Some say it will take a Christmas miracle to save retail this year.
But Santa might have a trick up his sleeve. For the first time since 2005 the average price of a gallon of gas fell below $2.
What will motorists will do with that extra cash in their wallet -- as fill-ups that once cost $60 now ring up around $30? There's at least some speculation the money will be spent on retail items.
Make no mistake retailers are coming out deals this season. In fact, Jefferies & Co. analyst Daniel Binder said in a note to investors that, after going through "Black Friday" circulars, he found that two of the more aggressive discounters appear to be department stores Kohl's Corp. and J.C. Penney Co. , with discounts of about 50 percent off.
And more Internet retailers will offer special promotions on Cyber Monday, the day following the Thanksgiving weekend touted as the kickoff of the online holiday shopping season.
Of course this is a tough time for anyone who has lost a job. Let's make no mistake about that. But for those of you who are working, gas is down and prices at your favorite stores have been slashed.
And that leads to our Fast Money Reader Poll. If gas prices remain low and sale prices look atractive, will you spend more for the holidays?
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CNBC.com with wires