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Federal Reserve Rate Cut: The Federal Reserve cut the benchmark borrowing rate by 25 basis points, with mixed opinions among members about the impact on inflation and the job market. Fed Chair Jerome Powell indicated that future rate hikes are unlikely, but cuts may be cautious moving forward.

Jim Cramer's Stock Recommendations: CNBC's Jim Cramer highlighted stocks to consider in the current economic climate, including homebuilders like Toll Brothers and Home Depot, transport companies such as J.B. Hunt and FedEx, and industrials like Caterpillar and Cummins, benefiting from lower rates.

Market Reaction: Following the rate cut, major stock indices rose, with the Dow Jones gaining 1.05%, the S&P 500 up 0.67%, and the Nasdaq Composite increasing by 0.33%, as investors anticipated continued easing from the Fed.

Investment Strategy Advice: Cramer advised investors to remain bullish as the year ends, emphasizing the potential for expensive stocks like Palantir to continue performing well, especially after securing a contract with the U.S. Navy.

Apple's Stock Performance: Citi raised Apple's price target to $330, anticipating a 19% upside due to expected iPhone sales growth and promising AI developments, particularly with a potential partnership with Google for Siri enhancements.

Investment in AI: Analysts believe Apple's strong installed base positions it well for AI advancements, although clarity on its AI plans remains necessary as the rollout has faced delays.

Wells Fargo's Ambitions: CEO Charlie Scharf aims to elevate Wells Fargo to a top-five player in Wall Street dealmaking by expanding its corporate and investment banking division, leveraging strong client relationships and recent senior-level hires.

Regulatory Changes and Growth: With the removal of its asset cap, Wells Fargo can now aggressively pursue growth in investment banking, diversifying its revenue streams and reducing reliance on interest income.