From the Wall Street Journal’s "Stock Futures Waver Ahead of Central-Banker Panel" posted early Wednesday:
U.S. stock futures hovered ahead of a panel of major central bank officials that is expected to provide insight into their views on the economy, inflation and the path of monetary policy...
Stocks have started the week on a shaky note as a series of data releases showed that higher prices are weighing on consumer sentiment. Investors remained concerned about central banks tightening policy too aggressively while fighting inflation and causing a recession. The S&P 500 is down more than 2% so far this week and remains in a bear market, closing down just over 20% from its latest peak on Tuesday.
“We expect markets to tread water at best until we get a convincing signal that inflation has peaked. Our confidence in a soft landing has gone down even further and the market has headed that way as well,” said Arun Sai, a multiasset strategist at Pictet Asset Management.
Charts: Yahoo!Finance sees a neutral gap-up pattern. Max pain hasn't been updated yet.