News stories from Thursday June 18, 1970

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

The cost of living increased 0.4% in May after rising 0.6% in April. Food, homes, used cars and clothes were all more expensive than in the previous month. The Nixon administration reported hopeful signs that inflation is coming under control. [CBS] Treasury Secretary David Kennedy reported that President Nixon may seek tax increases next year and won't extend the income tax surcharge. [CBS] Communists cut Highway 1 from Phnom Penh to Saigon; the Cambodian capitol fears attack. The U.S. withdrawal deadline is in two weeks. [CBS] Today's 71st session of the Paris Peace Talks was fruitless. [CBS] The Pottstown (Pa.) Mercury newspaper printed a plea in Vietnamese to release American POWs, and asked readers to send the request to Hanoi. [CBS] Former Indonesian President Sukarno is ill, and reported to be in critical condition. [CBS] The Senate held a night session in order to untangle the Cambodian debate. The Democrats agreed to soften the Cooper-Church amendment and give the President the right to protect U.S. troops anywhere. [CBS] President Nixon has asked Congress to consolidate social programs and give more administrative responsibility to the states; he also called for a $260 million increase in funds for foster children. [CBS] The Nixon administration will increase the police power of federal anti-pollution agencies. The President has created the Environmental Protection Administration which will take control of air, water, pesticide and radiation pollution from other departments; the new department will simplify environmental protection. [CBS] Miami racial violence and looting continues despite curfews. [CBS] Mrs. Nixon entertained 1,000 children on the White House lawn; most of the kids were from inner-city Washington. Mrs. Nixon appeared relaxed. [CBS] British election results are closer than expected. In a possible upset, the Conservative party is gaining on the incumbent Labour party; 18-year-olds are voting for the first time. [CBS] A bill is on the President's desk to allow 18-year-olds to vote. Signing of the bill may greatly change U.S. voting. Kentucky and Georgia are examples of states where 18-year-olds already can vote; the system works well there. [CBS]

Stock Market Report

Dow Jones Industrial Average: 712.69 (+8.01, +1.14%)
S&P Composite: 76.51 (+0.51, +0.67%)
Arms Index: 0.68

	Issues	Volume*
Advances	661	4.80
Declines	574	2.83
Unchanged	295	1.24
Total Volume		8.87

* 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 17, 1970	704.68	76.00	9.87
June 16, 1970	706.26	76.15	11.33
June 15, 1970	687.36	74.38	6.92
June 12, 1970	684.21	74.21	8.89
June 11, 1970	684.42	74.45	7.77
June 10, 1970	694.35	75.48	7.24
June 9, 1970	700.16	76.25	7.05
June 8, 1970	700.23	76.29	8.04
June 5, 1970	695.03	76.17	12.45
June 4, 1970	706.53	77.36	14.38