thursday. first time that s happened sints 2008. gas prices dropping overnight by more than a penny to $3.82 a gallon. higher interest rates closing the market. the longest slump. 23.28%. the main dull prit culprit. off price stores like t.j. max and marshals are taking stock and you can take advantage when shopping for clothes, home goods and electronics. i want to bring in nathaniel myerson. what are they doing here? good news for holiday shoppers, christine. you can find great discounts and a ton of availability at t.j.
time since the pandemic started. costco, whole foods, sam s clubs are bringing back free samples. that s an important thing for stores. for new food brands, it s a way to get discovered. trader joe s says it s going to be focused on new products for its free samples. i spoke with one sample expert who said that 2023 is going to be, quote, a huge year for samples. a year of the sample. 2023. nathaniel myerson, cnn business, thank you, good to see you this morning. nasa and spacex launching three astronauts and a russian cosmonaut on a mission to the international space station. 5, 4, 3, 2, 1. ignition. crew members include nicole nan, the first native american woman in space and the first female commander of the spacex mission. they re due for a six-month
now $3.69 a gallon. the result of those rate increases, a jump in mortgage rates for the fifth week in a row. freddie mac says the 30 year fixed rate mortgage hit 6.3%. that s the highest since october 2008. up 6.2 last week and way above last year when it was 2.88%. the hike comes in the wake of another 75 basis point increase and mortgage rates have almost doubled since the year started. christmas. 92 days until christmas but it s coming early at walmart. the retail giant said it s starting the holiday shopping season at its stores and online as early as next month. it will start offering deeper deals and exclusive supplies of what it expects will be holiday hot sellers. cnn consumer reporter nathaniel myerson now. they re hiring, what, 40,000 workers? target starting to hire for the holidays. what s happening? walmart is hiring 40,000
because why would you ever share your vacation home with someone you wouldn t share your vacation with. sign of the times. some u.s. retail stores have a surprising plan for this season s unsold clothing. they re going to do what is called pack and hold. which means storing the extra merchandise in warehouses and then bringing it back next year. cnn s business reporter nathaniel myerson joins us now. what is the strategy. what stores are going to try this? reporter: right. so instead of discounting products to try to move them out of their stores really quickly, stores are going to rely on this pack and hold strategy. so some of the top retailers that we re seeing doing this include gap, gap said recently
as many new tvs or furniture, clothing, they re really focused on paying for the essentials like gas, groceries and rising rents. makes sense because everything is so expensive right now to run a household. nathaniel myerson, thank you so much. it was a moment that brought the nfl s greatest players to tears. also me as i watched it with my 7-year-old son, a super bowl champion pays tribute to his son as he s inducted into the hall of fame. (vo) get business internet from verizon, the network businesses rely on. ditch cable and switch to verizon business internet, withast, reliable solutions, nationwide. nd the perfect solution for your business. from the network businesses rely on.