(Bloomberg) U.S. stocks rose for the first time this week as improved earnings prospects at retailers and banks overshadowed a bigger-than-forecast drop in home sales and slowing demand for computer equipment.

The S&P 500 added 10.46 points, or 0.8 percent, to 1,336.91. The Dow rose 46.9, or 0.4 percent, to 12,247. The Nasdaq Composite Index increased 14.28, or 0.6 percent, to 2,293.03. About five stocks gained for every two that declined on the New York Stock Exchange.