It's been a while, but all eleven sectors in the S&P 500 finished higher yesterday.

Market breadth was convincingly bullish as advancers swamped decliners:

• S&P 500 82%
• S&P 400 84%
• S&P 600 74%

The power trade continued to power back, lifting Utilities (XLU) more than 2.0%.

Spreading Love

Extended factors were higher in the session, with momentum and quality leading the charge. This reflects the two dominant mindsets of investors.

Get back on the momentum horse and ride that lousy boy until it's time for the glue factory. Buy depressed great names with the pedigree that have already demonstrated long-term staying power.

Microsoft (MSFT) struggled, but it's been years since the stock surged on earnings. Apple (AAPL) reversed course after the bell on positive guidance.

Tariffs Are Coming

Wall Street experts will lose their minds today over tariffs starting over the weekend. I think it will be overkill and will explain why the narrative is all wrong on my show, Making Money, and in my next Payne’s Perspective report. Nobody wants a trade war, but America must use its might to secure a fair deal with our partners.

Today’s Session

Wall Street hates tariffs because Wall Street (the people and power players, along with the financial media) only cares about the corporate bottom lines. Sadly, if they could allow themselves to look beyond the next quarter's earnings and to a more promising nation with fairer trade deals, they would cheer the notion of more muscular bottom lines down the road.

They will try to jawbone this market down today and go into overtime next week, whining and fearmongering.

Please don’t allow them to manipulate your long-term goals of prosperity.