US STOCKS-Market rises on earnings, drives S&P above 1,200

                                
 * Intel, JPMorgan post solid results
                                
 * Retail sales top estimates, CPI in line
                                
 * Indexes up: Dow 0.9 pct, S&P 500 1.1 pct, Nasdaq 1.6 pct
                                
 * For up-to-the-minute market news, click [STXNEWS/US]
 (Updates with Yum earnings, adds context on 52-week highs)
                                
 By Ryan Vlastelica
                                
 NEW YORK, April 14 (Reuters) - U.S. stocks notched a fifth
straight day of gains on Wednesday as stronger-than-expected
corporate results and March retail sales pushed the S&P 500
past 1,200 for the first time in 18 months.
                                
 Dow components Intel Corp <INTC.O> and JPMorgan Chase & Co
<JPM.N> paced the market after both posted better-than-expected
results. For details see [ID:nN1382801] and [ID:nN14181674].
                                
 JPMorgan was the top percentage gainer on the Dow, up 4
percent to $47.73, followed by Bank of America Corp <BAC.N>,
which was set to report results on Friday and rose 3.9 percent
to $19.40. Intel climbed 3.3 percent to $23.52.
                                
 "There were fairly high expectations for both JPMorgan and
Intel, so these beats show how much things are improving," said
Douglas Peta, an independent market strategist in New York.
                                
 More stocks hit a 52-week high on the New York Stock
Exchange than on any day since the end of December 2003. The
Nasdaq recorded its greatest number of 52-week highs since
January 2004.
                                
 The Dow Jones industrial average <.DJI> was up 103.69
points, or 0.94 percent, at 11,123.11. The Standard & Poor's
500 Index <.SPX> was up 13.35 points, or 1.12 percent, at
1,210.65. The Nasdaq Composite Index <.IXIC> was up 38.87
points, or 1.58 percent, at 2,504.86.
                                
 The strong earnings from JPMorgan and Intel and good
trading volume boosted investor sentiment after a revenue
disappointment from Dow component Alcoa Inc <AA.N>, which
kicked off the first-quarter earnings season on Monday.
                                
 While the large number of 52-week highs suggest broad-based
buying, momentum indicators also suggest the markets could be
overbought.
                                
 Also boosting sentiment were March retail sales, which rose
1.6 percent, the Commerce Department reported, beating
expectations for a 1.2 percent increase. The S&P retail index
<.RLX> climbed 1.2 percent. [ID:nN14374789]
                                
 "Everyone who said that the consumer was dead clearly has
to reconsider the obituary," Peta said.
                                
 Financial and technology sectors led gains on the broad S&P
500, which broke above 1,200 for the first time since September
2008 when Lehman Brothers collapsed.
                                
 The KBW Banks index <.BKX> surged 3.4 percent while
Citigroup Inc <C.N> gained 6.7 percent to $4.93 and was the
most actively traded stock on the New York Stock Exchange.
                                
 JPMorgan had "raised the bar" for other banks, Peta said,
adding that if Bank of America didn't "display the same
strength as JPMorgan, it is liable to give back today's
gains."
                                
 After the market's close, Yum Brands Inc <YUM.N>, which
operates Taco Bell, Pizza Hut and other restaurant chains,
reported adjusted first-quarter earnings that beat
expectations, sending the stock up 2.9 percent to $42.89 in
extended trading. [ID:nN14107000]
                                
 Earnings are also due this week from Google <GOOG.O>, which
was up 0.4 percent to $589, and General Electric <GE.N>, which
rose 2.1 percent to $19.35. GE is up more than 4 percent so far
this week.
                                
 U.S. economic activity strengthened in most regions in
March and early April, except for St. Louis where plans to
close several plants were announced, the Federal Reserve said
in its Beige Book. [ID:nWALEFE61X]
                                
 Energy stocks advanced after a surprise fall in U.S. crude
inventories, a positive sign for demand that sent May crude
futures up 2.3 percent to $85.99 per barrel. ConocoPhillips
<COP.N> gained 2.2 percent to $56.89. [ID:nSGE63D06A]
                                
 A note from analysts at Jefferies Equity Derivatives said
the gap between implied volatility and realized volatility
suggests investors are bracing for a more volatile market. The
Volatility Index <.VIX>, down 2.8 percent, is at its lowest
since 2007.
                                
 About 10.24 billion shares traded on the New York Stock
Exchange, the American Stock Exchange and Nasdaq, above last
year's estimated daily average of 9.65 billion.
                                
 Roughly three stocks rose for every one that fell on the
New York Stock Exchange, while on the Nasdaq, three stocks rose
for everyone that fell.
                                
 (Reporting by Ryan Vlastelica; Editing by Kenneth Barry)