* Trading was volatile, with investors weighing a plan released by the Obama administration to stem home foreclosures.
* There's a process of evaluating the stimulus plan and the foreclosure plan. People are looking to see whether we're going the right path or not, said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.
* The Dow Jones industrial average
NEW YORK - Stocks headed for a bounce at the open on Wednesday as investors looked to snap up beaten-down shares after Tuesday's slide to three-month lows.
A speech later in the day by President Barack Obama to announce a plan to stem home foreclosures would likely offer investors more direction after government data showed U.S. housing starts and permits dropped to record lows in January.
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NEW YORK - Stock index futures tumbled on Tuesday on concern that the recession is worsening and that efforts to stabilize the global financial system may not be enough.
The diminishing appetite for riskier assets made stocks sink in Asia overnight while in Europe benchmark indexes were down more than 2 percent.
Top drags before the bell included financials, with shares of Bank of America
Representatives of bondholders with some $28 billion in General Motors Corp debt have outlined specific proposals to the automaker on how to swap the debt for equity in a restructured company, a person with knowledge of the talks said on Monday.
Treasury Secretary Timothy Geithner may introduce private funding as one component of his bank bailout plan to help institutions deal with the bad debt weighing on their balance sheets.
