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Market Recap

美国股市周报：本周市场数据与行业表现

Matt ConnorBy Matt Connor Updated 2026-09-05

这是对过去一周美国市场表现的量化总结。下文所有数据均来自针对真实交易行情的存储查询。本页面每周更新，因此数据始终对应最近一个完整交易周。

指数表现一览

查询主要指数ETF过去一周表现
指数 ETF周收益率 (%)周初周末
S&P 500 (SPY)0.28Aug 31Sep 4
Nasdaq 100 (QQQ)0.32Aug 31Sep 4
Dow (DIA)-0.08Aug 31Sep 4
Russell 2000 (IWM)0.15Aug 31Sep 4
每个数字背后的完整 SQL
WITH sess AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        argMin(toFloat64(open), toTimeZone(window_start, 'America/New_York')) AS o,
        argMax(toFloat64(close), toTimeZone(window_start, 'America/New_York')) AS c
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('SPY', 'QQQ', 'DIA', 'IWM')
      AND window_start >= now() - INTERVAL 12 DAY AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
wk AS (SELECT ticker, argMin(o, d) AS wo, argMax(c, d) AS wc, min(d) AS d0, max(d) AS d1
       FROM sess WHERE d >= (SELECT max(d) FROM sess) - 6 GROUP BY ticker)
SELECT multiIf(ticker = 'SPY', 'S&P 500 (SPY)', ticker = 'QQQ', 'Nasdaq 100 (QQQ)', ticker = 'DIA', 'Dow (DIA)', 'Russell 2000 (IWM)') AS index_etf,
    round((wc / wo - 1) * 100, 2) AS week_return_pct,
    (SELECT formatDateTime(min(d0), '%b %e') FROM wk) AS week_start,
    (SELECT formatDateTime(max(d1), '%b %e') FROM wk) AS week_end
FROM wk
ORDER BY multiIf(ticker = 'SPY', 0, ticker = 'QQQ', 1, ticker = 'DIA', 2, 3)
自己运行这个查询

在Aug 31至Sep 4这一周，标普500指数（SPY）回报率为0.28%，纳斯达克100指数（QQQ）为0.32%，道琼斯指数（DIA）为-0.08%，小盘股罗素2000指数（IWM）为0.15%。四者之间的差异，用一句话概括了本周行情：当纳斯达克指数与罗素2000指数走势分化时，市场正在超大盘成长股与其他资产之间作出选择。

表面之下：市场广度

指数点位无法反映究竟有多少只股票实际参与上涨或下跌。该指标按每个交易日统计：在成交额至少达到5亿美元的股票中，有多少只收盘价高于前一交易日，以及有多少只收盘价低于前一交易日。

查询每日市场广度：各交易日上涨股与下跌股对比（交易额超过$500M的股票）
日期上涨数下跌数
2026-08-2874146
2026-08-3182120
2026-09-0162179
2026-09-0215872
2026-09-0315562
每个数字背后的完整 SQL
WITH day AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        argMax(toFloat64(close), toTimeZone(window_start, 'America/New_York')) AS c,
        sum(toFloat64(close) * toFloat64(volume)) AS dv
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= now() - INTERVAL 14 DAY AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
chg AS (SELECT ticker, d, c, dv, lagInFrame(c) OVER (PARTITION BY ticker ORDER BY d) AS prev_c FROM day),
per_day AS (
    SELECT d,
        countIf(c > prev_c AND dv >= 500000000 AND prev_c > 3) AS advancers,
        countIf(c < prev_c AND dv >= 500000000 AND prev_c > 3) AS decliners,
        countIf(dv >= 500000000 AND prev_c > 3) AS total
    FROM chg WHERE d >= (SELECT max(d) FROM day) - 12 AND prev_c > 0
    GROUP BY d HAVING total >= 100
),
recent AS (SELECT d, advancers, decliners FROM per_day ORDER BY d DESC LIMIT 5)
SELECT d AS date, advancers, decliners FROM recent ORDER BY d ASC
自己运行这个查询

这两条线反映的就是市场参与度。当一周内上涨股票数明显高于下跌股票数时，指数上涨说明整个市场都在提供支撑；当两者趋于接近或发生交叉时，指数虽为绿色，但只是少数大盘股在推动行情，多数股票并未参与。最近一个交易日，155只股票上涨，62只股票下跌。

行业表现：从最佳到最差

查询标普500十一大行业过去一周表现
板块周收益率 (%)
Utilities2.49
Technology0.76
Health Care0.66
Energy0.53
Financials0.42
Communications-0.36
Industrials-0.54
Real Estate-0.71
Staples-0.77
Materials-1.32
Consumer Disc.-1.49
每个数字背后的完整 SQL
WITH sess AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        argMin(toFloat64(open), toTimeZone(window_start, 'America/New_York')) AS o,
        argMax(toFloat64(close), toTimeZone(window_start, 'America/New_York')) AS c
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE ticker IN ('XLB', 'XLC', 'XLE', 'XLF', 'XLI', 'XLK', 'XLP', 'XLRE', 'XLU', 'XLV', 'XLY')
      AND window_start >= now() - INTERVAL 12 DAY AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
wk AS (SELECT ticker, argMin(o, d) AS wo, argMax(c, d) AS wc FROM sess WHERE d >= (SELECT max(d) FROM sess) - 6 GROUP BY ticker)
SELECT multiIf(ticker = 'XLK', 'Technology', ticker = 'XLC', 'Communications', ticker = 'XLE', 'Energy',
    ticker = 'XLF', 'Financials', ticker = 'XLI', 'Industrials', ticker = 'XLB', 'Materials',
    ticker = 'XLP', 'Staples', ticker = 'XLRE', 'Real Estate', ticker = 'XLU', 'Utilities',
    ticker = 'XLV', 'Health Care', 'Consumer Disc.') AS sector,
    round((wc / wo - 1) * 100, 2) AS week_return_pct
FROM wk ORDER BY week_return_pct DESC
自己运行这个查询

行业板块排行榜将本周表现分为领先者和落后者。Utilities以2.49%领涨，Consumer Disc.以-1.49%垫底。表现最佳与最差行业之间的差距，可以反映本周行情主要由行业轮动推动，还是由各行业普遍同向变动推动。

本周涨跌幅最大的股票

成交最活跃股票中，本周涨幅最大的股票（成交额超过 $1 billion；不包括杠杆ETF和反向ETF）：

查询过去一周涨幅最大的股票
ticker周收益率 (%)周成交额（十亿美元）
BE27.48.8
IREN245.1
FRVO22.41.1
ASST20.21.2
CBRS18.43.8
HUT18.21.2
HOOD18.110.9
每个数字背后的完整 SQL
WITH sess AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        argMin(toFloat64(open), toTimeZone(window_start, 'America/New_York')) AS o,
        argMax(toFloat64(close), toTimeZone(window_start, 'America/New_York')) AS c,
        sum(toFloat64(close) * toFloat64(volume)) AS dv
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= now() - INTERVAL 12 DAY AND ticker NOT IN ('SPCX','SOXL','SOXS','TQQQ','SQQQ','NVDL','NVDS','NVD','TSLL','TSLQ','TSLZ','SPXL','SPXS','UPRO','SPXU','LABU','LABD','FAS','FAZ','TNA','TZA','YINN','YANG','UDOW','SDOW','BOIL','KOLD','UCO','SCO','USD','SSO','SDS','QLD','QID','ERX','ERY','DRN','DRV','CURE','SOXY','MUU','SNXX','UVXY','SVXY','UVIX','SVIX','BULZ','WEBL','WEBS','DPST','DRIP','GUSH','AGQ','ZSL','BITX','ETHU','MSTX','MSTU','CONL','DUST','JNUG','JDST','NUGT') AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
wk AS (SELECT ticker, argMin(o, d) AS wo, argMax(c, d) AS wc, sum(dv) AS wd, count() AS n
       FROM sess WHERE d >= (SELECT max(d) FROM sess) - 6 GROUP BY ticker)
SELECT ticker, round((wc / wo - 1) * 100, 1) AS week_return_pct, round(wd / 1e9, 1) AS week_dollar_bn
FROM wk WHERE wd >= 1000000000 AND wo >= 10 AND n >= 4
ORDER BY (wc / wo - 1) DESC LIMIT 7
自己运行这个查询

BE领涨所有高流动性股票，本周上涨27.4%。跌幅最大的股票则如下：

查询过去一周跌幅最大的股票
ticker周收益率 (%)周成交额（十亿美元）
APH-47.32.9
SNDQ-30.51.4
CRDO-26.98.8
MDB-16.95.1
PATH-15.94.1
LULU-15.62
ADSK-15.21.4
每个数字背后的完整 SQL
WITH sess AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        argMin(toFloat64(open), toTimeZone(window_start, 'America/New_York')) AS o,
        argMax(toFloat64(close), toTimeZone(window_start, 'America/New_York')) AS c,
        sum(toFloat64(close) * toFloat64(volume)) AS dv
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= now() - INTERVAL 12 DAY AND ticker NOT IN ('SPCX','SOXL','SOXS','TQQQ','SQQQ','NVDL','NVDS','NVD','TSLL','TSLQ','TSLZ','SPXL','SPXS','UPRO','SPXU','LABU','LABD','FAS','FAZ','TNA','TZA','YINN','YANG','UDOW','SDOW','BOIL','KOLD','UCO','SCO','USD','SSO','SDS','QLD','QID','ERX','ERY','DRN','DRV','CURE','SOXY','MUU','SNXX','UVXY','SVXY','UVIX','SVIX','BULZ','WEBL','WEBS','DPST','DRIP','GUSH','AGQ','ZSL','BITX','ETHU','MSTX','MSTU','CONL','DUST','JNUG','JDST','NUGT') AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
wk AS (SELECT ticker, argMin(o, d) AS wo, argMax(c, d) AS wc, sum(dv) AS wd, count() AS n
       FROM sess WHERE d >= (SELECT max(d) FROM sess) - 6 GROUP BY ticker)
SELECT ticker, round((wc / wo - 1) * 100, 1) AS week_return_pct, round(wd / 1e9, 1) AS week_dollar_bn
FROM wk WHERE wd >= 1000000000 AND wo >= 10 AND n >= 4
ORDER BY (wc / wo - 1) ASC LIMIT 7
自己运行这个查询

在成交最活跃的股票中，APH跌幅最大，达到-47.3%。完整的滚动排行榜会持续更新，详见每周涨跌幅榜页面。

成交量集中的股票

成交额显示市场资金实际关注了哪些股票，而市场关注点并不总是涨跌幅最大的股票。

查询成交量流向：过去一周成交金额最高的股票
ticker周成交额（十亿美元）
NVDA93.1
SPY92.8
MU79
QQQ73.3
TSLA61.5
SNDK58.1
AAPL40.4
AVGO35.6
每个数字背后的完整 SQL
WITH sess AS (
    SELECT ticker, toDate(toTimeZone(window_start, 'America/New_York')) AS d,
        sum(toFloat64(close) * toFloat64(volume)) AS dv
    FROM global_markets.delayed_stocks_minute_aggs
    WHERE window_start >= now() - INTERVAL 12 DAY AND ticker NOT IN ('SPCX','SOXL','SOXS','TQQQ','SQQQ','NVDL','NVDS','NVD','TSLL','TSLQ','TSLZ','SPXL','SPXS','UPRO','SPXU','LABU','LABD','FAS','FAZ','TNA','TZA','YINN','YANG','UDOW','SDOW','BOIL','KOLD','UCO','SCO','USD','SSO','SDS','QLD','QID','ERX','ERY','DRN','DRV','CURE','SOXY','MUU','SNXX','UVXY','SVXY','UVIX','SVIX','BULZ','WEBL','WEBS','DPST','DRIP','GUSH','AGQ','ZSL','BITX','ETHU','MSTX','MSTU','CONL','DUST','JNUG','JDST','NUGT') AND (toHour(toTimeZone(window_start, 'America/New_York')) * 60 + toMinute(toTimeZone(window_start, 'America/New_York'))) BETWEEN 570 AND 959
    GROUP BY ticker, d
),
wk AS (SELECT ticker, sum(dv) AS wd FROM sess WHERE d >= (SELECT max(d) FROM sess) - 6 GROUP BY ticker)
SELECT ticker, round(wd / 1e9, 1) AS week_dollar_bn FROM wk ORDER BY wd DESC LIMIT 8
自己运行这个查询

本周，NVDA的成交额在所有股票中最高，达到93.1十亿美元。股价变动幅度较小但成交量很大的股票，通常意味着市场参与者集中交易一只流动性较高的股票；成交量大且价格大幅波动，则表明市场方向更为明确。榜单前列通常是超大市值股票和本周受到新闻推动的股票。将该榜单与上文的涨跌幅榜对比，可以区分出涨跌幅较大的股票和仅仅成交活跃的股票。

如何解读一周市场表现

将四个数字放在一起看，比单独观察任何一个指数点位都更能准确描述一周行情。指数表现反映平均美元资产的表现，并按市值对大型公司赋予更高权重。市场广度则显示实际参与上涨或下跌的股票数量：指数表现强劲但市场广度较窄，说明行情集中在少数大型公司，历史上通常难以持续；市场广度较广，则说明整个市场出现更持久的趋势变化。行业表现板块显示这一周行情的性质。表现最佳行业与最差行业之间差距较大，通常意味着资金轮动和选股行情；差距较小，则说明市场受到同一股力量推动，整体同步变动。涨跌幅最大的股票和成交量领先股随后指出推动行情的具体股票，将波动幅度显眼但成交清淡的股票，与成交活跃、规模庞大的龙头股区分开来。本栏目每周并列展示这四组数据，让读者看到完整的市场图景，而不只是一个标题。由于每个数字都由存储查询计算得出，内容不会偏离实际成交记录。

常见问题

本周市场发生了什么？

在Aug 31至Sep 4这一周，标普500指数上涨0.28%，纳斯达克100指数上涨0.32%。Utilities是表现最强的板块，Consumer Disc.是表现最弱的板块。在最近一个交易日，155只股票成交活跃且上涨，而62只股票下跌。上方各面板提供完整细节。

这份市场回顾多久更新一次？

每周更新一次。本页面根据最近五个交易日的实时查询结果生成，因此始终反映最近一个完整交易周的情况。订阅者每周会收到一封电子邮件。

这些数字来自哪里？

每个数字都来自针对市场逐笔成交数据（股票分钟线）的存储查询。您可以打开任一面板下方的 SQL 进行审核，也可以在 Strasmore 终端上运行相同的查询。

想在收件箱中收到这份内容吗？这是订阅者每周收到的市场回顾：每周一封电子邮件，以数字呈现本周市场表现，每个数字都可审核。如需了解日常市场动态，请查看持续刷新的涨跌股和空头持仓页面。

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