NIO pops on SUV demand, Rivian downgrade, McGraw Hill IPO

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It’s time for your Yahoo! Finance’s market minute. Stocks not much changed as investors digest tariff risks and look ahead to the June CPI report on Tuesday. Shares of Chinese EV maker Neo jumping on strong demand for its new SUV. Shares up over 5%, actually over 6% after Morgan Stanley said it saw 30 to 35,000 pre-orders for Neo’s upcoming vehicle in the firm’s latest channel checks. Meanwhile, Rivian shares falling after getting a downgrade to hold from buy at Guggenheim. The analyst citing the Republican tax bill as a major headwind for the company’s long-term growth. And education tech company McGraw Hill looking to raise over $500 million through a US IPO. The company is offering 24.4 million shares currently priced at about $19 to $22 each, giving it a valuation of about $4.2 billion. This would be McGraw Hill’s latest attempt to go public after withdrawing applications in 2022 and 2018. And that’s your Yahoo! Finance market minute. Scan the QR code below to track the best and worst performing stocks of the session.

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