News stories from Tuesday April 28, 1970

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

It was announced that President Nixon will give a national economic speech within two weeks. The President is confident about the economy, and the speech is not linked to the recent stock market decline, though Wall Street is angry at Nixon's economic restraints. [CBS] U.S. Steel and Bethlehem Steel profits are down. [CBS] President Nixon will sell two of the three presidential yachts in order to aid the economy. [CBS] China warned the United States that it will support all Indochina Communists against American aggression, and blamed the Nixon administration for the Vietnam war. No direct intervention was threatened, however. [CBS] The United States plans to send a new shipment of captured weapons to Cambodia. [CBS] In Cambodia, Communists repulsed the government's attack on Angtassom, and seized another outpost. Vietnamese Communists hold the highway between Phnom Penh and the South Vietnam border. Cambodian troops are avoiding battles and are waiting for U.S. and South Vietnamese aid. [CBS] U.S. command in Saigon reported that five planes were lost over South Vietnam. A Marine pilot error killed ten government troops near Danang. [CBS] Defense Secretary Melvin Laird said that Vietnam troop withdrawals may cut the draft call by 100,000. [CBS] Israeli plans to settle Jews in occupied Jordan. Arabs are meeting in Jordan to try to thwart that plan. Israel's plans for a military post and farmland in Jordan are opposed by Arabs and even some Jews; Israeli intellectuals and students support Arab claims to the land. [CBS] Nine Haitian revolutionaries were executed today. The Haitian mutineers' ships will be returned from Puerto Rico; they are leaking badly. The crews will probably receive asylum in the United States. [CBS] Justice William O. Douglas opened his files and records to Senate investigators and hired a lawyer for his impeachment defense. [CBS] The American Bar Association endorsed Supreme Court nominee Harry Blackmun. Blackmun is non-political, and his financial and civil rights records are clean. Senator Eugene McCarthy expressed confidence that Blackmun will be approved. [CBS] The Justice Department's civil rights chief told the state of South Carolina that its freedom-of-school-choice plans are unacceptable. [CBS] The Democratic party's reform commission wants more youth, blacks and women representatives at the 1972 convention, and urged more democratic procedures to increase members. [CBS] Ohio asked the Supreme Court to end chemical companies' pollution of Lake Erie and to force retribution. [CBS] Antiwar demonstrators disrupted shareholders' meetings of Gulf Oil and Honeywell. In Minneapolis, 1,500 people marched to the Honeywell corporate offices; some held proxies and entered the meeting. Protesters attempted to force their way in by shattering windows, but police pushed them back. The board of directors was re-elected and then adjourned the meeting. [CBS] The State Department is angry about Swedish protests against American ambassador Jerome Holland. The black ambassador was egged and insulted; the United States may take diplomatic action against Sweden as a result. [CBS]

Stock Market Report

Dow Jones Industrial Average: 724.33 (-10.82, -1.47%)
S&P Composite: 80.27 (-1.19, -1.46%)
Arms Index: 1.07

	Issues	Volume*
Advances	308	2.38
Declines	1,094	9.04
Unchanged	227	1.20
Total Volume		12.62

* 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
Date	DJIA	S&P	Volume*
April 27, 1970	735.15	81.46	10.24
April 24, 1970	747.29	82.77	10.41
April 23, 1970	750.59	83.04	11.05
April 22, 1970	762.61	84.27	10.78
April 21, 1970	772.51	85.38	8.49
April 20, 1970	775.87	85.83	8.20
April 17, 1970	775.94	85.67	10.99
April 16, 1970	775.87	85.88	10.25
April 15, 1970	782.60	86.73	9.41
April 14, 1970	780.56	86.89	10.84