Stock futures rose this European afternoon, following the S&P 500's third straight weekly winning streak, as investors shifted focus to a key inflation report this week.

As of 3:20 p.m. CET, futures on the Dow Jones Industrial Average gained 139 points or 0.4%. S&P 500 futures and Nasdaq Composite futures advanced 0.5% and 0.6%, respectively.

Today’s gain follows a weekly rise for the S&P 500 and the Nasdaq Composite as a surprisingly strong monthly jobs report eased some recession fears. The seemingly resilient U.S. labor market also signaled that the economy could withstand more rate hikes from the Federal Reserve.

Anticipation of more aggressive policy from the central bank led to a selloff in Treasurys, and sent yields higher, with the yield on the 10-year Treasury note at 2.83%.

Energy companies led gains on the S&P 500 as the price of crude oil rebounded from a near-six-month low of $87 per barrel on Thursday last week. Constellation Energy (CEG) shares rose over 10%, while shares of EOG Resources (EOG) climbed 7%. APA Corp. (APA), Diamondback Energy (FANG), Devon Energy (DVN), and Hess Corp. (HES) shares were also higher. Some clean energy related shares also gained after the U.S. Senate passed a $430 billion climate bill, the Inflation Reduction Act, which is expected to be passed by the House later this week. The Invesco Solar ETF was higher by 1.7% in early trading.

Tesla (TSLA) announced on Friday that it is finally going to perform its long-awaited 3-for-1 stock split and the stock dividend is coming on August 24. Tesla’s last stock split dates back just a few years ago in 2020. At the time, Tesla’s stock was trading at around $1,300 a share, but the stock-split announcement sent its stock price surging to a record high of $2,000 a share.

Shares of defense tech company Palantir (PLTR) plummeted more than 13% in premarket trading after the company reported a surprise loss for the Q2. Palantir loss 1 cent per share on $473 million of its revenue. Consensus estimate expected 3 cents of positive earnings per share on $471.3 million of revenue.

European markets are trading broadly higher today. At the time of writing, the Stoxx Europe 600 Index surged 0.95%, British FTSE 100 rose 0.75% while the French CAC 40 Index soared 1.18%, and German DAX gained 0.86%. The annual inflation rate in Greece somewhat eased to 11.5% in July from the 19-year high level of 12.1% in June – perhaps, due to seasonal factors. The Swiss unemployment rate, meanwhile, remained at just 2% in July.

Meanwhile, Asian markets traded mostly higher earlier this morning. Japan’s Nikkei 225 rose 0.26%, while China’s Shanghai Composite edged higher 0.31%, Australia’s S&P/ASX 200 gained 0.1%, India’s S&P BSE Sensex rose 0.7%, but Hong Kong’s Hang Seng Index fell 0.77%.