Money, Money: Stock prices jumped Tuesday on news that home prices rose 10.9% in the last 12 months. Rising prices indicate that Americans are buying homes and will likely spend more on furniture and household goods. The Consumer Confidence Index is at its highest point since February 2008. Stocks rolled back a bit this morning.

Pork: The American ham, bacon and sausage conglomerate Smithfield has agreed to sell itself to a Chinese company for $4.7 billion.

World: Russia says it will deliver anti-aircraft missiles to Syria to deter foreign interference in that country’s civil war. This came just one day after the EU lifted its ban on sending weapons to Syria. Fear of Russia supporting the Assad regime has been a major factor in the West’s reluctance to get militarily involved with Syria.

National: Minnesota Republican Rep. Michelle Bachman, one of the prominent names of the Tea Party, says she will not run for re-election.

• A federal indictment charges the online bank Liberty Reserve with being a $6 billion laundromat for criminal enterprises. It is described as the biggest money laundering operation in US history.
• An explosion was heard for miles when a chemical freight train hit a garbage truck in a Baltimore suburb. Several train cars piled onto each other and burned while the side of a warehouse building about 100 feet away was destroyed. The truck driver was the only person hurt.
• The judge in the Treyvon Martin murder case in Florida ruled that lawyers representing George Zimmerman could not mention Martin’s drug use and school disciplinary records in opening statements. Cell phone pictures show Martin smoking weed. But the judge said those elements might be introduced later if defense lawyers can prove they are relevant.

Summer Bromance: President Obama and New Jersey Gov. Chris Christie appeared together again at the Jersey shore. Obama failed to throw a football through a tire at a carnival booth, but Christie nailed it. Smiles, a handshake, even a man-hug. Cozying up to Obama won’t hurt Christie as he prepares to run for re-election in heavily Democratic NJ, but it will hit him in his large backside if he runs for President. Whatever, he’ll always have that summer afternoon at the shore.

Heil Tea: A billboard installed by JC Penney in Los Angeles features a teapot that looks astonishingly like Adolph Hitler. The handle forms the hairline while the knob on the lid serves as nose and moustache. A spokesman for Penney’s said, “I know nothingggg!!! I see nothingggg!!!”

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