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Companies and insiders are holding off on stock buybacks

Top executives at big companies known as corporate insiders bought back shares of their own firms' stock at the second lowest rate in at least two years last month, even as speculators continued to buy the dip.

Why it matters: Insiders are typically bullish on their own company and buy when prices fall, but declined to do so after all three major U.S. stock indexes fell by at least 2% during the month, the second consecutive month of declines. (The Dow fell 6%, its worst monthly showing since March's historic drop.)

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