(CNBC) — U.S. stocks rose on Monday as Wall Street bet tax cuts would keep the economic expansion going.

The Dow Jones industrial average rose 72.09 points to close at 23,430.33, with IBM and Verizon among the best-performing stocks in the index.

The S&P 500 gained 0.1 percent to finish at 2,582.14, with telecommunications as the best-performing sector. Delphi Automotive and General Motors shares were among the best-performing stocks in the index, rising 3.4 percent and 2.3 percent, respectively.

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