The stock market was volatile this morning after Senate leaders and the White House reached a deal on a $2 trillion stimulus package to revive the economy amid the coronavirus pandemic. However, stocks seemed to be trending upwards after 12:00 p.m EDT. Around 1:00 p.m EDT, The Dow Jones Industrial Average gained 1,048 points, or 5.06 percent. The S&P 500 was up 3.88 percent and the Nasdaq Composite gained 2.14 percent.
Several Arkansas companies have been affected as investors trade before the Senate votes this afternoon on the stimulus package.
Walmart’s stock has dropped by $5.53, or 4.81 percent of its value. The Bentonville retailer’s stock sat at 109.50 per share.
Windstream Holdings’ stock also dropped by 9.09 percent.
Other Arkansas companies like JB Hunt, ArcBest, Dillard’s and Tyson all saw a rise in their stocks.
JB Hunt Transport Services’ stock rose by 8.8 percent. ArcBest’s stocks rose by 4.82 percent. Dillard’s saw an increase of 0.085 percent. Tyson Foods saw an increase of 7.17 percent.
Investors have been eager for the federal government to step in and save the economy as the coronavirus forces more businesses to close.