By Nell Mackenzie

LONDON, Jan 16 (Reuters) - Investors have been hoping

Donald Trump's return to the White House next week will boost

the U.S. stock market, while Goldman Sachs ( GS ) sees stocks

benefiting from the biggest expected company buybacks in at

least five years.

A corporate repurchase window, when companies can buy their

own stock, begins Jan 24. Goldman strategist Scott Rubner told

clients in a note sent on Wednesday and seen by Reuters on

Thursday that companies that make up 45% of the value of the

entire S&P 500 could be allowed to buy back their shares.

BY THE NUMBERS

Goldman estimates that companies could spend some $1.07

trillion on buying back their own stock this year. On the other

side of the equation, global investors have poured about $143

billion into money market funds in the week ending Jan 10, the

largest since March 25, 2020, Goldman said.

CONTEXT

A large flow of cash into money markets usually coincides

with market turbulence, when investors seek shelter in what they

perceive to be the safest assets. Rubner says this time may be

more about savvy investors keeping their powder dry before

jumping back into equities.

KEY QUOTE

"This is straight up cash, homie," Rubner said, adding that

"money is moving and ready to buy equities once the headlines

(and prices) start to settle down."

GRAPHIC

Below is a table detailing Goldman's calculations of company

cash use since 2020:

Cash Use ($ 2020 2021 2022 2023 2024E 2025E

bln)

Capital $667 $739 $892 $958 $1,063 $1,148

expenditures

Share buybacks 538 919 950 824 931 $1,070

Dividends 520 548 598 621 664 711

R&D 401 453 516 584 642 700

Cash 224 349 288 318 271 325

acquisitions

Total Cash Use $2,351 $3,007 $3,244 $3,304 $3,571 $3,954