Obama expedites stimulus spending

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US President Barack Obama is expediting the economic stimulus package passed by Congress in February. His plan is to create six-hundred thousand jobs during the next 100 days.

Meanwhile, US stocks rebound to end flat after being in negative territory for most of the day.

US stocks late on Monday shrugged off lighter-than-expected sales from McDonald's and lowered iPhone prices from Apple.

The three major US stock indexes had fallen more than one percent during the day before rallying in the last hour of trading, led by bank shares.

On Monday at a White House meeting, U.S. President Barack Obama highlighted gains made since Congress passed the massive stimulus package in February.

He also accelerated stimulus spending in order to create or save six-hundred thousand jobs over the next 100 days.

President Barack Obama speaks about healthcare during a meeting with Senate Democrats at the White House in Washington June 2, 2009. REUTERS/Kevin Lamarque