The S&P 500 (^GSPC -0.05%) index, a leading benchmark of the U.S. stock market, rose about 1.9% in August. However, at least 20 stocks in the S&P 500 index rallied over 10% in the month, with the top three rallying over 20% each. Here's what propelled them higher.
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1. Albemarle
Albemarle (ALB 1.92%) is among the world's largest miners of lithium, a key raw material for electric vehicle (EV) batteries, electronics, and energy storage systems. Lithium carbonate prices hit a one-year high in August after Chinese EV battery giant and lithium producer CATL suspended operations at a mine as its license expired. Albemarle stock surged 25.2%, making it August's biggest S&P 500 mover.
With CATL about to resume operations and lithium prices falling back to the ground, Albemarle stock has already reversed course. It's down 14% this month, as of this writing.
2. UnitedHealth Group
UnitedHealth Group (UNH -0.17%) was among the biggest losers in the S&P 500, dropping 50% through the end of July. But it made a dramatic comeback, surging 24.2% in August after legendary investor Warren Buffett disclosed a $1.6 billion stake in the beleaguered health insurer.
On July 29, UnitedHealth reissued an outlook for 2025 after suspending it in May. UnitedHealth projects around 12% revenue growth and net earnings of at least $14.65 per share versus 2024 earnings of $15.51 per share. UnitedHealth stock is up another 12% this month so far.
3. Intel
Two announcements sent Intel (INTC -2.09%) shares 23% higher last month. On Aug. 18, Japanese conglomerate SoftBank (SOBK.Y -0.83%) agreed to invest $2 billion in Intel at a price of $23 per share. Days later, the U.S. government announced an investment of $8.9 billion in Intel stock, equivalent to a 10% stake, funded with $5.7 billion in unpaid grants under the U.S. CHIPS and Science Act and $3.2 billion from the Secure Enclave program.
Investors believe the funding could help Intel turn things around as the Trump administration tries to boost the domestic semiconductor industry.
