S&P 500 Cash Hoards Shrink for First Time Since 2009
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Corporate America is putting its cash hoard back to work.
In the first decline since mid-2009, Standard & Poor’s 500 companies reduced cash and short-term investments to $2.41 trillion from a record $2.46 trillion, according to data Bloomberg compiled from their most recent quarterly reports. Capital spending increased $22.3 billion, the biggest quarter-to-quarter jump since the end of 2004, to $142.8 billion, the highest level in two years.