Notable Midday ETF Movers 12/11: UUP, SPY, XRT Higher; GLD, USO, SMH Lower

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December 11, 2009 12:17 PM EST

HIGHER;

PowerShares DB US Dollar Index Bullish (NYSE: UUP) up 0.98% to $22.72. Increasing confidence in the U.S. is a pretty good signal that the Fed will raise rates to support the charge. The dollar is up to its highest level against the Euro since early-October.
SPDRs (NYSE: SPY) up 0.14% to $110.80. Shares of the S&P 500 Index ETF are pumped up on retail sales (see below).
SPDR S&P Retail (NYSE: XRT) up 0.60% to $35.20. Retailers are feeling a little better after data from the U.S. Census Bureau of the Department of Commerce reported that retail sales were up 1.3% in November, beating the consensus of 0.6%. Ex-autos still shows a 1.2% increase, versus the 0.4% market expectation.

LOWER:

SPDR Gold Shares (NYSE: GLD) down 1.8% to $108.82. As the dollar rises, the gold shall fall. Typically, when confidence is diminished in the USD, investors run to a precious commodity like gold to hedge. Gold is having a strong run, and is still one to watch, as talk on the Street is as fiery as ever.
United States Oil Fund LP (NYSE: USO) down 0.76% to $35.46. Again, oil, like gold, is usually a contrarian indicator to the U.S. dollar. The WTI futures are lower today, despite a positive forecast for consumption by the International Energy Agency today.
Semiconductor HOLDRs (NYSE: SMH) 0.96% lower to $26.69. National Semi (NYSE: NSM) posted better than expected earnings today, but shares of it, and the sector are lower in the late-morning session. The trend seems to be that if a chip maker beats expectations, it takes a hit on the day.

Standard & Poor's

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