Stocks Opened Flat ahead of Housing Data

U.S. stocks began flat on Friday as investors awaited a further set of housing data. The Dow industrials lately were off 15.21 points at 13,030.93. The S&P 500 fell 1.24 points to 1,391.54. The Nasdaq Composite was down 5.57 points, at 3,057.75.

Bank of America said Thursday that it would offer a small number of customers facing foreclosure the option to remain in their homes and rent the property instead. The program highlights how investors are increasingly interested in becoming landlords on troubled properties.

The nation’s big insurers are spending millions to carry out President Barack Obama’s health care overhaul even though there’s a chance the wide-reaching law won’t survive Supreme Court scrutiny.

President Barack Obama will nominate Dartmouth College President Jim Yong Kim to head the World Bank, a surprise pick for the international financial institution’s top job, senior administration officials said. The Korean-born Kim is a physician by training and a prominent figure in global health and development circles. Officials believe his experience will help counter criticism from developing countries that have grown weary of the U.S. stranglehold on the World Bank presidency.

Zynga said Friday that it planned to sell $687 million of stock — some 49 million shares – in a secondary offering, according to an amended prospectus. And earlier filing said that company insiders plan to sell $400 million.