In additionIn the U.S. Senate tax and climate packageThe new 1 per cent tax on share buybacks will not take effect until 2023, meaning a series of buybacks are likely by the end of the year.

Wall Street analysts say the new tax may not be fatal to share buybacks once it takes effect. This is mainly because the interest rate of 1% is not high enough to stop a large number of buybacks.Share buybacks are expected to hit a record before the repurchase tax is about to become law.