# Daily Market Scan — 2026-04-15

## Executive read

Risk assets pushed higher today on a tech-led tape: Nasdaq Comp +1.59%, XLK +1.60%, and XLY +1.49%, while the Dow Jones slipped -0.15% and cyclical/defensive sectors (XLI -1.25%, XLV -0.71%, XLP -0.50%) lagged. This week's dominant theme is a broad US risk-on impulse — S&P 500 +3.54%, Nasdaq +6.10%, Russell 2000 +3.42%, SMH +7.11%, IBIT +5.29% — alongside a -7.36% drop in VXX, with A-shares breadth at 5/5 positive on 1W. The 6-month regime shows US sector breadth at 7/8 positive and a risk_on_score of 3, with energy (XLE +29.10%) and crude (USO +74.43%) leading while Hang Seng Tech (-25.01%) and IBIT (-35.33%) remain the standout laggards. On 1Y, every US sector tracked is positive (8/8) and SMH is +125.03%, against US10Y at 4.29 and UUP at -0.58%.

## Today (1D)

- Tech-led advance: Nasdaq Comp +1.59% (pct_rank 93.25), XLK +1.60% (pct_rank 89.29), and XLY +1.49% (pct_rank 88.49) drove the upside, with Hang Seng Tech +1.23% echoing the move offshore.
- Mega-cap and cyclicals diverged: Dow Jones -0.15%, XLI -1.25% (pct_rank 8.33), XLV -0.71%, and XLP -0.50% — only 4 of 8 US sectors finished positive (risk_on_score -3 on the day).
- China A-shares mixed-to-soft: SSE Composite +0.01%, STAR 50 +0.09%, but SZSE Component -0.97%, CSI 300 -0.34%, and ChiNext -1.22%; 2 of 5 A-share names positive.
- Macro tilt slightly defensive within the rally: GLD -1.04%, USO -1.02%, TLT -0.44%, UUP -0.11%, while US10Y rose +0.70% to 4.29 and IBIT added +1.02%.

## This week (1W)

- US large-cap risk-on broad and sharp: S&P 500 +3.54% (pct_rank 92.06), Nasdaq +6.10% (pct_rank 95.63), Russell 2000 +3.42% (pct_rank 86.11), with XLY +6.64% (pct_rank 96.03), XLK +6.08%, and SMH +7.11% leading sectors.
- Vol compression alongside the rally: VXX -7.36% (pct_rank 16.27) and XLK 1W vol at 12.78 vs SMH 10.65, while XLE -3.94% (pct_rank 4.37) and XLP -2.08% lagged.
- A-shares fully participating: SSE +0.81%, SZSE +3.25%, CSI 300 +1.95%, ChiNext +5.00%, STAR 50 +3.96% — 5/5 A-shares positive (risk_on_score 1).
- Macro mixed: IBIT +5.29%, EEM +2.91%, GLD +1.36%, but USO -1.60%, UUP -0.87%, TLT -0.10%, and Hang Seng Tech -0.23%.

## This month (1M)

- Semis and small-caps front of the pack: SMH +15.00% (pct_rank 87.70), Russell 2000 +8.22% (pct_rank 93.25), XLK +8.30%, Nasdaq +7.34%, with XLF +5.82% (pct_rank 91.67) joining.
- Defensives and energy under pressure: XLP -4.61% (pct_rank 7.14), XLE -3.70% (pct_rank 10.71), XLV -2.15%, GLD -4.34% (pct_rank 7.94).
- China A-shares modestly constructive: ChiNext +4.70%, SZSE +1.33%, STAR 50 +1.54%, CSI 300 +0.29%, SSE -1.41% — 4/5 positive (risk_on_score 3).
- Macro: EEM +6.54% (pct_rank 83.73), USO +6.57%, IBIT +1.48%, TLT -0.44%, UUP -1.59%, US10Y +2.14%, Hang Seng Tech -2.30%.

## Half-year (6M)

- US sector breadth at 7/8 positive with SMH +33.33%, XLI +13.02%, XLE +29.10% (pct_rank 90.48), and Nasdaq +5.82% vs S&P 500 +5.53%.
- Real-asset and EM strength: USO +74.43% (pct_rank 97.62), GLD +16.50%, EEM +16.37%, Russell 2000 +10.22%.
- China/HK split: ChiNext +8.55%, SZSE +7.19%, SSE +3.72%, CSI 300 +0.96% positive, but STAR 50 -5.95% (pct_rank 3.17), Hang Seng -3.75%, FXI -6.70%, Hang Seng Tech -25.01% (pct_rank 1.59).
- Rates and crypto drag: TLT -4.13%, US10Y +5.93% (pct_rank 93.25), UUP -2.50%, IBIT -35.33% (pct_rank 18.65).

## Year (1Y)

- US sectors 8/8 positive: SMH +125.03%, XLK +51.55%, XLE +41.36%, XLI +36.21%, XLY +24.58%, XLF +11.78%, XLV +7.96%, XLP +0.88%.
- US indices broadly higher: Russell 2000 +46.12% (pct_rank 98.81), Nasdaq +43.60%, S&P 500 +30.94%, Dow Jones +20.52%, with VXX -61.97% (pct_rank 0.79).
- Real assets and EM stand out: USO +84.46% (pct_rank 97.62), GLD +47.84%, EEM +48.98% (pct_rank 98.41).
- China/HK and crypto lag: ChiNext +67.08% and SZSE +38.02% strong, but Hang Seng +11.83% (pct_rank 9.92), Hang Seng Tech -9.48%, FXI +11.96% (pct_rank 14.29), IBIT -10.72%; US10Y -2.50%, UUP -0.58%, TLT -0.07%.

## 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 | 7,023 | +0.80% | +3.54% | +4.83% | +0.85% | +5.53% | +30.94% | +2.40% |
| Nasdaq Comp | 24,016 | +1.59% | +6.10% | +7.34% | +1.29% | +5.82% | +43.60% | +3.36% |
| Dow Jones | 48,464 | -0.15% | +1.16% | +3.23% | -1.48% | +5.20% | +20.52% | +0.17% |
| Russell 2000 | 269.39 | +0.25% | +3.42% | +8.22% | +3.08% | +10.22% | +46.12% | +8.28% |
| VIX (VXX) | 29.33 | +0.38% | -7.36% | -9.64% | +10.55% | -15.28% | -61.97% | +12.38% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 150.30 | +1.60% | +6.08% | +8.30% | +2.61% | +5.41% | +51.55% | +4.16% |
| XLF (Financials) | 52.17 | +0.75% | +1.89% | +5.82% | -3.80% | -0.93% | +11.78% | -5.02% |
| XLE (Energy) | 55.76 | -0.34% | -3.94% | -3.70% | +18.64% | +29.10% | +41.36% | +22.15% |
| XLV (Healthcare) | 147.77 | -0.71% | -1.27% | -2.15% | -5.72% | +4.10% | +7.96% | -4.98% |
| XLY (Cons Disc) | 118.18 | +1.49% | +6.64% | +5.33% | -4.85% | +1.07% | +24.58% | -0.14% |
| XLP (Cons Staples) | 81.06 | -0.50% | -2.08% | -4.61% | -0.06% | +4.14% | +0.88% | +4.34% |
| XLI (Industrials) | 171.18 | -1.25% | +0.43% | +3.08% | +4.37% | +13.02% | +36.21% | +8.36% |
| SMH (Semis) | 453.00 | +0.22% | +7.11% | +15.00% | +15.70% | +33.33% | +125.03% | +21.35% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 4,027 | +0.01% | +0.81% | -1.41% | -1.43% | +3.72% | +20.73% | +0.09% |
| SZSE Component | 14,498 | -0.97% | +3.25% | +1.33% | +3.33% | +7.19% | +38.02% | +4.84% |
| CSI 300 | 4,685 | -0.34% | +1.95% | +0.29% | -1.91% | +0.96% | +20.53% | -0.69% |
| ChiNext | 3,515 | -1.22% | +5.00% | +4.70% | +5.56% | +8.55% | +67.08% | +6.69% |
| STAR 50 | 1,406 | +0.09% | +3.96% | +1.54% | -2.57% | -5.95% | +37.51% | +0.21% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 25,947 | +0.29% | +0.21% | +0.90% | -0.77% | -3.75% | +11.83% | -1.49% |
| Hang Seng Tech | 4,912 | +1.23% | -0.23% | -2.30% | -13.50% | -25.01% | -9.48% | -14.38% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.29 | -0.11% | -0.87% | -1.59% | -0.22% | -2.50% | -0.58% | +0.66% |
| GLD (Gold) | 440.46 | -1.04% | +1.36% | -4.34% | +4.47% | +16.50% | +47.84% | +10.59% |
| USO (WTI Crude) | 122.59 | -1.02% | -1.60% | +6.57% | +66.83% | +74.43% | +84.46% | +77.77% |
| TLT (20Y+ UST) | 86.83 | -0.44% | -0.10% | -0.44% | -1.13% | -4.13% | -0.07% | -0.23% |
| IBIT (Bitcoin) | 42.56 | +1.02% | +5.29% | +1.48% | -20.55% | -35.33% | -10.72% | -16.45% |
| EEM (EM equity) | 62.20 | -0.06% | +2.91% | +6.54% | +8.16% | +16.37% | +48.98% | +10.60% |
| FXI (China lg-cap) | 36.88 | -0.03% | +1.46% | +0.00% | -8.37% | -6.70% | +11.96% | -7.38% |
| US 10Y Yield | 4.2900 | +0.70% | +0.00% | +2.14% | +3.37% | +5.93% | -2.50% | +2.39% |

### Breadth & risk-on

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