The Dow Jones rose 0.2% to 19,251.78, while the wider S&P 500 gained 0.3% to 2,204.71, just missing a new record. The  Nasdaq rose 0.5% to 5,333.00.
Banking shares performed strongly, with Wells Fargo up 2.2%, Bank of America rising 1.5% and Goldman up by 1.2%.
Financial shares have climbed by over 15% since the election.
President-elect Donald Trump's plans to reduce corporate tax and regulations are expected to benefit the sector.
Meanwhile, analysts are predicting the Federal Reserve will raise interest rates next week, in another boost for banks.
Financials in general are "benefiting from the feeling that interest rates are done going down and we are going to see a much more favourable interest rate and spread environment for financials," said Paul Nolte, portfolio manager at Kingsview Asset Management.
Mr Trump's announcement that Japanese telecoms and internet firm SoftBank had agreed to invest $50bn in the US also boosted markets, with Sprint shares rising 1.5%and T-Mobile gaining 1.8%.
Other telecom stocks also rose.
AT&T shares increased by 1.9% after the firm said its new streaming television service DirectTV Now has gained more subscribers so far than expected.
Verizon shares climbed 1.2 % after the wireless carrier said it was selling 29 data centres for $3.6bn.
Chipotle was one of the top fallers on the S&P 500, dropping 7.6%, after it said sales had not recovered as well as expected.
Quarterly sales have been falling over the past year since food safety issues led to the temporary closure of dozens of Chipotle restaurants across the US.

The Medicines and Healthcare products Regulatory Agency says young people are gambling with their health by using prescription medicines in a bid to get higher marks in exams.
Many websites illegally sell drugs like Ritalin and Modafinil without a valid prescription.
The drugs can cause dependency, heart problems and psychosis.
So far this year, the MHRA has closed nearly 5,000 websites selling fake or unlicensed medicines.
Modafinil is designed to be used for a health condition called narcolepsy - a rare but serious brain disorder that causes a person to suddenly fall asleep at inappropriate times. But some students take it to stay alert.
Others take Ritalin, a treatment for Attention Deficit Hyperactivity Disorder (ADHD), for a cognitive boost.
MHRA Senior Policy Manager Lynda Scammell said: "You may be offered 'smart drugs' or 'cognitive enhancers' at university - some of them may be potent medicines which should only be prescribed by a doctor.
"Modafinil is licensed for specific medical conditions - not for use as a 'boost' during exams. Don't put your health at risk by self-medication - it could have serious side-effects.
"It's a criminal offence to supply prescription-only medicines without a valid prescription - websites offering them are acting illegally.
"Be smart - don't put your health at risk by buying medicines online and don't give your student loan to a criminal."

The Australian author died in the coastal town of Byron Bay in New South Wales state surrounded by family.
Oz often covered taboo topics including homosexuality, abortion, police brutality and censorship.
The magazine was caught up in a high-profile obscenity trial in the UK in 1971.
"Our wonderful Richard has gone on to his next adventure," Ms Clarke Neville said in a statement posted on Facebook.
"He died tonight in Bryon Bay surrounded by all of us - Julie, Lucy, Angelica and Ricardo."
(Close) The Dow Jones Industrial Average closed at a fresh high for a second consecutive day after a rally in financial shares boosted the index.
[NEXT_CONCEPT]
The government's watchdog has issued a warning to students about the dangers of taking "smart drugs".
[NEXT_CONCEPT]
Richard Neville, the co-founder of 60s counterculture magazine Oz, has died aged 74 from Alzheimer's disease, his family have said.