(RTTNews) - Stocks continue to show a lack of direction in mid-afternoon trading on Tuesday, as benign economic data has some traders remaining on the sidelines awaiting more meaningful catalysts. The major averages have been swinging between gains and losses over the course of the session.

This morning's batch of economic data has seen little reaction in the broader markets, with the Labor Department reporting a modest increase in producer prices in October, although core prices unexpectedly showed a moderate decline.

Separately, the Federal Reserve said that industrial production increased by less than expected in the month of October, with the report also showing a slightly smaller than expected increase in capacity utilization.

Earlier, consumer discretionary stocks saw some downside amid disappointing guidance from some key retailers, including Pacific Sunwear (PSUN), Home Depot (HD) and Target (TGT).

The major averages currently continue to see choppy trading, lingering near the unchanged mark. While the Dow is currently up 3.02 at 10,409.98, the Nasdaq is down 0.30 at 2,197.55 and the S&P 500 is down 2.03 at 1,107.27.

Dow Components

A slim majority of the Dow components are moving higher in mid-afternoon trading, contributing to the modest gain being shown by the blue chip index.
Microsoft (MSFT) is the Dow's leading percentage gainer, advancing by 1.8 percent. The stock is poised to end the session at its best closing price in roughly eighteen months.

Wal-Mart (WMT) and Merck (MRK) are also on the rise, advancing by 0.8 percent and 1.2 percent, respectively. Wal-Mart is on pace to close at its highest level in seven and a half months, while Merck is looking to set a fresh yearly high.

Cisco (CSCO), Exxon Mobil (XOM) and DuPont (DD) are also moving higher, while Home Depot is posting the sharpest percentage loss in the Dow, down by 3.2 percent. The stock is backing off of the nearly two-month closing high reached in yesterday's session.

Caterpillar (CAT) and McDonald's (MCD) are also retreating, sliding by 1.6 percent and 1.3 percent, respectively, pulling off of their best levels in over a year.

Sector News

Chemical stocks are showing considerable strength in mid-afternoon trading, with the S&P Chemical Index currently up 1 percent. With the gain, the index is poised for its best closing level in over a year.

Dow Chemical (DOW) is one of the sector's best performers, advancing by 1.7 percent. The stock is also looking to set a fresh yearly high.

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