News stories from Friday May 1, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- 25,000 South Vietnamese and U.S. troops moved deeper into Cambodia seeking Communist headquarters, but there was little direct enemy contact. The Communists' command post may have been moved, therefore the incursion may last longer than reported. Cambodian officials privately expressed their approval of the U.S. invasion. [CBS]
- President Nixon appeared haggard after his speech. The President praised American kids who are fighting in Vietnam, and contrasted them to "bums" on college campuses.
The Senate Foreign Relations Committee has asked for a meeting with President Nixon; the last Foreign Relations Committee meeting with a president occurred in 1919. Senator William Fulbright says that the President has a constitutional responsibility to consult Congress on war decisions. Senator Strom Thurmond praised Nixon's move, saying that the President knows things that the Senate doesn't. Some Senators want the purse strings for the war to be cut, and may be trying to force an Executive-Legislative constitutional crisis.
Senator Edward Kennedy criticized the President's move and denounced him eloquently, calling the Cambodian invasion "madness."
[CBS] - America's Far Eastern allies backed the U.S. move in Cambodia; Warsaw Communists denounced it. France said that the invasion will escalate the war, and Canada "regrets" the U.S.' action. [CBS]
- The invasion of Cambodia spurred many protests on college campuses. Violence at the University of Maryland led to the mobilization of the National Guard after 1,000 students blocked a highway; there were few injuries and arrests. The National Guard was not used although a ROTC building was sacked.
There were firebombings at Oregon State University and at Hobart College, and there was destruction at Stanford University. The National Student Association announced that it is seeking the impeachment of President Nixon and called for a mass strike.
[CBS] - The Senate Finance Committee suspended its action on welfare reform and demanded that the President's plan be changed. [CBS]
- Attorney General John Mitchell defended the Supreme Court at a meeting of the Washington Bar Association. Mitchell denounced critics of the court and noted that criticism is widespread, but unfounded. One bar member condemned the Cambodian incursion. [CBS]
- The Washington, DC postal union threatened to resume its strike if the 8% pay raise is not passed soon. [CBS]
- Environmentalists claim that laundry detergents pollute water, and they are demanding a reduction in the phosphate content of detergents. [CBS]
- Yale students protested the Black Panther murder trial in New Haven; the National Guard is stationed throughout the city. Today 12,000-15,000 people attended a rally supporting the Panthers. The crowd was smaller than expected, but peaceful. [CBS]
- Mafia boss Joseph Columbo and other Italians picketed the New York City FBI office, claiming FBI harassment of Italian-Americans. [CBS]
- The Army charged Capt. Jeffrey MacDonald with the murder of his wife and two daughters at Fort Bragg. MacDonald had blamed three hippie types for the killings. [CBS]
- The Apollo 13 accident is being blamed on a short circuit in a fan. [CBS]
- Sesame Street, an educational television show, has been banned in Mississippi due to its integrated cast. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 733.63 (-2.44, -0.33%)
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 30, 1970 | 736.07 | 81.52 | 9.88 |
| April 29, 1970 | 737.39 | 81.81 | 15.80 |
| April 28, 1970 | 724.33 | 80.27 | 12.62 |
| 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 |