**Nvidia Enters the Dow, Energy Stocks Climb Amid Rising Oil Prices**

Nvidia (NVDA) shares surged over 1% at the market opening following the announcement that the artificial intelligence chip leader will join the Dow Jones Industrial Average on Friday, replacing the established chip giant Intel (INTC). Concurrently, energy stocks, represented by the Energy Select Sector SPDR Fund (XLE), saw gains on Monday, driven by a spike in oil prices.

Investor sentiment remains focused on several key events this week. The much-anticipated U.S. presidential election is scheduled for Tuesday, while the Federal Open Market Committee is set to meet on Wednesday and Thursday. There is widespread expectation among market participants that the policymakers will announce a 25 basis point cut in interest rates.

Meanwhile, a new report highlights growing concerns over the affordability of homes, particularly for first-time buyers. According to the 2024 National Association of Realtors (NAR) profile of home buyers and sellers, first-time homebuyers constituted just 24% of all purchasers this year, marking the lowest share since 1981. The NAR survey, conducted in July among over 167,000 recent homebuyers, revealed significant barriers to entry, including high home prices, elevated borrowing costs, and limited inventory.

Jessica Lautz, NAR's deputy chief economist, emphasized the challenging market conditions, noting that mortgage rates had surged to nearly 8% during the survey period, significantly reducing housing affordability. Lautz also pointed out that rising rental prices and the resumption of student debt payments have made it even more difficult for potential buyers to save for down payments.

This year's mortgage rates have fluctuated between 6% to 7%, with recent trends showing an upward movement from a two-year low in September. First-time buyers are facing fierce competition, often going head-to-head with bidders making all-cash offers, according to Lautz.

The energy sector saw a significant boost as oil futures jumped more than 2.5% on Monday. This uptick came after OPEC+ announced a delay in unwinding production cuts, extending the timeframe by a month. West Texas Intermediate (WTI) futures climbed to trade above $71 per barrel, while Brent crude hovered near $75 per barrel. OPEC+, which includes Russia alongside other major oil producers, decided to maintain its production cuts until the end of 2024, postponing the addition of 180,000 barrels per day that was initially set to start in December.