The Dow Jones Industrial Average soared an impressive 11.25 percent in the first three months of the year to log its best first-quarter performance since 1998. Interestingly, the blue-chip index has never finished a year in negative territory when the first quarter is up at least 8 percent.

Hewlett-Packard was the biggest gainer on the Dow for the quarter, skyrocketing more than 67 percent. Caterpillar and Alcoa were the only two blue-chip stocks to finish in the red.

The S&P 500 surged 10.03 percent, while the Nasdaq jumped 8.21 percent for the quarter, logging their fifth-straight monthly gains. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended below 13, plunging approximately 30 percent for the quarter.