analysts’ forecasts, though the automotive aftermarket parts company struck a cautious tone on the year ahead.
“As we begin the year, we remain cautious surrounding the macroeconomic backdrop, including the potential for ongoing pressure on low to middle income consumers,” said Advance Auto Parts CEO Tom Greco. In other news, Arconic Corp surged more than 19% on reports the aluminum products maker has attracted buying interest from private-equity company Apollo Global Management.in February fell to its lowest reading since November, pointing to signs strong consumer spending, which has underpinned strong growth so far this year, may be starting to slow.
“The data today continue to show that the Fed's job is very tough. Consumers are only just barely starting to reign in their spending plans, but they still see good strength in the labor market,” Jefferies said in a note. The broader market’s slip in February was pressured by a surge in rates as strong economic data forced investors to play catch-up and
6% is crazy
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