The CNN Washington Bureau’s morning speed read of the top stories making news from around the country and the world. Click on the headlines for more.
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CNN: Reid taps Sen. Murray to co-chair debt committee
Senate Majority Leader Harry Reid, D-Nevada, said Tuesday that he would appoint Sen. Patty Murray, Sen. Max Baucus of Montana and Sen. John Kerry of Massachusetts to the congressional "super committee," charged with crafting a plan to cut the country's deficit. Murray, from Washington state, was tapped to co-chair the committee, Reid said in a statement.
CNNMoney: Dow soars 400 points in wild session
U.S. stocks ended a gut-wrenching session with huge gains - erasing a big chunk of the prior session's steep losses - after the Federal Reserve said it will keep interest rates exceptionally low until 2013. …The Dow fluctuated by more than 600 points during Tuesday's session.
CNN: Sources: U.S. is moving toward calling for Syrian leader to step down
The United States is moving toward issuing an explicit call for Syrian President Bashar al-Assad to step down, U.S. government sources told CNN Tuesday. The move is expected to be announced in coming days after U.S. officials consult with the United Nations Security Council, the sources said.
CNN: Obama attends transfer of service members' remains from downed copter
President Barack Obama and top Pentagon officials including Defense Secretary Leon Panetta and Joint Chiefs of Staff Chairman Adm. Mike Mullen attended Tuesday's dignified transfer of the remains of 38 U.S. and Afghan personnel killed on board a helicopter shot down in Afghanistan over the weekend.
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CNN: Report: GOP retains Wisconsin senate control in recall battle
Republicans retained four of the six state Senate seats that were in jeopardy in Tuesday's recall elections in Wisconsin, the Milwaukee Journal-Sentinel reported. Democrats won two seats but needed three to take control, the newspaper reported.
Topeka Capital-Journal: Brownback: Send back $31.5M federal grant
Gov. Sam Brownback reversed course Tuesday by declaring the state would return a $31.5 million federal grant intended to finance technology infrastructure to comply with elements of national health insurance reform. The decision came as a shock to Kansas Insurance Commissioner Sandy Praeger, who was notified late Monday night by Lt. Gov. Jeff Colyer.
CNET: Security flaw found in feds' digital radios
Expensive high-tech digital radios used by the FBI, Secret Service, and Homeland Security are designed so poorly that they can be jammed by a $30 children's toy, CNET has learned.
CNN: Polygamist leader Warren Jeffs sentenced to life in prison
Polygamist leader Warren Jeffs was sentenced Tuesday to life in prison plus 20 years for sexually assaulting two girls he claimed were his "spiritual wives." Jeffs, 55, will have to spend at least 45 years in prison before being eligible for release, according to Jerry Strickland, spokesman for the Texas Attorney General's office.
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CNN: British PM to host emergency committee again
British Prime Minister David Cameron will meet with his crisis-response committee again Wednesday after a fourth night of violence hit London neighborhoods and spread elsewhere in the country. London's Metropolitan Police Service has arrested 768 people in connection with violence, disorder and looting, the department reported early Wednesday.
CNN: Tear gas flies during Chilean student protests
Vehicles burned and tear gas flew in Chile's capital Tuesday as tens of thousands of demonstrators protested education policies in the South American nation. Police said more than 60,000 demonstrators protested in Santiago, CNN Chile reported.
Bloomberg: China’s Trade Surplus Surges to $31.5 Billion
China’s trade surplus surged to $31.5 billion in July, the highest level in more than two years, as exports rose to a record. Outbound shipments climbed 20.4 percent from a year earlier, compared with the 17 percent median forecast in a Bloomberg News survey of 25 economists.
CNN: Inside Tel Aviv's tent city
It has been over three weeks since a handful of activists set up a tent city in Israel's second largest city. At first these strangers were protesting for a single cause: affordable housing for the middle class. Now, they are a community with a long list of complaints, ranging from cheaper education to food and higher wages and a general concern about the growing gap between rich and poor.
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CNNMoney: Investors flee to gold
Stock-shocked investors are fleeing to gold, pushing the precious metal to new heights. Gold reached a new intraday high of $1,782.50 per ounce in electronic trading before ending at $1,743. That's an increase of $29.80, or about 1.7%, compared to its Monday close. On Monday, gold broke $1,700 for the first time.
New York Times: Heavy Trucks to Be Subject to New Rules for Mileage
Big tractor-trailer trucks will have to get 20 percent more miles per gallon by the 2018 model year under the first-ever fuel economy rules for heavy vehicles, announced Tuesday by President Obama. The rules mimic the “light duty” fuel economy standards for cars and sport utility vehicles that have been in place since 1975.
Wall Street Journal: Capital One to Buy HSBC's U.S. Card Unit
Capital One Financial Corp. said it would buy the U.S. credit-card business of HSBC Holdings PLC for about $2.6 billion. Capital One said it may raise up to $1.25 billion in equity to maintain an about 9.5% Tier 1 capital ratio at the close of the deal, which will help the McLean, Va., bank to expand its lending at a time when consumers remain reluctant to take out new loans.
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