Stocks Rise, Led by Retailers, Banks; Treasuries Advance

U.S. stocks rose, erasing early losses, as chain stores gained after retail sales grew more than forecast and JPMorgan Chase & Co. paced a rally in banks before reporting earnings. Treasuries climbed for a third straight day, pushing yields to near their lowest of the year.

The Standard & Poor’s 500 Index increased 0.1 percent to 1,472.34 at 4 p.m. in New York, returning to a five-year high after slipping as much as 0.5 percent earlier. The Dow Jones Transportation Average surged to a record. Ten-year Treasury note yields declined one basis point to 1.83 percent. Platinum jumped 1.6 percent as Anglo American Platinum Ltd. planned to reduce output, while oil fell from a four-month high. The yen rebounded versus the dollar and euro.