Tuesday morning headlines

Stocks shoot up: The Consumer Confidence index is at its highest level since last September, which may explain the run-up. The Dow is up about 150 points.

Prop 8 ruling: Decision is out at 10 a.m. The betting is that the state Supreme Court will uphold last November's vote banning same-sex marriage, but will continue to recognize the marriages of same-sex couples wed before the election. (LAT)

Slowdown in price drop: L.A. home prices fell 1.4 percent in March from the previous month, but quite a few other cities had far worse declines - including Vegas, Miami and Minneapolis. It's the same with the year-over-year comparison. (press release)

Scamming in L.A.: The SEC's local office has been kept busy with investigations of securities fraud, more so than usual. The economy probably has something to do with it. From the Business Journal:

Los Angeles is a popular place for swindlers, experts surmise, because the area is home to large numbers of wealthy people, as well as major concentrations of minority groups, where Ponzi schemes tend to flourish. What's more, the nation's entertainment capital is one of the few places in the country where someone can come into vast sums of money without drawing much attention. Many schemes have come to light lately as the economy has declined. Since Ponzi schemes rely on new investment to fund payouts to previous investors, the scams often fall apart when the markets turn south and investment capital disappears.

"Museum" over "Terminator": It's blockbuster time in Hollywood. "Night at the Museum: Battle of the Smithsonian" grossed $70 million over the holiday weekend, beating out "Terminator: Salvation," which generated $53.8 million. (Variety)

Why adult films aren't cutting it: The Wrap's Michael Speier says "The Soloist," "Duplicity," "State of Play," and "Confessions of a Shopoholic" didn't catch fire for several reasons:

First, the A-list stars don't matter like they used to. Julia and Russell do not automatically guarantee great returns. They're giving way to a new generation of actors, who are opening light-hearted films and who cost a whole lot less. What's more, audiences cannot be relied upon to show up and see even their favorite actors in movies that seem like a long sit, or a confusing one. Secondly, message films have a bigger hill to climb in a society facing economic distress. Movies are still the last cheap night out, but audiences are not turning up to be challenged, or lectured or offered morality tales.

Amgen acquires heart drug: The product, called
CK-1827452, is still in clinical trials. It activates a protein that helps heart muscles contract to pump blood. (NYT)

Cruise ships return to Mexico: Royal Caribbean, Princess and Carnival cruise lines - all with ties to Long Beach and L.A. - are resuming their southern routes beginning Sunday. The CDC now says the risk from the swine flu virus infection is less than originally thought. (Press-Telegram)

Lacter on radio: This morning's business chat with KPCC's Kari Moran (Steve Julian is on vacation) looks at how the state budget crisis is impacting the economy and why there haven't been more government layoffs. Also on kpcc.org and on podcast.