Why General Electric Stock Is Trading Higher Today

General Electric Company GE shares are trading higher by 6.2% at $14.24 Thursday afternoon. Strength appears market-related as stocks gain following better-than-expected U.S. jobless data and reports President Joe Biden will propose a $6 trillion budget.

GE is a global leader in air travel, precision health and energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world.

GE's installed base most notably includes aerospace engines, gas and steam turbines, onshore and offshore wind turbines, as well as medical diagnostic and mobile equipment. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin.

See also: How to Buy General Electric (GE) Stock