Sheetz is slashing gas prices by 40 cents ahead of Thanksgiving

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Sheetz is slashing gas prices.

Transcript

00:00I'm Conway Gittins reporting from New York City. Here's what we're watching on the street today.

00:03The Dow was an out-performer Thursday with investors relieved about the economy.

00:08Weekly jobless claims dropped to a seven-month low and existing home sales jumped 3.4% in October.

00:15The median sales price rose to $407,200.

00:19On the corporate front, it was a wobbly session for Nvidia, the world's most valuable company.

00:24Investors deemed the AI chip leaders' quarterly results as good, but not good enough.

00:29In other news, gas station operator Sheetz is giving drivers something else to be thankful for this Thanksgiving holiday.

00:36It is dropping the price on unleaded gas number 88 by 40 cents per gallon through the end of November.

00:43The discount is only available at the 505 locations where this specific type of gas is sold.

00:49Sheetz is making a strategic calculation that customers will be drawn to the lower price at the pump

00:55and then spend more inside its convenience stores.

00:58The national average for non-premium unleaded gas will be under three bucks for Thanksgiving, according to GasBuddy.

01:04Last year this time, the national average was $3.30, according to AAA.

01:09Gas stations all over the country are expected to be busier than last year.

01:14AAA predicts some 80 million people will hit the road for Thanksgiving.

01:17That's 1.7 million people more than last year, with the bulk of that increase coming from automobile travel.

01:24That'll do it for your daily briefing from New York City. I'm Conway Gittins with the Street.