Since the Average Hourly Earnings YoY for March came in as expected, it suggests that wage growth is stable, which typically does not prompt immediate market reactions. Therefore, the SPDR S&P 500 ETF Trust (SPY), which tracks the performance of the S&P 500, is likely to see a neutral short-term impact. The data aligns with market expectations, suggesting no immediate need for adjustments in monetary policy or investor outlook on the broader economy.