ARVL - Auto stocks: Stellanis Lordstown lead big breakout Tesla on cruise control and Lightning eMotors stumbles after earnings

Automobile stocks broke higher on Tuesday with incremental progress in the Ukraine-Russia talks being reported. Russia is no longer asking that Ukraine be "denazified" and is prepared to let the nation join the EU if it remains militarily non-aligned. That includes ditching its NATO aspirations, refraining from developing nuclear weapons and hosting foreign military bases. A drop in oil price is also adding to the positive turn in sentiment in the auto sector. Gainers included both legacy auto giants and EV startups with Stellantis (NYSE:STLA +6.4%), Arrival (ARVL +5.6%), Lordstown Motors (NASDAQ:RIDE +5.9%), General Motors (GM +3.7%), Ford Motor (F +4.9%), Ferrari (RACE +2.8%), Canoo (GOEV +2.7%), Sono Group (SEV +3.6%), Toyota (TM +3.7%), XPeng (XPEV +1.4%) and Honda Motor (HMC +3.2%) all higher. Auto suppliers like Visteon (VC +9.3%), Adient (ADNT +5.3%), Cooper-Standard Holdings (CPS +6.2%) and Autoliv (ALV +5.3%) also posted strong gains. Tesla (TSLA) cooled off a

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Auto stocks: Stellanis, Lordstown lead big breakout, Tesla on cruise control and Lightning eMotors stumbles after earnings