News stories from Tuesday May 5, 1970

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

President Nixon briefed the Senate Foreign Relations Committee, the House Foreign Affairs Committee and the Senate and House Armed Services Committees regarding Cambodia; all of those groups are split on the Cambodian question. President Nixon's decision to invade Cambodia went against two key cabinet members: Secretary of State William Rogers mildly opposed the President's move and Secretary of Defense Melvin Laird was strongly against it. [CBS] At least 114 American colleges are on strike, some with approval of the university administration. University of California-Berkeley radicals tried to burn the ROTC building; Washington University at St. Louis' ROTC building was burned as students chanted, "Remember Kent". The shooting deaths of four students at Kent State University aggravated violence at many schools but a majority of students are not involved in protests.At Kent State, 2,000 troops and police imposed martial law on campus. Classes are canceled indefinitely after two men and two women were killed by National Guard gunfire on Saturday. Guard commanders claim that their men were threatened by students. The Guard considered rocks to be lethal weapons and returned fire. The dead students are: William Schroeder, honor student and athlete; Sandra Scheuer, honor student; Jeffrey Miller, honor student; Allison Krause, honor student. [CBS] Mrs. Nixon has canceled her college tour due to student unrest. President Nixon canceled his New Mexico trip for reasons unknown. [CBS] Cambodia publicly approved the U.S. invasion and retracted its protest. [CBS] The U.S. launched a new offensive on the Ho Chi Minh Trail. Earlier, the ARVN found a major enemy base just inside Cambodia. Allied troops seized an underground Communist city in Cambodia along with important supplies and information; resistance was lighter than expected. [CBS] U.N. Secretary General U Thant wants a conference on Indochina, but admitted that the chances for a productive meeting are slim. [CBS] England's Labour Party rejected demands to denounce the U.S. invasion of Cambodia but said that Cambodia may adversely affect American plans for troop withdrawal from Vietnam. [CBS] Saigon closed all schools to halt protests against President Nguyen Van Thieu. [CBS] South Vietnamese legislator Tran Ngoa Chau's trial has been ruled unconstitutional. He was jailed for Communist activity, and may be released soon. [CBS] Chevron Oil Company is being charged with 900 counts of violations of anti-pollution laws and may be fined $1.8 million. [CBS] The Senate Judiciary Committee voted to approve Supreme Court nominee Harry Blackmun. [CBS] The black vote may cost George Wallace in the Alabama gubernatorial primary today. [CBS] Apollo 13 astronauts paid their debt of gratitude to Grumman Aircraft. The crew visited the plant at Bethpage, New York, today to say "thank you" to the aircraft workers for the lunar module which saved their lives. [CBS]

Stock Market Report

Dow Jones Industrial Average: 709.74 (-4.82, -0.67%)
S&P Composite: 78.60 (-0.77, -0.97%)
Arms Index: 1.38

	Issues	Volume*
Advances	311	1.70
Declines	1,039	7.83
Unchanged	243	1.06
Total Volume		10.59

* 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*
May 4, 1970	714.56	79.37	11.45
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