U.S. President Barack Obama yesterday (Wednesday) released a proposed housing program designed to prevent up to 9 million “at risk” Americans from losing their homes.

U.S. President Barack Obama signed into law one of the most ambitious and costly pieces of legislation in America’s 200-plus year history. However, with the economy still reeling, Obama has no time to rest on his laurels and today he will introduce a new plan to stem the rising tide of foreclosures swamping the nation’s housing market.

U.S. Congress set to approve $789 billion stimulus package… OPEC again cuts 2009 world oil demand forecast… OPEC figures suggest 65 percent compliance on output cuts…

Retail sales unexpectedly rose in January – halting a record six-month skid – but the upbeat report could easily be a one-month wonder, since U.S. unemployment continues to climb.

Negotiators from the House of Representatives and the Senate reached a compromise on the proposed economic stimulus bill today (Wednesday) and could have a bill on President Barack Obama’s desk by the end of the week, CNN reported.

In the currency market, the dollar sank against the euro. Late Monday, the euro was trading at $1.3056 vs. $1.2932 on Friday.

As Senate Republicans and Democrats continue to bicker over the details of President Barack Obama’s stimulus plan, Treasury Secretary Timothy Geithner waits in the wings ready to unveil yet another bank bailout bill. 

OPEC says willing to cut production further from March…  Impending U.S. stimulus package supportive…  Dismal U.S. jobs data still weighs on sentiment…

Worries rise that stimulus package could be held up… Ford stock rises after quarterly results… Initial jobless claims on tap… S&P 500 futures off 6.70 points, Dow futures off 52 points, Nasdaq futures off 4.75 points…

Caterpillar Inc., (CAT) predicted zero economic growth worldwide in 2009 and announced it will shed 20,000 jobs over the next few months. The world’s largest maker of construction and mining machines issued its gloomy forecast after a downturn that began in the United States grew into a full-blown global recession, gutting orders for its equipment.