The U.S. Federal Reserve surprised many by making a significant interest rate cut, sparking confusion among investors. Despite this, Federal Reserve Chair Jerome Powell emphasized that the economy is still strong. Market strategist Kenny Polcari shared his investment strategy, focusing on sectors like utilities, energy, consumer staples, financials, and basic materials. He highlighted Energy Transfer and Amgen as top stock picks, citing their potential for growth. He also recommended investing in ASML, a tech company that he believes is currently undervalued. Overall, Polcari remains optimistic about the market and sees opportunities for investors to capitalize on current conditions.
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