While U.S. stocks closed lower today, S&P posted its biggest first quarter gain since ‘99, and the Nasdaq its best since 2000. All new data points towards a resilient economy, and the future does look bright.

Today, the Dow Jones industrial average closed down 41.38 or 0.4% to 11,109.32, the Standard & Poor’s 500 index closed down 5.42 or 0.4% to 1,294.83, and the Nasdaq composite index closed down 1.03 to 2,339.79. For the quarter, the Dow gained around 3.7%, the S&P gained 3.7% and the Nasdaq closed up 6.1%. This has been the best first-quarter performance since 2000, when the Nasdaq gained 12.3%.

Market breadth was mixed. On the New York Stock Exchange. Losers barely topped winners on volume of 1 billion shares. On the Nasdaq, advancers edged out decliners as 1.3 billion shares exchanged hands.

Market sentiment took a turn for the better after release of data showing a rise in consumer spending in February, and a modest increase in personal incomes. This is a factor that eased wage-inflation fears. The prices component of the report, which is another gauge of inflation, came in unchanged. The consumer sentiment strengthened in late March, and the index rose to 88.9 points in late March from 86.7 in February. This is against the forecast 86.9. Orders for U.S. made manufactured goods rose a much weaker-than-expected 0.2% in February, against the expected rise of about 1.4%.

Shares of General Motors (NYSE: GM) initially fell over 3.4% before closing up $0.21 to $21.27. The United Auto Workers union said court approval to void the labor contract could lead to strike action. Delphi (OTC: DPHIQ.PK), filed motions in bankruptcy court to void its union contracts and said it was closing all but eight of its U.S. plants and looking to shed 28,000 workers. It said it would also seek to shed “unprofitable” supply contracts it currently has with General Motors Corp.

Dow Chemical (NYSE: DOW) closed down 1.2% at $40.60 after Prudential cuts its rating on the company to neutral weight from overweight, citing concerns over weakening demand. Germany’s SAP (NYSE: SAP) declined to comment on trader speculation that International Business Machines (NYSE: IBM) is preparing an offer for the software company. U.S. listed shares of SAP closed up 40 cents at $54.32, while IBM shares finished down 73 cents at $82.47.

Citigroup Inc. (NYSE: C) has been charged by the Australian securities regulator with insider trading, over buying shares of Patrick Corp. (Nasdaq: PATK) one day before one of the bank’s clients, Toll Holdings, launched a takeover bid for the company. While Citigroup has denied the charges, its shares finished down 5 cents at $47.23.

Oil prices declined, but still ended the session near $67 a barrel. U.S. light crude oil for May delivery fell 52 cents to settle at $66.63 a barrel on the New York Mercantile Exchange.