Financial markets in the U.S. and around the world had been largely pricing in a victory for Clinton over Republican nominee, Donald Trump. However, market expectations for Congress, had been for the House to remain under GOP control while the Senate flips in favor of the Democrats.
The S&P 500 advanced more than 2 percent on Monday. It snapped a nine-day losing streak, its longest since December 1980. The Nasdaq composite outperformed, rising 2.4 percent. The three major indexes also posted their best day since March 1.
But investors are set for a bout of caution after the rally Monday. In Europe, the pan-European Stoxx 600 was slightly higher and most Asian bourses eked out modest gains overnight.
On the data front, the Job Openings and Labor Turnover Summary (JOLTS) is due at 10.00 a.m. ET.
Companies of note that reported Tuesday include Valeant Pharma and Momo.
—CNBC's Fred Imbert contributed to this article.