US shares close Friday with another record

NYSE trader Image copyright Getty Images

(Close): Wall Street romped to a new closing high in Friday trading.

The spark was President Donald Trump's promise to undertake major tax reforms.

The Dow Jones closed up 99 points at 20,270.88, while the wider S&P 500 rose 8 points to 2,316. Meanwhile, the tech-heavy Nasdaq gained 19 points to 5,734.

Stores chain Sears extended its opening 14% leap to 25% after it unveiled a plan to cut debt. Mead Johnson was up 6% after Reckitt Benckiser finalised its $16.6bn deal to buy it.

Activision Blizzard leapt 18% after the videogame maker reported better-than-expected results and a share buy-back plan.

Another market-beating set of figures sent Skechers USA up 20%.

Twitter was down another 5% after Thursday's 12% fall following disappointing user and revenue numbers.

Oil gained 1.5% after it emerged OPEC members had stood by their production cut deal.