Dell Technologies added to Bullpen watchlist after event

Stocks on Wall Street had a mixed day, with some slightly lower by Thursday afternoon. The market is trying to build on gains from the previous day after the Federal Reserve announced that it is keeping interest rates the same for now. Fed Chairman Jerome Powell's comments during the meeting had insights that satisfied both those who want lower rates and those concerned about inflation. The yield on the 10-year Treasury note dropped to 4.17% early in the day but increased later after news of a surprising rise in existing home sales for February. Financials and energy sectors led the market, while technology and consumer staples lagged behind. In the latest update from the CNBC Investing Club with Jim Cramer, the team has added Dell Technologies to its Bullpen watchlist. Jim Cramer recently attended Nvidia's major AI event where he learned about Dell's significant role in the AI market. Dell's servers help many businesses access Nvidia's powerful chips. Despite its established presence in the AI field, Dell's stock has struggled in the past year. Issues include a lackluster response to its AI-powered PCs and challenges in its server business margins due to new AI models. However, demand for Dell's AI products is strong, with its backlog growing to $9 billion from $4.5 billion over the last year. Dell's stock is currently valued at about $100 per share, which is more in line with realistic market expectations compared to last year’s highs. The company also has a good dividend yield of 2.1% after an 18% increase last month and a $10 billion share buyback plan. Upcoming earnings reports from companies including Micron, Nike, FedEx, and Lennar will provide more insights into the semiconductor and housing markets. These results will help investors assess current trends in consumer spending and commerce.