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

Stocks opened higher after March retail sales increased for the first time this year.

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.

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