The major stock indices are trading higher in early US trading. The gains are led by the Nasdaq index.
- S&P and NASDAQ trades to the highest level since January 2022
- Dow Industrial Average trades at its highest level all-time
- Apple trades to a new record high
- Adobe suffers after earnings after the close yesterday
A snapshot of the markets 9-minutes past the open shows:
- Dow industrial average of 14.46 points or 0.04% at 37104.71
- S&P index up 17.94 points or 0.38% at 4725.02
- Nasdaq index is up 83.89 points or 0.57% at 14817.86
Rotation is happening in to the small-cap Russell 2000 on hopes of lower rates:
- Russell 2000 is up 56.03 points or 2.88% at 2003.53
Another barometer for riskier small-cap stocks is Cathie Woods Ark Innovation Funds (ARKK). Its price is up $1.98 or 3.96% at $52.16. Looking at the chart below, the price moved/gapped above the high from August. Technically, yesterday the low stalled at the 100 hour MA. Is it time? Technically, the pair is breaking again.
![Ark Innovation](https://images.forexlive.com/images/Ark%20Innovation_id_a2c7dd6e-4c2c-4f5c-81aa-3dad409d37d2_original.jpg)
This is what it looks like on the daily chart. Getting above $53.86 is the next key target that could/should open the upside more:
![ARKK](https://images.forexlive.com/images/ARKK_id_a3462514-f021-4983-b07d-934a5fc5834b_original.jpg)
Apple shares have traded up to $199.56. That's all-time new high for that stock.
On the downside, Adobe is suffering today after earnings and guidance yesterday disappointed. Adobe shares are down $40 or -6.42% at $584.36.
Caterpillar shares are enjoying the lower rates with a gain of $9.70 or 3.62% at $277.67. Yesterday it shares moved above its 100-day moving average of $264.36