U.S. stocks opened lower Friday as U.S. producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.
The stabilization in producer prices could support views that the Federal Reserve will raise interest rates this year. Zillow (Z) says the number of underwater homeowners in the United States is falling but it is still troublesome.
It says slowing price growth in homes could cause problems for some borrowers. Zillow released its 2015 Q1 Negative Equity Report, which showed that negative equity fell in the first quarter of 2015 to 15.4% from 16.9% in the fourth quarter of 2014, and 18.8% during the same time period a year ago.
WingStop (WING) held an IPO today where its shares prices at $19, which was above the expected range. Honda (HMC) will restate earnings results as it has to take into account the expanded Takata air bag recall and the impact it is having on its financial results.