Bank stocks lighted up across Europe on Monday, collectively closing at a 16-month high as investors cheered the prospect of market-friendly Emmanuel Macron becoming France's next president. Macron-a former investment banker-is expected to win the May 7 runoff election against far-right candidate Marine Le Pen, who's pledged to hold a referendum on France's membership in the European Union if she were elected president.

U.S. stocks rallied to finish higher Monday, with major indexes advancing more than 1% and the tech-heavy Nasdaq scoring a record high close following a strong showing by centrist Emmanuel Macron in the French presidential election, which averted fears of a euroskeptic-only runoff.

Asian stocks were widely higher for a second day after the French presidential election, but gains again trailed those logged overnight in Europe and the U.S. Meanwhile, investors in Asia are on North Korea watch. Tuesday marks the 85th anniversary of the founding of North Korea's army, and North Korea observers have speculated that the county would test a nuclear device or missile.