AAP has been taking several initiatives to strengthen and streamline its supply chain to meet its customersвЂ™ needs. The company should benefit from a favorable outlook for auto aftermarket retailers due to the used car bubble and higher-maintenance needs of used vehicles. Plus, the companyвЂ™s Worldpac unit is a premier distributor of imported original equipment parts.

At the end of last year, the company operated 4,976 stores and serviced 1,277 independently owned Carquest stores. The market was supported by robust economic data from China and better than expected domestic housing data in the U.S.ДЄAP is one of the industryвЂ™s largest retailers of aftermarket automotive parts, tools, and accessories to do-it-yourself customers in North America. Stocks were mostly higher today, with both the S&P 500 and Dow Jones Industrial Average hitting new closing records.

Plus, initial jobless claims over the past week were 576,000, much less than the expected 710,000. Retail sales for March beat estimates coming in at 9.8% over February. So far, first-quarter earnings reports are easily beating estimates. Stocks finished much higher on Thursday after an influx of strong corporate earnings reports and upbeat economic data. Bitcoin hit a new record (above $64,000) as crypto platform Coinbase ( COIN ) officially started trading. Early gains were erased by the end of the day. The market was mixed again on Wednesday as JPMorgan Chase ( JPM ) and other U.S. Investors were also concerned with the FDA halting Johnson & JohnsonвЂ™s ( JNJ ) vaccine. Headline CPI rose 0.6% last, with a rise in gasoline prices accounting for half the increase. The market was mixed the following day as Wall Street digested an uptick in consumer price inflation and adverse vaccine developments.

Stocks finished slightly down on Monday as investors awaited corporate earnings reports and economic releases.

Used car prices skyrocket