European stocks higher Tuesday, with French stocks closing at a nine-year high as relief over a potentially market-friendly outcome in France's presidential election continued to boost sentiment.

The U.S. stock market extended its rally Tuesday, with the Dow jumping by triple-digits and the Nasdaq closing above 6,000 for the first time ever, as investors welcomed upbeat earnings and the possibility of corporate tax cuts. "Today is one of the busiest days in terms of corporate earnings releases, with 36 companies reporting before and after the market and so far earnings have been strong," said Michael Antonelli, equity sales trader at Robert W. Baird & Co.

Equities in Asia extended gains for a third session early Wednesday as sustained political optimism, currency tailwinds and the growing prospect of a U.S. tax overhaul whetted appetite for risk. Sparked by the success of centrist, market-friendly French presidential candidate Emmanuel Macron in the first round of the election on Sunday, investors have shed prevote caution and piled into risk assets.