US stocks higher in midday trading; General Electric soars on deal news

Markets Associated Press

U.S. stocks are edging higher in midday trading as investor look over the latest corporate earnings.

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General Electric soared 8 percent Friday, the most in the Dow Jones industrial average, after the company said it would sell most of its financial services arm and focus on its industrial businesses.

The Dow was up 75 points, or 0.4 percent, at 18,034 as of 11:55 a.m. Eastern time.

The Standard & Poor's 500 index rose eight points, or 0.4 percent, to 2,099. The Nasdaq composite increased 15 points, or 0.3 percent, to 4,989.

AngioDynamics sank 9 percent after the medical device maker posted disappointing results in the fiscal third quarter and lowered its expectations for the year.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.94 percent.