European stocks are expected to extend gains Tuesday as global markets continue to rally in the wake of Emmanuel Macron's victory in the first round of Sunday's presidential elections in France.

Germany's DAX performance index, which hit an all-time high 12,456.18 points Monday, is likely to add around 40 points at the start of trading, according to financial bookmakers IG, while the CAC-40 in Paris is set for an 18 point advance after it ended Monday's session near a 9-year high of 5,295.47 points.

Britain's FTSE 100 is also set for an 18 point gain at the bell, with gains held down by modestly weakened oil stocks and a still-elevated pound sterling.

Overnight in Asia, the momentum in global equity markets carried over into the region for the second consecutive session, with the MSCI Asia ex-Japan benchmark rising 0.77% and Japan's Nikkei 225 adding around 0.88% into the close.

U.S. stocks are also poised to extend yesterday's rally, which saw the Dow Jones Industrial Average add 216 points, or 1.05%, by the close of trading and the broader S&P 500 gain 25.46 point, or 1.08%. The Nasdaq added 75.3 points, or 1.24%, to end the session at a record high 5,983.82 points.

Sentiment for the remainder of the week is likely to hinge upon the strength of corporate earnings reports, with around 190 S&P 500 companies reporting in what is expected to be the most active week in a least a decade. Caterpillar Inc. (CAT) - Get Report , DuPont (DD) - Get Report , Lookheed Martin Corp. (LMT) - Get Report , 3M (MMM) - Get Report , McDonald's Corp. (MCD) - Get Report , Coca-Cola Co. (KO) - Get Report and Eli Lilly & Co. (LLY) - Get Report are just handful of bluechip names publishing first quarter earnings this morning.

Investors are also primed for details on a comprehensive tax reform proposal from U.S. President Donald Trump, which he said in a Tweet last week would be available on Wednesday.

Early indications from U.S. futures prices suggest the Dow will gain around 33 points at the open, while the S&P is expected to add around 2.25 points.