Wall St flat but consumer shares gain

NEW YORK (Reuters) - Stocks were little changed on Wednesday as energy shares weighed, while a reassuring same-store sales forecast from Target pushed consumer stocks higher.

Target Corp said in a conference call it sees its third-quarter same-store sales up 1 to 3 percent, sending its shares up 2.7 percent at $52.04. The stock had earlier traded down about 3 percent as investors panned its quarterly results.

"Some of the comments from Target have driven people into wanting to start nibbling at the retailers or covering some shorts," said Michael James, senior trader at regional investment bank Wedbush Morgan in Los Angeles. James said the same-store sales guidance was better than had been feared.

The consumer discretionary sector <.GSPD> gained 0.9 percent and helped lift indexes off their lows.

Target also said it would open 20 or more new stores next year and more than 30 in 2012.

However, declining energy shares and lackluster earnings kept gains in check. The S&P 500 index was also trading around its 50-day moving average, struggling to break it decisively. The 50-day average is currently around 1,088.

The inability to push through that level with conviction is illustrative of an unenthusiastic market as investors reassess their outlook on the economy, said Kurt Brunner, portfolio manager at Swarthmore Group in Philadelphia, Pennsylvania.

"You don't have the energy to push it through and that might take a little while," Brunner said.

The Dow Jones industrial average <.DJI> dipped 8.93 points, or 0.09 percent, to 10,396.92. The Standard & Poor's 500 Index <.SPX> edged up 0.15 point, or 0.01 percent, at 1,092.69. The Nasdaq Composite Index <.IXIC> added 6.79 points, or 0.31 percent, to 2,216.23.

Despite an absence of economic data on Wednesday, worries over the strength of the recovery gave investors little reason to get into the market.

Farm equipment maker Deere & Co fell 2.6 percent to $65.51 after it beat estimates but said sales were "far below normal levels".

Warehouse club operator BJ's Wholesale Club Inc missed profit expectations, sending its shares down 3.1 percent at $41.95.

Energy shares fell as crude oil futures dropped more than 2 percent. Chevron Corp dropped 1 percent to $77.04 and Exxon Mobil Corp was off 1.5 percent to $59.90. Both were the biggest drags on the Dow industrials.

Gains in technology stocks help to temper declines as a 1.8

percent gain in Cisco Systems to $22.45 helped the Nasdaq fare better than the other indexes.

Analog Devices Inc rose 3.4 percent to $29.80 a day after the microchip maker posted a quarterly profit that topped estimates and issued a better-than-expected fourth-quarter outlook.

(Reporting by Leah Schnurr; Editing by Kenneth Barry)

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