# Daily Market Scan — 2026-04-17

## Executive read

US equities had a broad risk-on day, with the Dow +1.79%, Russell 2000 +2.16%, Nasdaq Comp +1.52%, and S&P 500 +1.20%, while VXX slipped -1.09% and 7 of 8 US sectors closed green. The dominant weekly theme is a sharp US rally — XLK +8.22%, Nasdaq Comp +6.84%, XLY +6.66%, Russell 2000 +5.54%, SMH +6.24% — paired with a hard energy reversal (USO -7.03%, XLE -3.37%) and a quiet but persistent rotation into China growth (ChiNext +6.65%, SZSE Component +4.02%). The 6-month regime shows tech and small-caps re-leading the US (SMH +35.81%, Russell 2000 +10.17%, XLI +13.70%) and energy still the macro standout (XLE +27.48%, USO +68.20%), while Hong Kong remains the laggard (HSTECH -22.08%, HSI -2.21%) and IBIT sits in a deep drawdown (6M -30.44%). 1Y breadth is fully risk-on — every US sector positive, every A-share index positive — but 3M readings are softer (risk_on_score 1, US sectors 5/8, A-shares 2/5), so the rebound visible on 1W/1M is being built off a weaker quarter underneath.

## Today (1D)

- Small-caps and cyclicals led: Russell 2000 +2.16% (pct_rank 94.05), Dow Jones +1.79% (pct_rank 97.22), XLY +2.36% (pct_rank 96.83), XLI +1.87% (pct_rank 97.62).
- Tech and semis confirmed: Nasdaq Comp +1.52% (pct_rank 92.86), SMH +2.06% (pct_rank 84.92), XLK +1.53% (pct_rank 87.30), IBIT +2.83% (pct_rank 87.30).
- Energy was the sharp outlier on the downside: USO -7.79% (pct_rank 1.19), XLE -2.76% (pct_rank 1.98); GLD +1.33% and TLT +0.92% rose alongside a small -1.39% move lower in US 10Y Yield.
- China/HK mixed: EEM +1.91% and FXI +0.99%, but SSE Composite -0.10%, CSI 300 -0.17%, Hang Seng -0.89%, Hang Seng Tech -0.97%.

## This week (1W)

- US tech-led blowout: XLK +8.22% (pct_rank 98.02), Nasdaq Comp +6.84% (pct_rank 97.22), XLY +6.66% (pct_rank 96.43), SMH +6.24% (pct_rank 88.89), S&P 500 +4.54% (pct_rank 96.43), Russell 2000 +5.54% (pct_rank 97.22).
- China growth participated despite flat headline indices: ChiNext +6.65% (pct_rank 92.46), SZSE Component +4.02% (pct_rank 89.29), STAR 50 +4.31% (pct_rank 81.75), with SSE Composite only +1.64% and CSI 300 +1.99%.
- Energy and crude broke the other way: USO -7.03% (pct_rank 4.76), XLE -3.37% (pct_rank 8.33); VXX -5.82% as risk gauges compressed.
- Crossover assets rose with US risk: EEM +5.09% (pct_rank 97.22), IBIT +5.73%, GLD +2.01%; USD index UUP -0.29%.

## This month (1M)

- US risk extended: SMH +17.91% (pct_rank 94.44), Russell 2000 +12.10% (pct_rank 97.62), XLK +11.88% (pct_rank 94.84), Nasdaq Comp +10.46% (pct_rank 94.84), XLY +8.90% (pct_rank 94.05), S&P 500 +7.57% (pct_rank 94.84).
- US breadth supportive but uneven: 1M breadth is 6/8 US sectors positive and risk_on_score 3, with XLE -5.84% and XLP -0.22% the drags.
- China/EM solidly positive: EEM +10.56% (pct_rank 96.03), ChiNext +9.92%, SZSE Component +4.92%, FXI +3.87%; HSTECH -1.35% and SSE Composite -0.28% lagged.
- Macro: USO -4.63% and XLE -5.84% sit against IBIT +9.14% and GLD +0.27%; UUP -1.76% with US 10Y Yield +0.24%.

## Half-year (6M)

- US tech, semis and small-caps lead: SMH +35.81% (pct_rank 61.51), XLI +13.70% (pct_rank 75.00), Russell 2000 +10.17%, XLK +8.58%, Nasdaq Comp +7.93%, S&P 500 +6.82%, Dow +6.91%.
- Energy remains the macro standout: USO +68.20% (pct_rank 94.44), XLE +27.48% (pct_rank 86.11), with GLD +15.11% also bid.
- China/HK split: SZSE Component +11.46% and ChiNext +18.15% positive, but SSE Composite +3.96%, CSI 300 +2.42%, STAR 50 -2.02%, HSI -2.21% (pct_rank 7.94), HSTECH -22.08% (pct_rank 4.76), FXI -5.53% (pct_rank 11.90).
- Rates and crypto drag: TLT -3.96% (pct_rank 19.44), IBIT -30.44% (max_dd -44.70, pct_rank 20.63); breadth at 1Y is fully risk-on (US sectors 8/8, A-shares 5/5, risk_on_score 3).

## Year (1Y)

- SMH +128.74% (pct_rank 98.02) dominates, with ChiNext +74.77%, XLK +53.67%, EEM +51.20%, GLD +49.75%, Russell 2000 +47.67%, Nasdaq Comp +45.45%, SZSE Component +41.59%, STAR 50 +39.17%.
- Broad US-equity strength: S&P 500 +32.05% (pct_rank 98.02), Dow Jones +22.49% (pct_rank 98.02), XLI +37.32% (pct_rank 98.02), XLE +39.20% (pct_rank 97.22), XLY +27.49% (pct_rank 94.44).
- VXX -57.58% (pct_rank 1.98) reflects a year of vol compression; US 10Y Yield -2.74% and TLT -0.85% essentially flat at the long end.
- Lagging on a 1Y basis: HSTECH +14.57% (pct_rank 19.05), FXI +13.32% (pct_rank 15.87), XLF +10.92% (pct_rank 35.71), XLV +8.07%, XLP +1.76%, IBIT -7.96% (pct_rank 28.97), UUP -0.55% (pct_rank 99.21 — highest in its own 1Y distribution despite the negative return).

## 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 | 7,126 | +1.20% | +4.54% | +7.57% | +2.61% | +6.82% | +32.05% | +3.90% |
| Nasdaq Comp | 24,468 | +1.52% | +6.84% | +10.46% | +3.99% | +7.93% | +45.45% | +5.31% |
| Dow Jones | 49,447 | +1.79% | +3.19% | +6.97% | +0.01% | +6.91% | +22.49% | +2.20% |
| Russell 2000 | 275.78 | +2.16% | +5.54% | +12.10% | +3.87% | +10.17% | +47.67% | +10.85% |
| VIX (VXX) | 28.98 | -1.09% | -5.82% | -16.44% | +10.11% | -20.78% | -57.58% | +11.03% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 154.35 | +1.53% | +8.22% | +11.88% | +6.11% | +8.58% | +53.67% | +6.96% |
| XLF (Financials) | 52.43 | +0.77% | +3.27% | +7.07% | -3.57% | -1.52% | +10.92% | -4.55% |
| XLE (Energy) | 55.02 | -2.76% | -3.37% | -5.84% | +15.56% | +27.48% | +39.20% | +20.53% |
| XLV (Healthcare) | 148.80 | +1.49% | +1.01% | +1.13% | -5.20% | +4.38% | +8.07% | -4.31% |
| XLY (Cons Disc) | 120.41 | +2.36% | +6.66% | +8.90% | -1.87% | +2.61% | +27.49% | +1.74% |
| XLP (Cons Staples) | 82.46 | +1.26% | +0.11% | -0.22% | +0.11% | +4.08% | +1.76% | +6.14% |
| XLI (Industrials) | 173.51 | +1.87% | +1.16% | +5.04% | +4.66% | +13.70% | +37.32% | +9.83% |
| SMH (Semis) | 464.16 | +2.06% | +6.24% | +17.91% | +17.09% | +35.81% | +128.74% | +24.34% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 4,051 | -0.10% | +1.64% | -0.28% | -1.67% | +3.96% | +20.93% | +0.70% |
| SZSE Component | 14,885 | +0.60% | +4.02% | +4.92% | +5.42% | +11.46% | +41.59% | +7.64% |
| CSI 300 | 4,729 | -0.17% | +1.99% | +1.51% | -0.64% | +2.42% | +21.74% | +0.23% |
| ChiNext | 3,678 | +1.43% | +6.65% | +9.92% | +10.53% | +18.15% | +74.77% | +11.65% |
| STAR 50 | 1,423 | +0.08% | +4.31% | +3.70% | -3.56% | -2.02% | +39.17% | +1.42% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 26,160 | -0.89% | +1.03% | +1.26% | -1.68% | -2.21% | +31.93% | -0.68% |
| Hang Seng Tech | 5,043 | -0.97% | +3.75% | -1.35% | -13.99% | -22.08% | +14.57% | -12.09% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.36 | -0.04% | -0.29% | -1.76% | -0.26% | -1.69% | -0.55% | +0.92% |
| GLD (Gold) | 445.93 | +1.33% | +2.01% | +0.27% | +5.34% | +15.11% | +49.75% | +11.96% |
| USO (WTI Crude) | 116.04 | -7.79% | -7.03% | -4.63% | +63.14% | +68.20% | +74.55% | +68.27% |
| TLT (20Y+ UST) | 87.07 | +0.92% | +0.67% | +0.13% | -1.40% | -3.96% | -0.85% | +0.05% |
| IBIT (Bitcoin) | 43.94 | +2.83% | +5.73% | +9.14% | -18.63% | -30.44% | -7.96% | -13.74% |
| EEM (EM equity) | 63.64 | +1.91% | +5.09% | +10.56% | +9.55% | +18.20% | +51.20% | +13.16% |
| FXI (China lg-cap) | 37.60 | +0.99% | +3.72% | +3.87% | -6.00% | -5.53% | +13.32% | -5.58% |
| US 10Y Yield | 4.2600 | -1.39% | -1.16% | +0.24% | +0.47% | +5.19% | -2.74% | +1.67% |

### Breadth & risk-on

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