WSJ Timiraos is on X saying that the core PCE probably rose 0.27% in March according to forecasters given CPI and the PPI numbers for their models.. That would lower the YoY to 2.7% from 2.8%.
The market knows the Fed does not want to tighten. The market knows that the Fed sees rates as restrictive. The Fed also sees a strong employment market. The gains vs inflation has been great but given the economy, there is no need to ease now.
That does not mean the markets can not rally if the number declines to 2.7% from 2.8%. Also earnings will start to be a focus as well going forward.