The stock market isn’t the economy — except when maybe it is?

The stock market has been having a gangbusters year. This week, the S&P 500 hit another record high, despite higher interest rates, inflation, and a continued war in Iran.

Stocks are an increasing share of total household wealth. And the top players in the stock market right now — companies like Nvidia, Google, and Apple — are spending trillions on AI, which is boosting GDP.

The common “Marketplace” refrain is that the stock market is not the economy. But right now, it’s possible that it is.

David Gura, a reporter at Bloomberg, and Heather Long, chief economist at Navy Federal Credit Union, spoke with “Marketplace” host Kai Ryssdal about this and the rest of the week’s economic news for the Weekly Wrap.

Click the player above to hear their conversation.