The stock market’s recent trend could be described as just going higher — with the S&P 500 setting its intraday record high of 4,257 on Tuesday. Despite bubble concerns and pockets of investing mania, fundamentals are supporting it.

Why it matters: The stock market has rallied almost unabated in the past year, more than recovering all of its early pandemic losses, leading some to question if prices have detached from economic reality and gotten frothy.

A tidal wave of household names — like Robinhood and Krispy Kreme — is about to hit the public market.

Why it matters: Jitters that spooked some would-be public companies last month didn't last. Investors are now bracing for a summer "scorcher" that will reignite the IPO boom and likely fuel a record year.

Another day, another development in the Lordstown Motors saga.

• What's new: The buzzy electric vehicle company's CEO and CFO are out.

The CEOs of 178 health care companies collectively made $3.2 billion during the coronavirus pandemic, which was 31% more than 2019, according to an Axios analysis of financial filings.

The big picture: Health care executives took home more than ever because a vast majority of their pay still comes in the form of stock. So while the coronavirus ravaged people's lives, the health care system and the broader economy, the soaring stock market immunized executives' pay.

The origin story of the meme stock phenomenon centered around an uprising by retail investors, who wanted to make money at the expense of Wall Street short-sellers.

But in today’s meme stock world, there’s not that much short interest in the names most popular with the WallStreetBets crowd. Instead, trading activity appears to be increasingly driven by call options, the Wall Street Journal reports.

Inflation here. Inflation there. Inflation everywhere.

Driving the news: Consumer prices rose 5% year-over-year, including a 0.06% bump between April and May, according to Consumer Price Index data released this morning. It's the biggest year-over-year gain since August 2008, and came in well above economist estimates.

In appearances this week, SEC chairman Gary Gensler laid the groundwork for his agency to play offense.

Why it matters: Phenomenons like SPACs and an explosion of retail trading have taken off over the last year, presenting new market realities for regulators to consider. On Wednesday, Gensler outlined plans for a broad review of the equity market's structure — with a goal of modernizing the rules of the game.

Investors on the hunt for buying opportunities in equities probably haven't come across some of this year's notable success stories. That's because they are hiding in an illiquid, old-school market — and being traded by fixed-income desks.

Why it matters: After Chapter 11, many companies are left for dead by the broader investing community — keeping their comebacks under the radar due to the private market in which they trade. SPACs (special purpose acquisition vehicles) are increasingly starting to take notice as they search for targets to buy.

There was a record 9.3 million open jobs in America in April, according to new government data out Tuesday.

Why it matters: As the economy made strides to a full reopening, new gigs opened up faster than companies could hire for them. What's more, a record number of Americans quit their jobs — a sign that workers are confident there's better, higher-paying work elsewhere.

Three-year-old music startup Trebel, whose app allows users to listen to music for free on-demand and offline, is going public via a Regulation A+ offering, according to a new SEC filing.

Why it matters: The company differentiates itself from other music streamers by letting consumers listen to music for free on-demand and offline with ads — a game-changer for people in developing markets.