News stories from Monday November 29, 1982

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

President Reagan leaves tomorrow for a five-day visit to Latin America to mend relations strained by the Falkland war, strengthen economic ties and rally support for Washington's policy in the Caribbean. [New York Times] Democratic leaders began drafting jobs legislation in the House that could cost up to $5 billion and put thousands of people to work renovating public facilities. But Senate Republican leaders warned there would probably not be enough time to consider the measure during the post-election session that began today. [New York Times] President Reagan defended his economic program before the nation's mayors. He denounced the "federal choke-hold on the American economy," which he said is slighting the cities and building "structural deficit" into the federal budget. [New York Times] The growth of rural areas has become so pervasive across the nation that neither sharp cuts in federal funds nor the economic slump is likely to halt such development in the 1980's, according to experts. [New York Times] Senator Howard Cannon denied on the witness stand that he had ever been offered a bribe by a Teamsters' union official. Senator Cannon, a Nevada Democrat, replied "absolutely not" when asked by defense attorneys whether he had agreed to take a bribe in return for scuttling a truck deregulation bill. [New York Times] Fifty studies involving Agent Orange are being conducted or sponsored by the federal government. The studies of the herbicide, which was sprayed over perhaps 20 percent of South Vietnam to defoliate trees and kill crops, range from detailed health examinations of thousands of veterans to small tests of how the chemicals affect laboratory animals. [New York Times] The use of chemical weapons by the Soviet Union and its allies is continuing in Laos, Cambodia and Afghanistan, according to a detailed report submitted to Congress and the United Nations by Secretary of State George Shultz. He accused Moscow of displaying a "cynical disregard for international law."A demand for Soviet withdrawal from Afghanistan was issued again by the United Nations General Assembly. The resolution was approved by a 114-to-21 vote. [New York Times] A review of the exclusionary rule on evidence was set by the Supreme Court. Over the vigorous dissent of three Justices, the Court annnounced it would consider later this term whether to restrict the application of the 68-year-old rule, which requires the exclusion of illegally seized evidence from a criminal trial. [New York Times] Former covert agents were upheld by a federal administrative law judge, who ruled that a group of such agents who worked under contract for the Navy were entitled to Civil Service benefits. Under the decision, more than 150 people who worked for a secret Navy unit in the 1960's and 70's qualify for federal retirement and other benefits. [New York Times] A U.S. arms sale to Pakistan may be in jeopardy, according to Pentagon officials. They said that Pakistan had refused to accept delivery of the first six F-16 fighter-bombers it had ordered because the jets lacked the most advanced American electronic warfare system. But later an official said that negotiators in Islamabad were making progress toward resolving the dispute. [New York Times] A reclusive family in deepest Siberia whose home was spotted from the air in 1978 has attracted a succession of visitors, including a Soviet journalist who has written an account of their life. The family's forebears fled into the Siberian wilderness three centuries ago to elude ecclesiastical changes and the modernization program of Peter the Great. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1002.85 (-4.51, -0.45%)
S&P Composite: 134.20 (-0.68, -0.50%)
Arms Index: 1.36

	Issues	Volume*
Advances	686	19.38
Declines	920	35.28
Unchanged	340	6.42
Total Volume		61.08

* 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*
November 26, 1982	1007.36	134.88	38.81
November 24, 1982	1000.00	133.88	67.15
November 23, 1982	990.99	132.93	72.92
November 22, 1982	1000.00	134.22	74.96
November 19, 1982	1021.25	137.02	70.30
November 18, 1982	1032.10	138.34	77.62
November 17, 1982	1027.50	137.93	84.44
November 16, 1982	1008.00	135.42	102.91
November 15, 1982	1021.43	137.03	78.89
November 12, 1982	1039.92	139.53	95.08