Wall Street little changed but heads for monthly gains

Most US stock indices were little changed today but headed for monthly and quarterly gains.

Wall Street sustained massive losses in the first week of the month as investors expressed concerns about seasonal changes and the potential economic recession.

But the stock market recovered quickly and marked three successive weekly profits as the Federal Reserve voted to cut interest rates by 50 basis points.

On trading, Dow Jones fell 0.2%, or 105 points as of 15:26 GMT to 42,207, while S&P 500 stabilized at 5737, while NASDAQ shed 0.1% to 18,128.