News stories from Thursday June 4, 1970

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

A TWA jet has been hijacked from Phoenix, Arizona to Washington, DC with 52 passengers aboard. Hijacker Arthur Barkley is demanding $100 million in small bills; he has a grudge against the Supreme Court for not hearing his $471 income tax case. $100,000 in ransom has been paid so far; the plane departed from Washington but is now thought to be returning to DC for the rest of the money. [CBS] A TWA jumbo jet skidded off a runway at Kennedy Airport; there were no injuries. [CBS] Altough the White House is promising big Vietnam troop withdrawals, the Pentagon reported that there will be no withdrawal until the Cambodia mission is over, and even then at a lower rate. Troop pullouts have been slowed by 20% until October. [CBS] Communist peace talk representatives in Paris denied the success of the U.S. operation in Cambodia and claimed that President Nixon is seeking a military victory. [CBS] South Vietnam Vice President Nguyen Cao Ky is in Phnom Penh to plan joint South Vietnam-Cambodia strategy. [CBS] Senators have urged Secretary of State William Rogers to sell jets to Israel; Rogers implies that the sale is likely. Senator Hugh Scott is guardedly optimistic but fears Arab repercussions. Morocco Prime Minister Ahmad al Aki has asked President Nixon to refuse the sale. [CBS] Israeli jets hit Egyptian positions in the Suez region. [CBS] West Germany and the Soviet Union will discuss a non-aggression pact. [CBS] Nazi economic minister Hjalmar Schacht has died at 93; he was acquitted of war crimes at the Nuremberg Trials. [CBS] The federal government is planning an experiment to let ghetto kids attend better schools; dissatisfied parents would submit a voucher, and the child could attend the participating school of his choice. The plan may perpetuate segregated schools, however. [CBS] Health officials burned Huaraz, Peru due to the danger from decomposing earthquake victims. Most earthquake victims are isolated and need medical supplies, food and water. Mountain roads and airstrips were destroyed; cold and starvation are taking a heavy toll. [CBS] The FDA has approved L-Dopa, a drug for Parkinson's disease. The drug should relieve most patients, but may have dangerous side effects. [CBS] President Nixon honored 119 high school Presidential Scholars; 33 of them signed a letter opposing the Indochina war. The President told the students that they're lucky to live in America during a time of challenge. [CBS] A mass for the four Kent State University students who were killed in May was held, sparking another protest. The university administration wants to reopen peacefully but some students are demanding reforms before allowing the college to reopen.The town of Kent passed a mandatory suspension law for students arrested in riots. The National Guard reportedly has received 10,000 letters since the shootings, 9,000 in favor of the Guard. [CBS] The White House announced that it will appoint a commission to study campus violence. [CBS] A 14-year-old eighth grader won the national spelling bee in 26 words; "croissant" was the winning word. [CBS]

Stock Market Report

Dow Jones Industrial Average: 706.53 (-7.33, -1.03%)
S&P Composite: 77.36 (-1.16, -1.48%)
Arms Index: 2.37

	Issues	Volume*
Advances	468	2.39
Declines	914	11.05
Unchanged	215	0.94
Total Volume		14.38

* 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*
June 3, 1970	713.86	78.52	16.60
June 2, 1970	709.61	77.84	13.48
June 1, 1970	710.36	77.84	15.02
May 29, 1970	700.44	76.55	14.63
May 28, 1970	684.15	74.61	18.91
May 27, 1970	663.20	72.77	17.46
May 26, 1970	631.16	69.29	17.03
May 25, 1970	641.36	70.25	12.66
May 22, 1970	662.17	72.25	12.17
May 21, 1970	665.25	72.16	16.71