# Daily Market Scan — 2026-04-10

## Executive read

US stocks closed mixed on the day, with the Nasdaq Comp +0.35% and SMH +1.53% offsetting a -0.11% S&P 500 and a -0.56% Dow, while China and Hong Kong drove the day's risk-on tone (ChiNext +3.78%, SZSE Component +2.24%, CSI 300 +1.54%, Hang Seng Tech +0.80%). The dominant weekly theme is a broad bounce: 7 of 8 US sectors are positive 1W, A-shares are 5/5 positive 1W, and SMH is +11.36% on the week. The 6-month regime is bifurcated — energy and gold-led real assets are the durable winners (XLE +28.00%, GLD +17.41%, USO +69.75% 6M), while Hang Seng Tech (-24.83% 6M) and IBIT (-40.68% 6M) sit at the other extreme. On a 1Y view every US sector is positive (8/8) and the leadership is concentrated in semis (SMH +142.78%) and Tech (XLK +58.70%), with VIX (VXX) -63.98% over the year.

## Today (1D)

- Mainland China led globally: ChiNext +3.78% (pct_rank 98.02), SZSE Component +2.24% (96.43), CSI 300 +1.54% (94.84), STAR 50 +1.53% (83.73), SSE Composite +0.51%.
- US large-caps split: Nasdaq Comp +0.35%, SMH +1.53% and XLK +0.39% positive, while S&P 500 -0.11%, Dow -0.56%, and Russell 2000 -0.25% closed lower.
- Defensives and financials lagged within the US tape: XLV -1.35%, XLP -1.29%, XLF -1.09%; VIX (VXX) +1.25% (pct_rank 73.02). US sector breadth was 3/8 positive with a risk_on_score of 1.
- Commodities and crypto diverged: USO -1.69%, GLD -0.18%, while IBIT +1.59% and the US 10Y yield rose +0.47% to 4.31; UUP -0.15%.

## This week (1W)

- Semis powered the bounce: SMH +11.36% (pct_rank 98.02) with max_dd 0.00 over the week; XLK +4.88%, XLI +4.73%, XLY +4.38% rounded out the US leaders.
- US sector breadth was 7/8 positive 1W (risk_on_score 3); the lone laggard was XLE at -3.90% (pct_rank 4.37).
- Greater China was uniformly higher: ChiNext +8.70%, STAR 50 +8.11%, SZSE Component +6.10%, Hang Seng Tech +4.53%, Hang Seng +4.46%, CSI 300 +3.52%, SSE Composite +1.71% — A-shares 5/5 positive.
- Risk metrics softened: VIX (VXX) -11.33% (pct_rank 4.76), UUP -1.51%, US 10Y yield -0.92%, while IBIT +9.45% and EEM +7.02% (pct_rank 98.81); USO -9.50% (pct_rank 1.98) was the macro outlier.

## This month (1M)

- US leadership remained narrow and semis-tilted: SMH +8.94%, Russell 2000 +3.34%, XLF +2.28%, XLI +1.20%, XLK +1.56%, with the S&P 500 +0.61% and Nasdaq Comp +0.82%.
- US sector breadth was 4/8 positive 1M (risk_on_score 3); XLV -3.62%, XLP -2.62%, XLY -1.10% and XLE -0.07% sat below the line.
- Gold weakened sharply on the month: GLD -8.21% (pct_rank 4.76, max_dd -15.87), even as the 1Y print remains +58.84%.
- A-shares cooled relative to the weekly bounce: SSE Composite -3.56%, STAR 50 -2.61%, CSI 300 -1.44%, SZSE Component -1.08%, with only ChiNext +2.96%; A-shares breadth 1/5 positive 1M.

## Half-year (6M)

- Real-asset leadership dominates 6M: USO +69.75% (pct_rank 97.22), XLE +28.00% (89.68), SMH +26.24%, GLD +17.41%, EEM +11.14%, XLI +10.24%.
- US sector breadth was 5/8 positive 6M; XLF -5.12% (pct_rank 9.13), XLY -4.49% and XLK -1.87% lagged, while XLP +5.89% and XLV +1.94% held up.
- The China/HK split is stark: SZSE Component +6.42%, ChiNext +6.58%, SSE Composite +3.45% — against Hang Seng -3.58% (pct_rank 5.95), Hang Seng Tech -24.83% (0.79), FXI -11.69%, STAR 50 -7.46%.
- Defensive/duration assets were soft: TLT -3.09%, UUP -1.44%, IBIT -40.68% (pct_rank 7.14, max_dd -48.47); US 10Y yield +4.11% over the half-year.

## Year (1Y)

- US sector breadth was 8/8 positive 1Y (risk_on_score 3), led by SMH +142.78% (pct_rank 99.60), XLK +58.70%, XLE +48.98%, XLI +47.33%; XLP +7.88% and XLV +10.78% trailed but were still positive.
- US index leadership: Nasdaq Comp +50.01%, Russell 2000 +49.47%, S&P 500 +36.81%, Dow Jones +27.28%, all at pct_rank 99.60. VIX (VXX) -63.98% with max_dd -69.85% (pct_rank 0.00).
- Commodities were the standout: USO +97.06% (pct_rank 99.60), GLD +58.84%, with EEM +57.22% reinforcing the EM-plus-real-assets theme.
- Greater China laggards relative to global tape: Hang Seng +10.53% (pct_rank 8.73), Hang Seng Tech -11.74% (pct_rank 8.33), FXI +22.51% (pct_rank 23.81); IBIT -4.66% and TLT -2.11% the only macro names with negative 1Y prints alongside HSTECH and VXX.

## News context

_(No news headlines available — historical backfill; the RSS news corpus is 7-day-rolling and does not cover this date.)_

## Data issues

None.

## Snapshot & multi-horizon returns

### US equity (indices)

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| S&P 500 | 6,817 | -0.11% | +3.56% | +0.61% | -1.51% | +0.94% | +36.81% | -0.61% |
| Nasdaq Comp | 22,903 | +0.35% | +4.68% | +0.82% | -2.46% | -0.61% | +50.01% | -1.43% |
| Dow Jones | 47,917 | -0.56% | +3.04% | +1.05% | -2.74% | +2.82% | +27.28% | -0.96% |
| Russell 2000 | 261.30 | -0.25% | +3.98% | +3.34% | +1.17% | +5.91% | +49.47% | +5.03% |
| VIX (VXX) | 30.77 | +1.25% | -11.33% | -4.62% | +17.22% | -7.43% | -63.98% | +17.89% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 142.62 | +0.39% | +4.88% | +1.56% | -1.12% | -1.87% | +58.70% | -1.16% |
| XLF (Financials) | 50.77 | -1.09% | +2.50% | +2.28% | -9.18% | -5.12% | +15.60% | -7.57% |
| XLE (Energy) | 56.94 | -0.68% | -3.90% | -0.07% | +22.32% | +28.00% | +48.98% | +24.73% |
| XLV (Healthcare) | 147.31 | -1.35% | +0.34% | -3.62% | -6.84% | +1.94% | +10.78% | -5.27% |
| XLY (Cons Disc) | 112.89 | +0.13% | +4.38% | -1.10% | -8.16% | -4.49% | +28.04% | -4.61% |
| XLP (Cons Staples) | 82.37 | -1.29% | +0.59% | -2.62% | +5.01% | +5.89% | +7.88% | +6.02% |
| XLI (Industrials) | 171.52 | -0.39% | +4.73% | +1.20% | +7.09% | +10.24% | +47.33% | +8.57% |
| SMH (Semis) | 436.88 | +1.53% | +11.36% | +8.94% | +15.28% | +26.24% | +142.78% | +17.03% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 3,986 | +0.51% | +1.71% | -3.56% | +0.44% | +3.45% | +18.33% | -0.92% |
| SZSE Component | 14,309 | +2.24% | +6.10% | -1.08% | +5.80% | +6.42% | +34.44% | +3.48% |
| CSI 300 | 4,637 | +1.54% | +3.52% | -1.44% | +0.14% | +0.94% | +18.30% | -1.72% |
| ChiNext | 3,449 | +3.78% | +8.70% | +2.96% | +7.67% | +6.58% | +61.17% | +4.68% |
| STAR 50 | 1,364 | +1.53% | +8.11% | -2.61% | +1.51% | -7.46% | +32.60% | -2.77% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 25,894 | +0.55% | +4.46% | +1.91% | -1.72% | -3.58% | +10.53% | -1.69% |
| Hang Seng Tech | 4,860 | +0.80% | +4.53% | -1.65% | -15.35% | -24.83% | -11.74% | -15.27% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.44 | -0.15% | -1.51% | -0.40% | +0.62% | -1.44% | -2.87% | +1.22% |
| GLD (Gold) | 437.13 | -0.18% | +1.80% | -8.21% | +6.23% | +17.41% | +58.84% | +9.75% |
| USO (WTI Crude) | 124.82 | -1.69% | -9.50% | +15.52% | +76.95% | +69.75% | +97.06% | +81.00% |
| TLT (20Y+ UST) | 86.49 | -0.24% | -0.35% | -0.75% | -0.98% | -3.09% | -2.11% | -0.62% |
| IBIT (Bitcoin) | 41.56 | +1.59% | +9.45% | +3.72% | -19.33% | -40.68% | -4.66% | -18.41% |
| EEM (EM equity) | 60.56 | +0.46% | +7.02% | +2.94% | +6.49% | +11.14% | +57.22% | +7.68% |
| FXI (China lg-cap) | 36.25 | -0.11% | +1.94% | -0.41% | -7.99% | -11.69% | +22.51% | -8.97% |
| US 10Y Yield | 4.3100 | +0.47% | -0.92% | +0.94% | +3.11% | +4.11% | +3.86% | +2.86% |

### Breadth & risk-on

| Horizon | US sectors + | A-shares + | risk_on_score |
|---|---:|---:|---:|
| 1D | 3/8 | 5/5 | 1 |
| 1W | 7/8 | 5/5 | 3 |
| 1M | 4/8 | 1/5 | 3 |
| 3M | 4/8 | 5/5 | 1 |
| 6M | 5/8 | 4/5 | 3 |
| 1Y | 8/8 | 5/5 | 3 |