# Daily Market Scan — 2026-04-30

## Executive read

US risk assets ripped higher into month-end with every US sector positive on the day (8/8) and breadth registering a maximum risk_on_score of 3 on 1D, 1W, 1M, 6M, and 1Y horizons. The dominant 1-month theme is a semiconductor-led tech surge — SMH +32.16% over 1M (1M pct_rank 98.81) and XLK +20.02% (pct_rank 96.83) — set against a 1M VIX (VXX) decline of -21.04%. The 6-month regime remains energy- and commodity-heavy, with XLE +36.56%, USO +106.04%, and GLD +16.27% over 6M, while long-duration Treasuries (TLT) sit at -6.96% and Hang Seng Tech at -17.76%; equity strength has not extended to HK tech or to Bitcoin (IBIT 6M -32.83%). China A-shares show uniformly positive 1M breadth (5/5) led by STAR 50 +25.05% and ChiNext +15.45%, even as offshore China (HSTECH, FXI) lags.

## Today (1D)

- US breadth was unanimous: all 8 US sectors closed positive, with XLI (Industrials) +2.74% (pct_rank 98.02) and XLP (Cons Staples) +1.68% (pct_rank 98.02) leading; XLV (Healthcare) +2.21% (pct_rank 97.62) and Russell 2000 +2.16% (pct_rank 94.44) confirmed cyclicals and small-caps participating alongside defensives.
- The Dow Jones outperformed cap-weighted indices at +1.62% (pct_rank 96.83) vs S&P 500 +1.02% and Nasdaq +0.89%; VXX fell -2.86% to 28.19 (pct_rank 19.05), consistent with the risk-on tape.
- STAR 50 jumped +5.19% (pct_rank 98.02) to 1,571, an outlier within China — SSE Composite +0.11%, SZSE Component -0.09%, CSI 300 -0.06%, ChiNext -0.27%, only 2 of 5 A-share buckets green on the day.
- Hang Seng -1.28% (pct_rank 11.90) and HSTECH -0.79% diverged from the global tape; USO -2.35% (pct_rank 9.13) and UUP -0.91% (pct_rank 1.98) also fell while GLD rose +1.50%.

## This week (1W)

- Semis and energy led: SMH +5.16% (pct_rank 81.75), XLE +4.69% (pct_rank 93.65), XLK +2.35%; EEM +2.63% and Nasdaq +1.86% reinforce a tech/EM tilt for the week.
- US sector breadth was 7/8 positive over 1W with XLV (Healthcare) the lone laggard at -0.17%; risk_on_score 3.
- China onshore was muted (SSE +0.46%, CSI 300 +0.44%, SZSE +0.43%, ChiNext -1.16%) but STAR 50 ran +9.67% (pct_rank 96.83), pulling 1W A-share breadth to 4/5 positive.
- USO surged +9.18% over the week (pct_rank 89.68) while GLD slipped -1.71% and TLT -1.07%; US 10Y Yield was +1.38% (pct_rank 74.21).

## This month (1M)

- Semis are the standout: SMH +32.16% over 1M (pct_rank 98.81), with STAR 50 +25.05% (pct_rank 98.02) and XLK +20.02% (pct_rank 96.83) showing the tech leadership extends across regions.
- All five China A-share buckets closed the month positive (breadth 5/5): SZSE Component +12.09% (pct_rank 95.63), ChiNext +15.45% (pct_rank 90.48), CSI 300 +8.03% (pct_rank 95.63), SSE Composite +5.66% (pct_rank 91.27), STAR 50 +25.05%.
- US sector breadth was 6/8 positive on 1M with XLE -2.63% (pct_rank 13.10) and XLV -0.42% (pct_rank 35.32) the only sectors red; Russell 2000 +12.08% (pct_rank 96.03) confirms broad participation.
- VXX -21.04% over 1M (pct_rank 6.75) and USO +15.59% (pct_rank 85.71) co-occur with EEM +12.68% (pct_rank 97.22) and IBIT +12.75% — a configuration where vol collapsed even as crude and EM rose.

## Half-year (6M)

- Energy and crude dominate the 6M leaderboard: USO +106.04% (pct_rank 99.60), XLE +36.56% (pct_rank 98.81); SMH +39.55% (pct_rank 73.02) and ChiNext +20.08% (pct_rank 46.03) round out the top.
- US sector breadth is 6/8 positive over 6M with XLF -1.62% (pct_rank 16.67) and XLY -1.84% (pct_rank 26.98) the laggards; risk_on_score 3.
- TLT -6.96% (pct_rank 5.16) and the US 10Y Yield +10.28% (pct_rank 99.60) mark a clear yield-up regime over the half-year; UUP -1.79% (pct_rank 50.40) shows dollar drift, not strength.
- Offshore China and crypto sit in deep 6M drawdowns: HSTECH -17.76% (pct_rank 9.13), FXI -9.96% (pct_rank 8.33), IBIT -32.83% (pct_rank 20.63), with IBIT's 6M max drawdown -44.02%.

## Year (1Y)

- 1Y leadership is concentrated in semis and energy: SMH +140.96% (pct_rank 97.22), USO +123.37% (pct_rank 99.60), XLK +52.56% (pct_rank 95.24), XLE +44.20% (pct_rank 98.02).
- China-onshore is materially higher over 1Y — ChiNext +92.81% (pct_rank 91.27), SZSE Component +54.56% (pct_rank 90.87), STAR 50 +54.86%, CSI 300 +27.42%, SSE Composite +25.52% — while offshore China lags (HSTECH -0.57%, FXI +8.85%).
- US breadth over 1Y is unanimous (8/8 sectors positive, 5/5 A-share buckets positive); risk_on_score 3.
- Vol and bonds are down over the year: VXX -55.27% (pct_rank 5.95), TLT -5.08%; IBIT -20.10% (pct_rank 11.11) is the 1Y laggard among macro instruments tracked.

## 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 | 7,209 | +1.02% | +1.42% | +10.42% | +3.44% | +4.62% | +29.64% | +5.11% |
| Nasdaq Comp | 24,892 | +0.89% | +1.86% | +15.29% | +5.10% | +4.47% | +42.56% | +7.13% |
| Dow Jones | 49,652 | +1.62% | +0.69% | +7.14% | +1.18% | +4.08% | +22.51% | +2.62% |
| Russell 2000 | 277.97 | +2.16% | +0.89% | +12.08% | +5.54% | +11.65% | +41.76% | +11.73% |
| VIX (VXX) | 28.19 | -2.86% | -4.44% | -21.04% | +3.53% | -14.39% | -55.27% | +8.01% |

### US sectors

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| XLK (Tech) | 159.50 | +0.25% | +2.35% | +20.02% | +8.60% | +5.64% | +52.56% | +10.53% |
| XLF (Financials) | 52.13 | +0.40% | +0.64% | +5.59% | -2.65% | -1.62% | +7.11% | -5.10% |
| XLE (Energy) | 59.65 | +1.05% | +4.69% | -2.63% | +18.10% | +36.56% | +44.20% | +30.67% |
| XLV (Healthcare) | 145.99 | +2.21% | -0.17% | -0.42% | -5.09% | +0.37% | +4.82% | -6.12% |
| XLY (Cons Disc) | 118.35 | +1.29% | +0.52% | +8.60% | -2.34% | -1.84% | +18.90% | +0.00% |
| XLP (Cons Staples) | 84.31 | +1.68% | +0.99% | +2.84% | +2.65% | +7.50% | +3.78% | +8.52% |
| XLI (Industrials) | 174.58 | +2.74% | +0.29% | +7.95% | +5.26% | +12.87% | +34.00% | +10.51% |
| SMH (Semis) | 506.72 | +1.43% | +5.16% | +32.16% | +21.36% | +39.55% | +140.96% | +35.74% |

### China A-shares

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| SSE Composite | 4,112 | +0.11% | +0.46% | +5.66% | -0.25% | +4.84% | +25.52% | +2.21% |
| SZSE Component | 15,108 | -0.09% | +0.43% | +12.09% | +5.45% | +15.98% | +54.56% | +9.25% |
| CSI 300 | 4,807 | -0.06% | +0.44% | +8.03% | +1.77% | +4.36% | +27.42% | +1.90% |
| ChiNext | 3,677 | -0.27% | -1.16% | +15.45% | +10.47% | +20.08% | +92.81% | +11.61% |
| STAR 50 | 1,571 | +5.19% | +9.67% | +25.05% | +1.91% | +12.12% | +54.86% | +11.95% |

### Hong Kong

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| Hang Seng | 25,777 | -1.28% | -0.54% | +3.30% | -3.64% | -0.02% | +19.54% | -2.13% |
| Hang Seng Tech | 4,871 | -0.79% | +0.12% | +1.95% | -15.98% | -17.76% | -0.57% | -15.08% |

### Global macro

| Instrument | Last | 1D | 1W | 1M | 3M | 6M | 1Y | YTD |
|---|---:|---:|---:|---:|---:|---:|---:|---:|
| UUP (USD index) | 27.36 | -0.91% | -0.62% | -1.51% | +2.90% | -1.79% | +0.18% | +0.92% |
| GLD (Gold) | 423.66 | +1.50% | -1.71% | -1.54% | -14.57% | +16.27% | +38.42% | +6.37% |
| USO (WTI Crude) | 147.09 | -2.35% | +9.18% | +15.59% | +85.86% | +106.04% | +123.37% | +113.30% |
| TLT (20Y+ UST) | 85.62 | -0.09% | -1.07% | -1.23% | -2.28% | -6.96% | -5.08% | -1.62% |
| IBIT (Bitcoin) | 43.32 | +1.33% | -1.66% | +12.75% | -8.99% | -32.83% | -20.10% | -14.96% |
| EEM (EM equity) | 63.99 | +2.07% | +2.63% | +12.68% | +5.87% | +14.90% | +46.60% | +13.78% |
| FXI (China lg-cap) | 36.79 | +1.24% | +0.82% | +2.48% | -9.78% | -9.96% | +8.85% | -7.61% |
| US 10Y Yield | 4.4000 | -0.45% | +1.38% | +1.62% | +3.29% | +10.28% | +4.02% | +5.01% |

### Breadth & risk-on

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