GE‘s stock has entered bull-market territory

Shares of General Electric Co. rallied on Monday, with the industrial conglomerate on track to close at its highest level in nearly four months and officially entering bull-market territory. The stock rose 3.7% to $15.51, which would represent its highest close since Feb. 2. The stock, while remaining a weak performer thus far this year and over the past 12 months, has recently shown signs of having turned a corner. It is up about 22% from its 52-week low, which officially puts the Dow component into bull-market territory, having broken out of a lengthy bear-market stretch. However, GE remains down 11.2% for 2018, and it has lost nearly 45% of its value over the past 12 months. The day‘s gains came on news that the multinational conglomerate‘s transportation unit would merge with railroad-equipment maker Wabtec Corp. in a deal valued at $11.1 billion. The Dow Jones Industrial Average rose 1.4% while the S&P 500 was up 0.9% and the Nasdaq Composite Index added 1%. All three major indexes were on track to close at a two-month high.