S&P 500 Firms Boost Cash To Highest Level In Decade

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S&P 500 Firms Boost Cash To Highest Level In Decade

It looks like the ongoing global economic uncertainty is starting to hit home, as major American firms are starting to pile up cash instead of investing it. A September 24th report from FactSet Insight highlights that the S&P 500 (ex-Financials) cash and short-term investments in the second quarter totaled $1.43 trillion, the second highest level in a decade.

As FactSet research analyst Andrew Birstingl notes:”This amount reflected 5.5% growth on a year-over-year basis and 3.9% growth quarter-over-quarter. Seven out of nine sectors posted positive year-over-year growth, with the Consumer Discretionary (-0.8%) and Industrials (-0.9%) sectors being the only decliners.”

Breakdown of S&P 500 2Q 2015 cash balances

RV Capital 1H22 Letter to Co-Investors in Business Owner