The three major U.S. stock indexes closed at record highs for the second day in a row as President Donald Trump promises tax reform plan is coming, oil prices rallied and energy and material shares gained. The Nasdaq set a record for the fourth consecutive day. Oil settled up 1.6% to $53.86 a barrel. This comes after the International Energy Agency reported Friday that OPEC members and the 11 non-OPEC countries had "record initial compliance" of 90% on their plan to cut production by 1.2 million barrels a day. The IEA noted that Saudi Arabia reduced production more than required. Skechers (SKX) shares soared over 19% after the company missed earnings estimates, mostly due to the impact of foreign currency transactions, however investors saw revenue grow 5.8% to $764.3 million during its fourth quarter. Finally, Yelp (YELP) shares dropped over 13% after the company's revenue of $195 million met analysts' expectations, but app user growth fell to 20% from 24% during the quarter and its 2017 guidance was reduced.
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