Analysts at Goldman Sachs expect total cash spending by S&P 500 companies to grow by 9% to $3.7T this year, driven by cash M&A and buybacks. Despite higher interest rates, S&P 500 companies have increased their cash balances by 7% year-over-year. Analysts forecast S&P 500 EPS to grow by 8% in 2024 and 6% in the following year, providing companies with more cash to spend.