News stories from Friday June 26, 1970

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

The fighting going on in the Mideast is the heaviest since the 1967 war. Syria and Israel battled on the Golan Heights today; casualty reports conflict. [CBS] Defense Secretary Melvin Laird reported that there will be bombing raids in Cambodia even after June 30; the primary purpose is to protect U.S. troops. A sizeable air campaign is continuing. [CBS] Asian affairs specialist Edwin Reischauer says that the Red Chinese military threat is less now than it was in the 1950's because economic setbacks have decreased China's power. [CBS] Former U.N. General Assembly chairman Lester Pearson predicts that the United Nations is destined to failure unless steps for international peace are taken. [CBS] Street fighting in Northern Ireland followed today's arrest of Bernadette Devlin for inciting a riot last year; British troops have been sent in. [CBS] The Czech Communist party has expelled Alexander Dubcek. [CBS] President Nixon assessed his presidency so far and cited the successes of his administration: troop withdrawals from Vietnam; the "Nixon Doctrine"; the end of secret U.S. involvement in Laos; the end of the stockpiling of chemical and biological weapons; NATO; Strategic Arms Limitation Talks; welfare reform; draft reform; budget restraints; administration reorganization; Post Office reform; preserving the environment; civil rights; reestablishing confidence in the presidency.Not everyone agrees that the list is valid. [CBS] A federal judge has discarded the desegregation plan for Richmond, Virginia, saying that schools won't open in the fall unless a better plan is made. [CBS] The Penn Central Railroad claimed that its payroll will be met. [CBS] Chicago Teamsters and a local union rejected a contract; the two-month strike and lockout continues. [CBS] Charles Manson's murder trial has been over-publicized. Manson is a hippie mystic leader charged with seven murders, for which he and three girls are on trial in Los Angeles. Jury selection is difficult because most jurors are prejudiced. Manson claims that a fair trial is impossible.The prosecution will ask for the death penalty for all defendants. [CBS] A Colombian airliner and its crew were hijacked to Cuba for the second time. [CBS]

Stock Market Report

Dow Jones Industrial Average: 687.84 (-5.75, -0.83%)
S&P Composite: 73.47 (-0.55, -0.74%)
Arms Index: 2.06

	Issues	Volume*
Advances	421	1.57
Declines	826	6.35
Unchanged	303	1.24
Total Volume		9.16

* 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 25, 1970	693.59	74.02	8.20
June 24, 1970	692.29	73.97	12.63
June 23, 1970	698.11	74.76	10.79
June 22, 1970	716.11	76.64	8.70
June 19, 1970	720.43	77.05	10.98
June 18, 1970	712.69	76.51	8.87
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