# Daily Market Scan — 2026-04-14

## Executive read

Risk assets pushed sharply higher with broad participation: the S&P 500 rose +1.18% to 6,967.38 and the Nasdaq +1.96% to 23,639.08, while VXX fell -1.22% on the day and -16.56% on the week. The dominant weekly theme is a synchronized rally — US sectors 7/8 positive, A-shares 5/5 positive, semis (SMH) up +13.03% in a week and EM (EEM) up +8.60% — set against an energy reversal where XLE dropped -7.00% on the week and USO -10.31%. The 6-month regime shows leadership concentrated in energy (XLE +31.31%, USO +78.48%), semis (SMH +38.93%) and EM/gold (EEM +19.83%, GLD +20.58%), with Hong Kong tech (HSTECH -26.74%) and IBIT (-36.36%) as the conspicuous laggards. On a 1Y view US sector breadth is 8/8 positive and A-shares 5/5 positive, with the 1Y pct_rank at or above 98 for S&P, Nasdaq, Dow, Russell 2000, XLK, XLE, XLI, SMH and EEM.

## Today (1D)

- Risk-on tape with high pct_ranks: Nasdaq +1.96% (pct_rank 94.84), S&P 500 +1.18% (93.25), Russell 2000 +1.38% (86.11), Dow +0.66% (79.37); VXX -1.22%.
- Sector dispersion was wide: XLY +2.21% (pct_rank 96.03) and XLK +1.60% (89.29) led, while XLE -2.03% (3.57) and XLP -0.10% (44.05) lagged.
- Semis and EM joined the bid: SMH +1.95% (82.14), EEM +1.92% (93.65), FXI +1.18% (82.94); China onshore was firm with ChiNext +2.36% (90.08), STAR 50 +2.17% (91.27), SZSE Component +1.61% (87.70).
- Macro split: GLD +2.23% (90.08) and TLT +0.53% (76.59) rose alongside equities, while USO -3.60% (3.57), UUP -0.22% (27.78) and the US 10Y yield -0.93% (17.86) fell.

## This week (1W)

- US equities posted very high weekly pct_ranks: S&P 500 +5.30% (pct_rank 98.02), Nasdaq +7.36% (97.62), Dow +4.19% (97.62), Russell 2000 +6.25% (98.41); VXX -16.56% (1.59).
- Sector leadership: SMH +13.03% (99.21), XLY +8.04% (98.41), XLK +7.65% (95.63), XLI +5.52% (97.22); XLE -7.00% (0.00) was the clear outlier.
- China A-shares ran hard: ChiNext +12.58% (99.60), STAR 50 +10.29% (97.62), SZSE Component +9.25% (99.60), CSI 300 +5.87% (99.60), SSE Composite +3.51% (97.22). All five A-share names positive on the week.
- Macro mix: EEM +8.60% (99.21), IBIT +7.75% (92.86), GLD +3.08% (74.60), FXI +3.97% (93.25); USO -10.31% (1.19), UUP -1.55% (7.54), US 10Y yield -1.62% (20.63).

## This month (1M)

- US indices and small caps strong: Russell 2000 +8.97% (pct_rank 95.63), Nasdaq +6.94% (87.70), S&P 500 +5.05% (87.70), Dow +4.25% (86.90); VXX -16.75% (12.30).
- Within sectors, SMH +16.70% (93.65) and XLK +8.14% (83.73) led growth; XLF +5.91% (92.46), XLI +5.28% (74.60) and XLY +5.03% (80.56) participated; XLV -0.64% (36.11), XLE -3.03% (13.10) and XLP -3.86% (8.33) lagged.
- EM and HK split: EEM +9.58% (94.44) and FXI +1.79% (56.75) positive, while Hang Seng -0.10% (40.87) and HSTECH -4.01% (36.90) were soft; ChiNext +7.50% (73.02) and SZSE Component +2.52% (51.59) led China.
- Macro: GLD -3.42% (8.73) cooled, USO +3.30% (57.14) was modestly positive, TLT +0.77% (67.06), IBIT +4.36% (66.27); UUP -2.04% (17.06).

## Half-year (6M)

- US sector breadth 7/8 positive (risk_on_score 3). Leaders: SMH +38.93% (pct_rank 71.43), XLE +31.31% (94.05), XLI +15.64% (84.13). Lagger: XLF -0.73% (16.27).
- Indices clustered: S&P 500 +6.33% (47.22), Nasdaq +6.46% (43.65), Dow +6.72% (51.59), Russell 2000 +13.01% (53.97); VXX -22.02% (48.81).
- China & HK divergence: SZSE Component +8.61% (34.92), ChiNext +9.90% (30.56), SSE Composite +4.25% (30.16), CSI 300 +1.76% (29.76); STAR 50 -4.44% (5.56), Hang Seng -4.67% (5.56), HSTECH -26.74% (0.40), FXI -3.76% (12.30).
- Macro extremes: USO +78.48% (98.41), GLD +20.58% (20.63), EEM +19.83% (76.59); TLT -3.76% (21.03), UUP -2.04% (52.78), IBIT -36.36% (17.46); US 10Y yield +2.90% (80.56).

## Year (1Y)

- US sector breadth 8/8 positive (risk_on_score 3); A-shares 5/5 positive. Indices with pct_rank ≥ 98: S&P 500 +32.26% (98.41), Nasdaq +44.25% (98.41), Dow +22.59% (98.41), Russell 2000 +47.88% (99.21).
- Sector leadership: SMH +130.37% (98.41), XLK +52.23% (98.41), XLE +45.36% (98.41), XLI +40.38% (98.41), XLY +23.94% (84.92); XLP +2.67% (45.63) is the laggard.
- China onshore strong vs. HK weak: ChiNext +67.21% (85.71), SZSE Component +38.02% (78.97), STAR 50 +36.48% (43.65), SSE Composite +20.15% (51.59), CSI 300 +20.08% (67.06); Hang Seng +11.49% (9.52), HSTECH -10.27% (9.52), FXI +16.89% (17.06).
- Macro: USO +89.61% (98.02), EEM +53.75% (98.81), GLD +52.25% (60.32), TLT +0.91% (93.65), UUP -1.37% (99.21); IBIT -6.73% (30.56); US 10Y yield -1.84% (43.25).

## 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 | 6,967 | +1.18% | +5.30% | +5.05% | -0.14% | +6.33% | +32.26% | +1.59% |
| Nasdaq Comp | 23,639 | +1.96% | +7.36% | +6.94% | -0.40% | +6.46% | +44.25% | +1.74% |
| Dow Jones | 48,536 | +0.66% | +4.19% | +4.25% | -2.13% | +6.72% | +22.59% | +0.32% |
| Russell 2000 | 268.72 | +1.38% | +6.25% | +8.97% | +2.76% | +13.01% | +47.88% | +8.02% |
| VIX (VXX) | 29.22 | -1.22% | -16.56% | -16.75% | +13.08% | -22.02% | -63.11% | +11.95% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 147.94 | +1.60% | +7.65% | +8.14% | +0.78% | +6.28% | +52.23% | +2.52% |
| XLF (Financials) | 51.78 | +0.23% | +3.81% | +5.91% | -6.35% | -0.73% | +12.79% | -5.73% |
| XLE (Energy) | 55.95 | -2.03% | -7.00% | -3.03% | +20.74% | +31.31% | +45.36% | +22.56% |
| XLV (Healthcare) | 148.83 | +0.58% | +1.54% | -0.64% | -5.43% | +4.73% | +10.33% | -4.30% |
| XLY (Cons Disc) | 116.44 | +2.21% | +8.04% | +5.03% | -6.49% | +1.81% | +23.94% | -1.61% |
| XLP (Cons Staples) | 81.47 | -0.10% | +0.26% | -3.86% | +1.61% | +4.31% | +2.67% | +4.87% |
| XLI (Industrials) | 173.35 | +0.36% | +5.52% | +5.28% | +6.24% | +15.64% | +40.38% | +9.73% |
| SMH (Semis) | 452.00 | +1.95% | +13.03% | +16.70% | +15.70% | +38.93% | +130.37% | +21.08% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 4,027 | +0.95% | +3.51% | -1.68% | -1.40% | +4.25% | +20.15% | +0.08% |
| SZSE Component | 14,640 | +1.61% | +9.25% | +2.52% | +4.40% | +8.61% | +38.02% | +5.87% |
| CSI 300 | 4,701 | +1.19% | +5.87% | +0.69% | -1.87% | +1.76% | +20.08% | -0.35% |
| ChiNext | 3,559 | +2.36% | +12.58% | +7.50% | +7.21% | +9.90% | +67.21% | +8.01% |
| STAR 50 | 1,405 | +2.17% | +10.29% | +2.29% | -1.70% | -4.44% | +36.48% | +0.12% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 25,872 | +0.82% | +3.01% | -0.10% | -2.22% | -4.67% | +11.49% | -1.77% |
| Hang Seng Tech | 4,852 | +0.62% | +3.69% | -4.01% | -15.45% | -26.74% | -10.27% | -15.42% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.32 | -0.22% | -1.55% | -2.04% | +0.15% | -2.04% | -1.37% | +0.77% |
| GLD (Gold) | 445.09 | +2.23% | +3.08% | -3.42% | +5.41% | +20.58% | +52.25% | +11.75% |
| USO (WTI Crude) | 123.85 | -3.60% | -10.31% | +3.30% | +72.85% | +78.48% | +89.61% | +79.60% |
| TLT (20Y+ UST) | 87.21 | +0.53% | +0.66% | +0.77% | -0.52% | -3.76% | +0.91% | +0.21% |
| IBIT (Bitcoin) | 42.13 | +1.30% | +7.75% | +4.36% | -18.78% | -36.36% | -6.73% | -17.29% |
| EEM (EM equity) | 62.24 | +1.92% | +8.60% | +9.58% | +7.42% | +19.83% | +53.75% | +10.67% |
| FXI (China lg-cap) | 36.89 | +1.18% | +3.97% | +1.79% | -9.23% | -3.76% | +16.89% | -7.36% |
| US 10Y Yield | 4.2600 | -0.93% | -1.62% | +0.71% | +1.91% | +2.90% | -1.84% | +1.67% |

### Breadth & risk-on

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