US stock futures edge up ahead of job openings data

• Dow Jones Industrial Average futures surge 0.08 %.

• S&P 500 futures advance 0.11%

• Nasdaq futures climb 0.24 %

Stock futures surged early Tuesday after their weakest month since March 2020 due to a hike in interest rate forecasts and ahead of the release of job openings data.

Dow Jones Industrial Average futures increased 0.08 %. The S&P 500 futures advance 0.11%, while the Nasdaq futures climb 0.24 %.

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The Federal Reserve said last Wednesday that it will begin decreasing its balance sheet after raising interest rates. The central bank laid out its criteria for "significantly" shrinking its balance sheet.

Meanwhile, Stocks have tumbled in erratic trading this month as investors try to gauge how soon the Federal Reserve will raise interest rates in response to rising inflation and the tight job market.

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In Monday trade, the S&P 500 rose 1.09 %. The Nasdaq Composite Index gained 2.38 %, while the Dow Jones Industrial Average gained 0.46 %.

Bond Market

At 5:25 am, the yield on the benchmark 10-year Treasury note dropped to 1.757 %. The 30-year Treasury yield ticks down to 2.083 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.

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Oil Prices

Brent crude futures, the global oil benchmark decreased 1.02 % to $88.35 a barrel. WTI Crude oil prices ticked down 0.96 % to $87.32 per barrel.

Meanwhile, The December Job Openings and Labor Turnover Survey will be released at 10 a.m. ET by the U.S. Bureau of Labor Statistics.

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More labor market data is expected to be released throughout the week, including the much-awaited non-farm payrolls report on Friday morning.