News stories from Monday May 4, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Regarding the weekend incident at Kent State University, the White House issued a statement favoring peaceful dissent as opposed to violence. A Justice Department investigation of student protests is probable. [CBS]
- Most campuses were quiet today. The National Student Association repeated its call for a nationwide student strike, and they are appalled by the Kent State incident. [CBS]
- The Soviet Union and China denounced America's invasion of Cambodia and pledged to support the Cambodian Communists. [CBS]
- Defense Secretary Melvin Laird reported a halt in U.S. bombing of North Vietnam. Bombing will be resumed if the Communists shoot down unarmed planes. [CBS]
- Cambodian Communists have cut off Phnom Penh from the Mekong River. 2,000 allied troops were flown in to protect the city and American Green Berets assisted them. Communist military headquarters in Cambodia may have been found. [CBS]
- The Senate Foreign Relations Committee opposes the Cambodia incursion. The committee charged that President Nixon is conducting a constitutionally-unauthorized war, and wants a meeting with him. Congress is also trying to cut funding for the Vietnam war. [CBS]
- Soviet Premier Alexei Kosygin admitted that Soviet advisers are assisting Arabs in the Mideast but gave no details. [CBS]
- Paraguayan terrorists killed a woman in that country's Israeli embassy; they were after the ambassador. [CBS]
- The Supreme Court ruled that church tax exemptions are legal. It upheld the prohibition of mailing pornography to unwilling people, and also ruled that a guilty plea excludes a later claim of unconstitutional coercion. [CBS]
- The Ohio, Indiana and Alabama primaries are tomorrow. In Alabama, George Wallace's position is weaker than before; polls show Governor Albert Brewer leading the Democratic primary. The race is a toss-up. [CBS]
- The AFL-CIO endorsed judge Harry Blackmun for the Supreme Court. [CBS]
- H. Rap Brown failed to appear in court again. Brown's bond has been forfeited and his arrest ordered. His whereabouts remain unknown. [CBS]
- The Labor Department announced that it found no link between Joseph Yablonski's murder and his earlier bid for the presidency of the United Mine Workers. [CBS]
- The House Ways and Means Committee passed a 5% boost in Social Security. The full House is expected to also pass the measure. [CBS]
- Seymour Hersh received the Pulitzer Prize for International Reporting for his exposure of the 1968 My Lai massacre. William Eaton gets the national reporting prize for his coverage of Judge Clement Haynsworth. Dean Acheson received the history award for his book "Present at the Creation." [CBS]
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Stock Market Report
Dow Jones Industrial Average: 714.56 (-19.07, -2.60%)
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* |
| May 1, 1970 | 733.63 | 81.44 | 8.29 |
| 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 |