(CNBC) — U.S. stocks closed higher Monday as telecoms led and traders bought some recently less-favored sectors, while some top postelection plays lagged.
Telecommunications traded more than 1 percent higher, while real estate and tech were among the top advancers.
"It's just an overflow technically into equities and people are just trying to pick up what hasn't run up as much as the recent leaders," said Ilya Feygin, managing director and senior strategist at WallachBeth Capital. "The gains are becoming smaller and smaller."
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