US stocks trading higher. S&P and NASDAQ at the highest levels since January 2022.

<p>The major stock indices are trading higher in early US trading. The gains are led by the Nasdaq index.</p><ul><li>S&amp;P and NASDAQ trades to the highest level since January 2022</li><li>Dow Industrial Average trades at its highest level all-time</li><li>Apple trades to a new record high</li><li>Adobe suffers after earnings after the close yesterday</li></ul><p>A snapshot of the markets 9-minutes past the open shows:</p><ul><li>Dow industrial average of 14.46 points or 0.04% at 37104.71</li><li>S&amp;P index up 17.94 points or 0.38% at 4725.02</li><li>Nasdaq index is up 83.89 points or 0.57% at 14817.86</li></ul><p>Rotation is happening in to the small-cap Russell 2000 on hopes of lower rates:</p><ul><li>Russell 2000 is up 56.03 points or 2.88% at 2003.53</li></ul><p>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. </p><p>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:</p><p>Apple shares have traded up to $199.56. That's all-time new high for that stock. </p><p>On the downside, Adobe is suffering today after earnings and guidance yesterday disappointed. Adobe shares are down $40 or -6.42% at $584.36.</p><p>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</p>

This article was written by Greg Michalowski at www.forexlive.com.