Last Updated: March 31st, 2009: 5:12 PM ET---The major US equity indices closed the quarter on a session sporting significant gains, although off their various highs, as investors shrugged off a number of disappointing economic reports and started picking up beaten down financial and technology stocks. Financials (+6.2%) closed as the day's leader as buying power was triggered overseas by news that Barclays (NYSE:BCS) wouldn't be involved in the UK's asset-protection plan. Technology (+1.9%) followed, as large cap names like Microsoft (NASDAQ:MSFT) received considerable buying power following bullish analyst comments on PC sales in the US and China. Even with the S&P 500's record setting 8.5% surge for March, the benchmark index remained 11.7% lower for the first-quarter as investors remained reluctant to extend themselves, fearing another dead-cat bounce. The Dow closed 1.2% higher, to 7,609, the Nasdaq closed 1.8% higher to 1,529, and the S&P 500 closed 1.3% higher to 798.

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