STOCKS EDGE HIGHER AFTER COMEY TESTIFIES: Here's what you need to know

Stocks were little changed on Thursday as investors digested former FBI director James Comey's Congressional testimony.

While the S&P 500 and Dow barely budged, the Nasdaq Composite index climbed 0.3% to a new record. All three gauges hit all-time highs last Friday.

First up, the scoreboard:

• Dow: 21,182.58, +8.89, (+0.04%)
• S&P 500: 2,433.77, +0.63, (+0.03%)
• Nasdaq: 6,322.52, +25.16, (+0.40%)
• US 10-year yield: 2.194%, +0.016
• WTI crude oil: $45.62, -0.10, -0.22%

1. Wall Street is battling over whether scorching-hot tech stocks are too expensive. The answer varies, depending on which valuation metric one uses.

2. One of history's most reliable stock-trading strategies is struggling. Value investing provided consistent gains for the better part of seven decades, but has faltered during the ongoing economic cycle.

3. Markets are so dead that some investors would be happy to hear any news — even if it's terrible. At least that's the view of Laurence Taylor, a portfolio specialist of global equities at T. Rowe Price.

4. Traders are cranking up their bets against Snap. They haven't been this bearish on the stock since the period immediately following its IPO. Snap has been drawing the ire of analysts across Wall Street because of concerns over user growth.

5. Elon Musk taunted Tesla short sellers (again). The founder and CEO fired off several tweets, including one that read: "These guys want us to die so bad they can taste it."

ADDITIONALLY:

US car sales have soared the last 2 years — but the future doesn't look as promising

JPMorgan's COO, once considered an heir to Jamie Dimon, is leaving the bank

Senate Republicans may save Obamacare right before they repeal it

A notorious activist investor explains why he came to love that label

A gold breakout could cause other dominoes to fall

Delays in Apple's supply chain mean the newest iPhone might be late

NOW WATCH: Here's why the American flag is reversed on military uniforms