Market Performance: February 20, 2024.

Stocks ended mostly higher on Wall Street Wednesday after a listless day of trading with big technology stocks again acting as a heavy weight on the market.

The S&P 500 rose 6.29 points, or 0.1%, to 4,981.80. The benchmark index spent much of the day in losing territory before climbing higher just before markets closed.

The Dow Jones Industrial Average also eked out a slight gain after losing ground most of the day. It rose 48.44 points, or 0.1%, to 38,612.24.

Personal finance advice on social media can help you even when it's bad

It’s no secret that the younger generation of consumers is increasingly turning to social media to learn about their own personal finances. A 2023 retail investor survey by robo-advisor Betterment found that more than half of Gen Z (65%) and millennials (55%) get advice from social media.

And with more and more money trends taking over social media apps today and influencing how we “should” be using our money — “bougie broke” scenes, “no-spend” challenges, “make the money back” mindset, “cash stuffing” method, “girl math” and so on — we wanted to know when social media money advice is worth it and how it can play a role in our money decisions.

When social media money advice works

While plenty of people scroll their phones for personal finance advice, they’re (thankfully) keeping a skeptical attitude. In the Betterment survey, social media ranks as one of the least trusted sources of financial information, with financial advisors and friends and family marking the most trustworthy front-runners.

See social media as the first step

Social media’s influence on our personal finance actions being a good or bad thing really boils down to how you interpret the advice or trend.

How Capital Investment Influences Economic Growth

Economic growth, as measured by gross domestic product (GDP), is spurred by an increasing production of goods and services. Consumer spending, international trade, and businesses that invest in capital impact the flow of supply and demand.

If consumers buy more homes, revenue increases in the construction market and for contractors. As companies expand their products and services through capital investment, they may hire more employees and increase salaries or wages.

What Is Capital Investment?

Capital investment occurs when businesses purchase capital goods like buildings, machinery, equipment, vehicles, and tools. These tangible assets are used to produce goods or services. Capital investment is a means for a company to further its business objectives.

Gross Domestic Product (GDP)

Gross domestic product is the total monetary or market value of all the finished goods and services produced within a country in a given period. The U.S. government releases an annualized GDP estimate for each quarter and year. GDP is a comprehensive scorecard of an economy's economic health and growth.

Alternative Investing