# Daily Market Scan — 2026-04-13

## Executive read

A broad risk-on tape today, with US equities, semis, and small caps all higher and VIX (VXX) down -3.87%. The week's dominant theme is a powerful rebound across both US and China growth complexes — SMH +11.96%, ChiNext +10.38%, STAR 50 +9.48%, SZSE Component +7.90% on 1W — while Energy and Consumer Staples lag. The 6-month regime is bifurcated: commodities and US large-cap/industrials are constructive (USO +77.18%, XLE +30.15%, SMH +28.43%) while Hang Seng Tech (-27.85%) and IBIT (-39.50%) sit in deep drawdowns. 1Y breadth is unanimous (US sectors 8/8 positive, A-shares 5/5), but 3M breadth had been a coin-flip before this week's snapback.

## Today (1D)

- US equities broadly higher: S&P 500 +1.02%, Nasdaq Comp +1.23%, Dow Jones +0.63%, Russell 2000 +1.44%, with XLK (Tech) leading sectors at +2.10% and XLF (Financials) at +1.75%.
- Volatility compressed: VXX -3.87% (1D pct_rank 11.9), consistent with a risk-on session; XLP (Cons Staples) the lone laggard at -1.00%.
- USO (WTI Crude) +2.92% stood out among macro (1D pct_rank 88.49); GLD -0.40% and UUP -0.22% drifted lower.
- Hong Kong diverged: Hang Seng -0.90%, Hang Seng Tech -0.79%, against a positive mainland tape (SSE +0.06%, CSI 300 +0.21%, ChiNext +0.80%, STAR 50 +0.79%, SZSE +0.69%).

## This week (1W)

- Semis-led US melt-up: SMH +11.96% (1W pct_rank 98.02), XLK +6.46%, Nasdaq Comp +5.40%, Russell 2000 +5.04%, S&P 500 +4.15%; VXX -12.69% (pct_rank 4.37) confirms the vol crush.
- China growth rip: ChiNext +10.38% and SZSE Component +7.90% printed 1W pct_ranks of 99.6; STAR 50 +9.48%, CSI 300 +4.62%, SSE Composite +2.80%.
- Energy lagged the rotation: XLE -4.31% (1W pct_rank 1.98) and USO -7.54% (pct_rank 3.17) — defensive XLP also down -1.34%.
- EM and bitcoin proxies joined the bid: EEM +6.93% (pct_rank 98.41), IBIT +5.24%, FXI +2.56%; USD softened with UUP -1.62%.

## This month (1M)

- Semis and small caps lead 1M: SMH +14.22%, Russell 2000 +7.14%, EEM +7.23%, XLK +5.64%, XLF +5.80%; S&P 500 +3.20% and Nasdaq +3.91% are solid but not the top-tier movers.
- Defensives weak: XLP -3.20%, XLV -1.46%, XLE -0.70%; GLD -6.75% (1M pct_rank 6.35) is a sharp dent in the gold trade.
- China is mixed at 1M: ChiNext +4.79% holds up while SSE Composite -3.40% and CSI 300 -0.88% lag; A-shares breadth at 1M is 2/5 positive.
- USO (WTI Crude) +8.51% rebuilds the energy story even as XLE underperforms, suggesting the spread between crude and energy equities is widening.

## Half-year (6M)

- Commodity-tilted complex dominates: USO +77.18% (6M pct_rank 98.41), XLE +30.15% (pct_rank 93.25), SMH +28.43%, GLD +19.14%.
- US large-cap and industrials constructive: XLI +12.68%, Russell 2000 +8.13%, Dow Jones +4.01%, S&P 500 +2.24%; Nasdaq +0.69% and XLK +0.35% essentially flat.
- China large-cap and Hong Kong are the soft spots: FXI -10.00% (pct_rank 7.14), Hang Seng -5.96% (pct_rank 3.57), Hang Seng Tech -27.85% (pct_rank 0.0), STAR 50 -5.21%.
- Crypto in a hole: IBIT -39.50% (pct_rank 9.52, 6M max_dd -47.48%); TLT -2.72% and UUP -2.32% show a mildly easier dollar and modest rates drag.

## Year (1Y)

- Semis and crude dominate: SMH +110.28%, USO +90.10%, GLD +52.55%, EEM +48.26%; US sector 1Y breadth is 8/8 positive.
- US equity 1Y returns very strong: Russell 2000 +39.75%, XLK +42.85%, XLE +38.68%, XLI +36.27%, Nasdaq +35.38%, S&P 500 +26.19%, Dow +18.74% — all at 1Y pct_rank ≥98.02 for the indices/sectors flagged.
- China A-shares positive across the board: ChiNext +62.06%, SZSE +35.06%, STAR 50 +32.17%, SSE Composite +18.22%, CSI 300 +18.15%.
- Outliers in the red over 1Y: Hang Seng Tech -10.62%, IBIT -11.19%, UUP -3.22%, TLT -2.39%; VXX -56.37% (pct_rank 1.19) reflects a year of declining volatility.

## 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 | 6,886 | +1.02% | +4.15% | +3.20% | -1.15% | +2.24% | +26.19% | +0.40% |
| Nasdaq Comp | 23,184 | +1.23% | +5.40% | +3.91% | -2.06% | +0.69% | +35.38% | -0.22% |
| Dow Jones | 48,218 | +0.63% | +3.32% | +3.30% | -2.60% | +4.01% | +18.74% | -0.34% |
| Russell 2000 | 265.07 | +1.44% | +5.04% | +7.14% | +1.86% | +8.13% | +39.75% | +6.55% |
| VIX (VXX) | 29.58 | -3.87% | -12.69% | -14.14% | +14.87% | -10.98% | -56.37% | +13.33% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 145.61 | +2.10% | +6.46% | +5.64% | -0.37% | +0.35% | +42.85% | +0.91% |
| XLF (Financials) | 51.66 | +1.75% | +3.57% | +5.80% | -7.30% | -3.11% | +9.38% | -5.95% |
| XLE (Energy) | 57.11 | +0.30% | -4.31% | -0.70% | +22.37% | +30.15% | +38.68% | +25.10% |
| XLV (Healthcare) | 147.97 | +0.45% | +1.16% | -1.46% | -5.94% | +2.62% | +6.64% | -4.85% |
| XLY (Cons Disc) | 113.92 | +0.91% | +4.48% | +2.15% | -8.43% | -3.14% | +16.52% | -3.74% |
| XLP (Cons Staples) | 81.55 | -1.00% | -1.34% | -3.20% | +2.90% | +4.50% | +2.82% | +4.97% |
| XLI (Industrials) | 172.73 | +0.71% | +4.93% | +4.53% | +6.67% | +12.68% | +36.27% | +9.34% |
| SMH (Semis) | 443.34 | +1.48% | +11.96% | +14.22% | +13.90% | +28.43% | +110.28% | +18.76% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 3,989 | +0.06% | +2.80% | -3.40% | -0.87% | +4.19% | +18.22% | -0.87% |
| SZSE Component | 14,408 | +0.69% | +7.90% | +0.23% | +4.19% | +9.08% | +35.06% | +4.19% |
| CSI 300 | 4,646 | +0.21% | +4.62% | -0.88% | -1.52% | +2.11% | +18.15% | -1.52% |
| ChiNext | 3,476 | +0.80% | +10.38% | +4.79% | +5.52% | +10.31% | +62.06% | +5.52% |
| STAR 50 | 1,375 | +0.79% | +9.48% | -0.60% | -2.00% | -5.21% | +32.17% | -2.00% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 25,661 | -0.90% | +1.45% | -1.15% | -3.93% | -5.96% | +10.99% | -2.57% |
| Hang Seng Tech | 4,822 | -0.79% | +1.38% | -4.71% | -17.22% | -27.85% | -10.62% | -15.94% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.38 | -0.22% | -1.62% | -1.08% | +0.18% | -2.32% | -3.22% | +1.00% |
| GLD (Gold) | 435.36 | -0.40% | +1.80% | -6.75% | +5.04% | +19.14% | +52.55% | +9.31% |
| USO (WTI Crude) | 128.47 | +2.92% | -7.54% | +8.51% | +81.51% | +77.18% | +90.10% | +86.30% |
| TLT (20Y+ UST) | 86.75 | +0.30% | +0.12% | -0.25% | -1.34% | -2.72% | -2.39% | -0.32% |
| IBIT (Bitcoin) | 41.59 | +0.07% | +5.24% | +4.11% | -18.71% | -39.50% | -11.19% | -18.35% |
| EEM (EM equity) | 61.07 | +0.84% | +6.93% | +7.23% | +6.88% | +13.24% | +48.26% | +8.59% |
| FXI (China lg-cap) | 36.46 | +0.58% | +2.56% | +0.83% | -7.34% | -10.00% | +15.09% | -8.44% |
| US 10Y Yield | 4.3000 | -0.23% | -0.92% | +0.47% | +2.63% | +4.12% | +0.94% | +2.63% |

### Breadth & risk-on

| Horizon | US sectors + | A-shares + | risk_on_score |
|---|---:|---:|---:|
| 1D | 7/8 | 5/5 | 1 |
| 1W | 6/8 | 5/5 | 3 |
| 1M | 5/8 | 2/5 | 3 |
| 3M | 4/8 | 2/5 | 1 |
| 6M | 6/8 | 4/5 | 3 |
| 1Y | 8/8 | 5/5 | 3 |