* Stocks up: Dow 0.1 pct, S&P 0.2 pct, Nasdaq 0.3 pct

(Updates volume number in paragraph 6)

By Angela Moon

NEW YORK (Reuters) - Wall Street rose Wednesday,
led by gains in consumer stocks after a sales forecast from
discounter Target Corp temporarily quelled concerns
about consumer demand.

Shares of Target rose 2.5 percent to $51.95 after the
company said it expects same-store sales to increase 1 percent
to 3 percent in the third quarter and be up slightly more in
the fourth quarter. The outlook came a day after the stock
market rallied on higher-than-expected earnings from Wal-Mart
Stores and Home Depot.

"Deflation worries are what's been really pressuring the
market. But the news from Target today, on top of Wal-Mart and
Home Depot, is saying that we may not be in such a bad
situation," said Marc Pado, U.S. market strategist at Cantor
Fitzgerald & Co in San Francisco.

The consumer discretionary sector gained 0.9
percent, the biggest gainer among the S&P 500 sectors.

But volume remained low as typical for the summer
post-earnings period. The lack of a strong catalyst also kept
investors from betting on stocks.

Just 6.66 billion shares traded on the combined NYSE Arca,
Nasdaq and American Stock Exchanges, significantly lower than
last year's daily average of 9.65 billion.

The Dow Jones industrial average was up 9.69 points,
or 0.09 percent, at 10,415.54. The Standard & Poor's 500 Index
was up 1.62 points, or 0.15 percent, at 1,094.16. The
Nasdaq Composite Index was up 6.26 points, or 0.28
percent, at 2,215.70.

CBOE Volatility index , Wall Street's favorite
yardstick for investor anxiety, rose 1.1 percent to 24.59.

Randy Frederick, director of trading and derivatives for
Charles Schwab, said in a note that the intraday volatility
pattern "is still very much alive.

"Until we get a clear sentiment shift, the markets are
still catering mostly to those with a very short-term trading
bias, or a very long-term perspective. For everyone in between,
the gut-wrenching could continue for awhile," he said.

In late trading, General Motors Cofiled for an
initial public offering of stock, clearing a key hurdle toward
repaying taxpayers for a controversial bailout just over a year
after its bankruptcy.

GM's initial filing with U.S. securities regulators did not
say how many shares would be sold or give an expected price
range for what will likely be one of the biggest IPOs ever.

Warehouse club operator BJ'scut its earnings
forecast for the year, sending shares down 2.7 percent at
$42.14.

Farm equipment maker Deere & Co fell 1.9 percent to
$65.98 after it beat estimates but said sales were "far below
normal levels".

On the Nasdaq, Cisco Systems rose 1.6 percent to
$22.41, helping the tech heavy index.

Analog Devices Incrose 4.4 percent to $30.08 a day
after the microchip maker posted a quarterly profit that topped
estimates and issued a better-than-expected fourth-quarter
outlook.

On the New York Stock Exchange, advancers beat decliners 17
to 12. On Nasdaq, about 13 stocks rose for every 12 that fell.
(Reporting by Angela Moon, Editing by Kenneth Barry)