Traders cheered the results of the French election as it removed a high-risk event from the global markets' calendar that had been worrying them for months.
Monday and this week are shaping up to be a classic "risk-on" rally, as they say on Wall Street, as the CBOE Volatility Index, a measure of investor fear, plummeted in early morning trading.
The was down more than 3 points, or 23 percent, in early trading Monday, on pace for its biggest drop since November.
If history is any guide, the rally this week may have another 2 percent to go for the with bank stocks leading the way.
CNBC, using Kensho, looked at what happened to financial markets when the VIX collapses by 20 percent or more over a week.
Here are the kinds of stocks that do well during a risk-on rally.
— CNBC's parent NBCUniversal is a minority investor in Kensho.