Market Performance: February 23, 2024.

US stocks lost steam Friday but powered through a dizzying week of record breaking stoked by AI chipmaker Nvidia's (NVDA) blowout earnings.

The S&P 500 (^GSPC) rose just above the flatline, notching a new closing high, while the Dow Jones Industrial Average (^DJI) increased 0.2%, or about 60 points, claiming a fresh record of its own. The Nasdaq Composite (^IXIC) headed in the opposite direction, finishing down 0.3% after a blockbuster week.

Investors appeared to catch their breath after a worldwide breakout, which added about $277 billion to Nvidia's market value for the biggest single-day gain in Wall Street history. The chipmaker's shares continued their rise Friday, pushing the company close to a $2 trillion valuation.

How Much Money Do You Need to Be Happy in Your State?

Can money buy happiness? According to a Purdue University study published in the journal Nature Human Behaviour, income can correlate with emotional well-being and life satisfaction, though this probably has to do with a variety of factors, such as having the money to fund the things vital to you, such as your healthcare.

To estimate how much money you might need to be happy in every U.S. state, GOBankingRates factored in each state’s cost-of-living index and used $105,000 — which the Purdue study found was the ideal income for life satisfaction in North America — as the “benchmark.” The states were ranked from least to most amount of money needed to be happy.

GOBankingRates also included unemployment rates for many states for informational purposes.

The Purdue study also included figures for being content at the “life evaluation” and “emotional well-being” stages. Globally, those were determined to be $95,000 and $60,000 to $75,000, respectively. It’s important to keep in mind, though, that “happiness” is subjective.

The cost to live comfortably can vary from person to person.

Reasons gold makes more sense than other investments right now

When it comes to investing, there is no shortage of assets to choose from. For starters, it's easy to add any number of traditional investment assets to your portfolio — from more volatile assets, like stocks, to less-risky assets, like bonds and interest-bearing accounts, including certificates of deposit (CDs) and money market accounts. And, there are also alternative assets, like Bitcoin, that can also be an option worth considering.

While those choices can make it difficult to decide where to put your money, there's a big benefit to having options: it makes it easier to diversify your portfolio.

It can be an inflation hedge

One of the primary reasons investors are turning to gold is its proven track record as a hedge against inflation. That's because, unlike traditional paper currencies, gold has intrinsic value and tends to retain its purchasing power over time. So, during periods of inflation, the demand for gold typically increases as investors seek to preserve their wealth.

It can protect against economic uncertainties

The global economic landscape is marked by uncertainty, with geopolitical tensions and ongoing economic uncertainties contributing to an air of instability. And, in times of economic uncertainty, investors seek assets that are resilient and can weather market volatility.

It offers unique diversification benefits

A well-diversified investment portfolio is a key principle of sound financial planning. And, gold, with its low correlation to other financial assets, provides an effective means of diversification. That's because when traditional investments, such as stocks and bonds, face challenges, the value of gold will typically move in the opposite direction.

And, this lack of correlation between gold and traditional assets can help mitigate overall portfolio risk.

Alternative Investing