* Futures up: Dow 26 pts, S&P 1.5 pts, Nasdaq 2.75 pts
By Yashaswini Swamynathan
May 9 (Reuters) - U.S. stock index futures rose on Tuesday as a favorable French election outcome and a robust first-quarter earnings season improved appetite for risk.
* A relief rally swept Wall Street and European stocks following Emmanuel Macron’s victory in the French presidential election on Sunday. Macron is seen as business friendly and pro-EU.
* The 10-year U.S. Treasury yield rose to its highest in a month, while gold prices fell, indicating a shift in investor preference for riskier assets.
* The S&P 500 and the Nasdaq hit record intraday highs on Monday, while the VIX, Wall Street’s “fear gauge”, closed at its lowest level since 1993.
* Solid first-quarter earnings have also helped quell some fears about valuations, which have been driven up by a rally following Donald Trump’s election as the U.S. president.
* S&P 500 earnings on average have grown 14.4 percent, up from 10.1 percent estimated at the start of the earnings season, according to Thomson Reuters I/B/E/S.
* With no major economic data expected on Tuesday, investors will focus on comments from a couple of Federal Reserve speakers, including Minneapolis Fed President Neel Kashkari.
* Marriott International’s shares rose 5 percent to $101.25 in light premarket trading after the hotel chain reported a higher-than-expected quarterly profit.
* Car rental company Hertz Global sank nearly 19 percent at $12.20 following a bigger-than-expected quarterly loss.
Futures snapshot at 6:49 a.m. ET:
* Dow e-minis were up 26 points, or 0.12 percent, with 14,411 contracts changing hands.
* S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 79,658 contracts traded.
* Nasdaq 100 e-minis were up 2.75 points, or 0.05 percent, on volume of 13,735 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Anil D‘Silva)