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Thursday April 2, 1970
. . . where the 1970s live forever!

News stories from Thursday April 2, 1970


Summaries of the stories the major media outlets considered to be of particular importance on this date:

  • Teamsters and trucking firms agreed on a $1 an hour pay increase over a period of time, and the Post Office and air traffic controllers unions reached an agreement with the government. The terms were a 6% pay raise for all federal employees and 8% more for postal workers when the reform bill passes. Labor Secretary George Shultz reported no progress on preventing a railroad strike, however, and he urged Congress to impose a settlement. [CBS]
  • Massachusetts Governor Francis Sargent signed a bill preventing the federal government from forcing Massachusetts men to fight an undeclared war. Sargent said that while the bill is sincere, its effect is doubtful. The bill aims to prove the illegality of the Vietnam war. [CBS]
  • Twelve members of the Students For a Democratic Society-Weathermen organization were indicted in Chicago for conspiracy to riot. "Chicago 7" judge Julius Hoffman presided. [CBS]
  • Senator William Fulbright says that the U.S. should let North Vietnam dominate Indochina. He stated that America's Southeast Asia policy doesn't face the reality that North Vietnam is the greatest power in Indochina. Secretary of State William Rogers assured that there will be no U.S. intervention in Cambodia; Cambodia denied the U.S. the right to pursue Communists across its border because doing so would violate Cambodia's neutrality. [CBS]
  • Communists shelled 65 towns and bases in South Vietnam and downed three U.S. helicopters; 1,525 copters have been downed since January, 1961. No progress was reported in the 61st Paris Peace Talks session. [CBS]
  • Three Soviet scientists issued a letter claiming that there is inadequate freedom in Russia and warning of social upheaval if rights are not expanded. [CBS]
  • The hijacked Japan Airlines plane is still grounded in Seoul, South Korea. [CBS]
  • New snowstorms are setting records in the Midwest. [CBS]
  • Thermal pollution is a problem; federal and state governments are attacking the Florida Power and Light Company for polluting Carel Sound. The power plant heats the water, which kills marine life. The company is building a canal to divert water to a new nuclear plant. A Florida Power and Light spokesman stated that the canal is necessary in order to supply electricity and to protect the environment. A biologist for the company denied that 95-degree water poses any danger to marine life, but many scientists say that 90 degrees is the upper limit. [CBS]
  • Egg and pork prices have declined but beef prices are increasing. A congressional report said that a commission should monitor the beef industry and allow more importation when American beef is scarce. [CBS]
  • The Nixon administration is dropping its opposition to textile import limits in order to protect the U.S. textile industry. [CBS]
  • President Nixon asked Congress for $65 million for wounded Vietnam veterans' medical needs and drug problems. [CBS]


Stock Market Report

Dow Jones Industrial Average: 792.37 (+0.33, +0.04%)
S&P Composite: 89.79 (-0.28, -0.31%)
Arms Index: 1.61

IssuesVolume*
Advances6323.40
Declines6875.94
Unchanged2901.19
Total Volume10.53
* in millions of shares

Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish.

Market Index Trends
DateDJIAS&PVolume*
April 1, 1970792.0490.079.81
March 31, 1970785.5789.638.37
March 30, 1970784.6589.639.60
March 26, 1970791.0589.9211.35
March 25, 1970790.1389.7717.50
March 24, 1970773.7687.988.84
March 23, 1970763.6086.997.33
March 20, 1970763.6687.067.91
March 19, 1970764.9887.428.93
March 18, 1970767.9587.549.79


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