There is a significant amount of money being held by corporations at the moment.
$1.9 trillion. 7% of their cash. That’s the highest level since 1963.
This is rational (from their point of view) due to the uncertainty in the world, including mixed signals from Washington.
But as they reinvest in technology, efficiency, and new products, this bodes well for the longer term value of their firms, and ultimately our investment markets.