Stocks secured new intraday records as President Donald Trump again made vague references to a forthcoming tax reform plan. The president said a "massive" plan would be released in the "not-too-distant future." Domestic crude inventories rose at a steeper pace than anticipated. The Energy Information Administration reported an increase of 9.5 million barrels to U.S. stockpiles last week. Yahoo!  (YHOO) jumped this morning on reports Verizon  (VZ) had reached a revised deal to acquire the Internet company. Verizon is reportedly close to making the new deal public. The acquisition was in jeopardy after a string of hacks left Yahoo vulnerable. Fortress Investment (FIG) rocketed higher after Softbank agreed to buy the asset manager for $3.3 billion. The per-share offer values Fortress at a 39% premium to its close at the beginning of the week.

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