(CNBC) — U.S. stocks closed higher on Tuesday, lifted by a sharp rally in energy stocks, while the technology sector rebounded after a post-election sell-off.
The Nasdaq composite outperformed, rising 1.1 percent, as Apple and the so-called FANG stocks (Facebook, Amazon, Netflix and Google's parent firm Alphabet) all rose. Technology stocks have taken a hit since the U.S. election, falling more than 2 percent entering Tuesday.
"However, the plunge endured by some of America's largest and greatest technology companies will inevitably offer a fortuitous buying opportunity for investors. The prospects of securing their best absolute returns since 2013 will entice long-short firms to add to their exposure aggressively ahead of year-end once the skittishness underneath the broader market dissipates," Jeremy Klein, chief market strategist at FBN Securities, said in a note.
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