Stocks cut early gains to trade little changed on Wednesday as investors reassessed economic data, focusing on the prospect of a long, slow recovery.

The data was better than expected, and the market likes that, but 'blah' is the best way still to define this recovery, said Peter Boockvar, equity strategist at Miller Tabak & Co in New York.

The Dow Jones industrial average <.DJI> edged up 5.91 points, or 0.06 percent, at 10,642.29. The Standard & Poor's 500 Index <.SPX> added 0.72 points, or 0.06 percent, to 1,121.18. The Nasdaq Composite Index <.IXIC> rose 1.91 points, or 0.08 percent, to 2,285.43.

(Reporting by Leah Schnurr and Angela Moon)