INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines with Jane King, who has a look at holiday gas prices, Black Friday discounts, and the role of small businesses play in holiday shopping.
Gas prices could slide or hold steady for Thanksgiving
Gas prices have remained stable so far in November, reflecting an abundance of crude oil. That is not expected to change by Thanksgiving.
Prices are expected to continue to hold steady or even slide downward a few pennies as the thanksgiving travel period looms, which is welcome news for those planning to hit the highway to celebrate the holiday with family and friends.
AAA says the current average price in central Indiana is $.301 a gallon… down 3 cents from last Thanksgiving.
Black Friday discounts facing dark patch this year
Black Friday discounts could be stingier this year. Some business owners said sharply higher U.S. tariffs on imports are raising their costs, giving them less room to roll out aggressive holiday sales.
Retail analysts say there will be discounts and deals — that’s what Black Friday is about. Very few retailers will want to shun that completely, but I think they will be more selective in the discounting.
American farmers produce record corn and soybean crops
The U.S. Department of Agriculture is reporting a record crop this year.
The corn crop was pegged at corn crop at 16.75 billion bushels. That is down from the agency’s previous estimate of 16.81 billion bushels, but still the most corn ever produced by U.S. farmers.
Soybeans maintained their outlook for record-large yields in 2025/26, although there was no sign of China following through with its promise to purchase more U.S. soybeans.
Federal economic reports to resume this week
The government shutdown is over so economic reports will resume this week.
Amongst the highly anticipated economic indicators scheduled for release are the much-delayed employment figures for September and October existing home sales.
Small businesses make big impact on gifts
Nearly half of seasonal gifts come from small businesses, according to new research.
Conducted by Talker Research in partnership with Surepayroll by Paychex ahead of Small Business Saturday, the survey found 44% of shoppers purchase gifts from small businesses.
During the holiday season, twice as many people say they prefer to shop at small businesses instead of big box stores, especially Gen x and Millennials.