STOCKS HIT A RECORD HIGH: Here's what you need to know

US stocks climbed to a new record as energy stocks led the way higher.

The S&P 500 increased 0.7%, while the Dow Jones Industrial Average spiked 0.8% and the more tech-heavy Nasdaq 100 rose 0.79%.

First up, the scoreboard:

• Dow: 25,557.91, +188.78, (+0.74%)
• S&P 500: 2,766.06, +18.01, (-0.65%)
• Nasdaq: 7,209.15, +55.61, (+0.78%)
• US 10-year yield: 2.53%, -0.02
• WTI crude oil: $63.58, +$0.01, +0.02%

1. A stock trade that crushed the market last year could come crashing back to earth. It's the so-called growth trade, which may lose ground to its rival, the value trade, says Bank of America Merrill Lynch.

2. Ripple's XRP is exploding after announcing a partnership with MoneyGram to speed up transfers. As part of the collaboration, MoneyGram is expected to test the XRP cryptocurrency to improve transfer settlement times and costs.

3. Goldman Sachs identifies 13 stocks that will see profits explode higher in 2018. It's part of the firm's ranking of stocks in the S&P 500 that are expected to see the biggest earnings growth this year.

4. Walmart is abruptly closing 63 Sam's Club stores and laying off thousands of workers. Sam's Club has not said how many employees are losing their jobs. Each of the company's warehouses employs about 175 people, meaning more than 11,000 people could be impacted.

5. David Rosenberg says the excesses in markets are practically unlike anything we've ever seen. The chief economist at Gluskin Sheff provides the example of how US economic growth is now more dependent than ever on asset inflation.

ADDITIONALLY:

An infamous mystery trader refuses to give up on a bet that the stock market will go nuts

Billionaire investor Steve Cohen is about to make his return to the hedge fund industry - and he's already amassed a substantial war chest

China says reports that it will stop buying US Treasury debt is 'fake news'

White House praises Walmart for raising wages due to the tax bill, despite the company laying off thousands of workers on the same day

Morgan Stanley just announced its 2018 managing director promotions

BARCLAYS: Google search data has a 'very high correlation' with Netflix's US subscriber growth

GE has lots of good stuff going on - but it's not enough to turnaround the company just yet

Landlords offer record freebies to New York City apartment hunters in 'challenging year'

NOW WATCH: Fidelity sector expert: Buy stocks that are sensitive to the economy