Stocks Gain on JPMorgan, Wells Fargo Beat; Retail Sales Climb

Stocks opened higher after March retail sales increased for the first time this year. The recovery marks a positive given retail makes up one-third of total consumer spending, though economists had expected a slightly sharper increase. March producer prices were also higher, the first gain since October. JPMorgan (JPM) was moving higher after reporting a 12% jump in first-quarter profit driven by an increase in fixed-income trading revenue. Wells Fargo (WFC) was lower after breaking an 18-quarter streak of earnings growth. Nokia (NOK) and Alcatel-Lucent (ALU) were in focus after confirming they are in advanced deal talks.