SmarTrend Midday Market Recap -- December 27, 2010

The major U.S. equity indices are trading lower Monday, following an interest rate boost by the central bank of China. On Sunday, The People's Bank of China hiked interest rates for the second time in a little over two months. Officials from the central bank said they plan to increase the benchmark lending rate to 5.81%, a boost of 25 basis points. The benchmark deposit rate will increase to 2.75%, also an increase of 25 basis points. Trading volumes are forecast to decrease in the aftermath of the northeastern blizzard, which interrupted rail and air travel. In corporate news, shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) are trading 3.55% lower midday at $32.62 after the company reported its fiscal Q2 financial results this morning. The firm reported results under expectations at $0.64, below estimates of $0.72, on revenue of $234.5 million. Boeing Co. (NYSE:BA) is slated to restart test flights of its Dreamliner on Thursday. Officials also said the airline will provide details next month on the scope of its seventh delivery schedule delay. The Dow Jones Industrial Average (DJI) is trading 0.22% lower at 11,547.46, the S&P500 (INX) is trading 0.08% lower at 1,255.81, and the Nasdaq Composite (IXIC) is trading 0.34% lower at 2,657.57.