Stocks Continue Light Trading, Able to Fend of Chinese Rate Spike (AMZN, AAPL)

Following the three day weekend for most investors, markets continue trading lightly between Christmas and New Years’ holidays. A strong percentage of offices are currently either closed, or not near capacity as employees take vacations. A snowstorm on the East Coast has hampered what have so far been encouraging retail sales during the past few months. The loss of shoppers on the day after Christmas, another traditionally huge sale day, is worrisome for the sector. In corporate news, Amazon (AMZN) has proclaimed their third generation Kindle as the best selling product of all time, and even Apple (AAPL) iPad owners buy and “love” the e-book reader.

Word on the Street

• Markets end the day mixed, off of lows after China’s interest rate increase.
• Oil hits a two year high near $91 a barrel as investment banks like JP Morgan (JPM) see $100 within sights.
• AIG (AIG) continues it’s recovery from financial disaster as it hits 52 week high.
• Retail sales upward trend is hindered by a powerful snowstorm that hit the East Coast the day after Christmas.
• Ford (F) plans to extend it’s automatic start-stop system aimed at reducing gas mileage on vehicles.
• Amazon (AMZN) proclaims its third generation Kindle is the best selling product of all time.
• Wind turbine manufacturer China Ming Yang Power Group’s (MY) IPO saw an initial surge, but will this be the next green energy company to succeed in China, or simply a sign of false hope at the peak of a bubble?

Interesting Tidbits

• Organizing your new years resolutions? Keep these tips in mind when setting long term goals to ensure completion.
• Ready to start 2011 off right? Here’s 10 things you need in order to improve your life.
• Did you know popular music can have an economic undertone?

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