Lance Turner with Arkansas Business provided THV11 This Morning with a rundown of the morning's business headlines for Wednesday, Oct. 16, 2013.
Shutdown's Impact on Stocks
The stock market up and down all day on Tuesday as the on-again, off-again talk of a debt deal in Washington made investors wonder just how pessimistic they should be.
Stocks were flat or down all day, but the size of the losses depending on which politician happened to be giving a news conference at a given moment.
Indexes were down only slightly early Tuesday, when Republican and Democratic leaders in the Senate reported that a deal appeared to be getting closer.
But after House Republicans came up with their own competing plan later in the day, and it was rejected by Democrats, stocks fell further.
JB Hunt's revenue and expectations
JB Hunt Transport Services Inc. of Lowell is reporting third-quarter net income up 15 percent to $89.5 million.
This came after revenue improved across most of its business divisions, with sales up in its intermodal, dedicated contract services, and integrated capacity solutions segments.
Still, the trucking company's performance fell short of analysts' estimates. Analysts expected earnings of 78 cents per share -- JB Hunt, however, reporting 75 cents per share.
Wal-Mart's future plans
Wal-Mart Inc., the world's largest retailer, said at an annual investors conference that it plans to spend anywhere from 12 to 13 billion dollars in capital expenditures for fiscal 2015. That's $200 million lower than the revised projection for the fiscal year. The world's largest retailer says that for the first time it's accelerating its expansion of smaller stores at a faster pace than its supercenters in the U.S.
Overseas, it's closing some stores in China and Brazil as it aims to make those markets more profitable.
The company also said it expects overall net sales to be up 3 to 5 percent for fiscal 2015.
In the near term, however, Wal-Mart CEO Mike Duke says the partial government shutdown is weighing on shoppers and that the company is watching the development closely.
Duke describes the U.S. economy as "tough and unpredictable."