Tax-cut fueled cash buyouts, stock buybacks more than double wage growth: TrimTabs

U.S. companies have announced $305 billion in cash mergers and acquisitions and stock repurchases during the first quarter, more than double the $137 billion announced in the fourth quarter, fueled by recent tax legislation, according to TrimTabs Investment Research. That was also more than double $131 billion in pre-tax wage growth during the quarter, based on U.S. Treasury tax collections, TrimTabs said, which shows that "the recently enacted corporate tax cut is likely to deliver far more benefits to top management and investors than to typical American households," TrimTabs said. Meanwhile, the S&P 500 has gained 0.8% year to date while the Dow Jones Industrial Average has tacked on 0.3%.