Markets Insider US stock index futures rose sharply on Monday, tracking European and Asian stocks, as investors breathed a sigh of relief after the centrist candidate and market favorite, Emmanuel Macron, won the first round of the French presidential election.
Polls suggest Macron, a pro-European Union candidate, is expected to beat his right-wing rival Marine Le Pen in a deciding vote next month, reducing the chances of France taking a Britain-like shock step to exit the EU.
US investors are also gearing up for the busiest earnings week in at least a decade, with more than 190 S&P 500 members, including the heavyweights Alphabet and Microsoft, scheduled to report results.
Overall profit for S&P 500 companies is now estimated to have risen by 11.2% in the first quarter, compared with the 10.1% forecast at the start of the earnings season, according to Thomson Reuters I/B/E/S.
The S&P 500 financial sector had been the broader index's biggest underperformer last week as investors favored haven assets amid geopolitical risks.