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Thursday May 7, 1970
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News stories from Thursday May 7, 1970

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

  • Americans captured a major Communist base in Cambodia, which may be the sought-for headquarters. Allies discovered the camp two miles from the South Vietnam border. South Vietnam will send a flotilla with medicine and supplies up the Mekong to Phnom Penh. Gunboats will reopen the Mekong to the allies and evacuate Vietnamese refugees. American boats may take part in the flotilla. [CBS]
  • President Nixon promised eight college presidents that he'll lower his administration's criticism of students. Nixon vowed that officials, especially Vice President Spiro Agnew, will avoid the word "bum" and other derogatory remarks. [CBS]
  • 25-year-old Anthony Moffett, a student and youth director in the Department of Health, Education and Welfare, has resigned from his position. Moffett said that the Nixon administration is undercutting youth and he can't support an administration that won't understand and communicate with the young. [CBS]
  • Protesters want a weekend demonstration at the White House, but the government says it can't be held there. The White House ellipse was to be the scene of the protest but the White House refused permission and granted the Washington Monument area instead. Three SDS-Weathermen radicals were reportedly captured near the White House. [CBS]
  • 136 colleges are closed due to the Cambodia and Kent State incidents. All California universities and Ohio State University are closed. [CBS]
  • Two funerals for Kent State victims were held. In Lorain, Ohio, teachers and students attended William Schroeder's funeral; William was an honor student and member of ROTC, not a radical. In New York City, 4,000 attended Jeffrey Miller's funeral. Dr. Benjamin Spock delivered the eulogy. [CBS]
  • NASA announced a two-month delay for Apollo 14 in order to fix the problem that affected Apollo 13. [CBS]
  • The Federal Communications Commission announced a requirement that three of the four hours from 7-11 p.m. consist of non-network television programs. Network reactions were mixed. [CBS]
  • The Labor Department reported that the unemployment rate was 4.8%. [CBS]
  • Transportation Secretary John Volpe wants optional auto safety devices like air bags to be required equipment by 1973. Volpe says that the bags may save 5,000 lives per year. Non-bag equipped 1972 cars must have improved seatbelts. [CBS]

Stock Market Report

Dow Jones Industrial Average: 723.07 (+4.68, +0.65%)
S&P Composite: 79.83 (+0.36, +0.45%)
Arms Index: 1.19

Total Volume9.53
* 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
May 6, 1970718.3979.4714.38
May 5, 1970709.7478.6010.58
May 4, 1970714.5679.3711.45
May 1, 1970733.6381.448.29
April 30, 1970736.0781.529.88
April 29, 1970737.3981.8115.80
April 28, 1970724.3380.2712.62
April 27, 1970735.1581.4610.24
April 24, 1970747.2982.7710.41
April 23, 1970750.5983.0411.05

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