US stocks ended mixed on Wednesday, with the Dow Jones Industrial Average and S&P 500 closing higher after a late rally. The indices recovered from losses suffered earlier in the session, which were triggered by data showing that the economy contracted in the first quarter for the first time in three years. According to the Commerce Department, its advance gross domestic product (GDP) report showed a 0.3 percent contraction for the first quarter.

The Dow Jones Industrial Average rose over 0.35 percent, and the S&P 500 marked its seventh consecutive day of gains, rising by 0.15 percent. Meanwhile, the Nasdaq Composite ended nearly flat.

A separate report from the Commerce Department’s Bureau of Economic Analysis on monthly consumer spending, which accounts for more than two-thirds of economic activity, showed a jump of 0.7 percent in March.