U.S. Stocks Gain on JPMorgan Earnings; Retail Sales Slip in March

U.S. stocks moved higher on Tuesday, buoyed by better-than-expected earnings from JPMorgan Chase (JPM) - Get Report . Stocks dismissed a surprise 0.3 percent drop in March retail sales. Economists had expected a 0.1 percent rise. The fall was driven by a steep decline in auto sales. Plus, five major banks failed a 'living will' test from the Federal Reserve. This means the Fed thinks these systemically important banks including JPMorgan Chase, Bank of America (BAC) - Get Report  and Wells Fargo (WFC) - Get Report  - are not strong enough to withstand a bankruptcy without affecting the rest of the financial system. TheStreet's Scott Gamm reports from Wall Street.