The Dow is back above 18,000

Stocks are rallying and the Dow crossed the 18,000 for the first time since early March.

Near 11:00 a.m. ET, the Dow was up 64 points, the S&P 500 was up 7 points and the Nasdaq was up 11 points.

General Electric’s massive sale of its assets is the big news story Friday. The stock rallied by more than 8% after it announced it will sell most of its GE Capital assets, totaling $US500 billion. Blackstone and Wells Fargo will buy nearly all its real-estate portfolio for $US26.5 billion.

In economic data, import prices fell 0.3% in March, better than the expectation for a 0.4% decline. The strong dollar and the oil crash have dampened import prices in recent months.

At 1 p.m. ET, Baker Hughes will publish the latest weekly data on US oil rig counts.

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