Optimism for the lithium mining market continued to improve. Since August, Albemarle (ALB) trended higher. The stock bounced from a $76 low that month to close at $102.09 on October 4, 2024.
Rio Tinto (RIO) is reportedly seeking a mega lithium deal. Should it buy Albemarle, it would get the miner at a discount. The rumors lifted Lithium Americas (LAC) and Sociedad Quimica y Minera (SQM).
United Airlines (UAL) jumped last Friday. In the second quarter, Southwest Airlines (LUV) increased its Q3 forecast. It also announced a $2.5 billion stock buyback plan.
In the retail sector, Deckers Outdoor (DECK) is on an uptrend. The firm has a stronger potential to outperform Nike (NKE).
Homebuilder D.R. Horton (DHI) is stumbling. The stock failed to break out above $199.85. Lennar (LEN) is also stuck in a trading range. In the second half of the year, lower interest rates will start to drive demand for homes. Consumer confidence will start to increase.
Lennar positioned its business to keep raising its volumes. It is in a better position to increase sales as consumers return to buying a home. In the longer term, Lennar’s asset-light model will support its growth rate target of 10%.
