News stories from Monday July 20, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- At Fort Bragg, North Carolina, MP's beat up civilian attorneys for Capt. Jeffrey McDonald and took hair from McDonald's body. The captain is charged with murdering his wife and two daughters; he claims that hippies did it. [CBS]
- Apollo 11 astronauts celebrated the anniversary of the first lunar landing. Only Col. Buzz Aldrin is still an astronaut, the other two have desk jobs now. Neil Armstrong said that he hoped the Apollo 11 moon landing would take people's minds off the mundane problems of society. NASA funds are depleted and the Apollo project may be cut, however the aerospace industry is working on a reusable rocket, known as the "space shuttle". [CBS]
- During a surprise news conference, President Nixon reported that South Vietnam President Nguyen Van Thieu will accept a coalition government after the war ends, but Nixon won't allow a coalition that is imposed by the Communists.
The President also stated that he won't send vigilante attorneys to force southern desegregation, he will veto any protective tariff bill other than the quotas already set for textiles, and said that the economy may have bottomed out.
[CBS] - Communists are sweeping towards Phnom Penh, Cambodia. [CBS]
- Taiwan is building Air Force bases to handle American B-52s even though the United States doesn't plan to use them; China will likely view the move as an act of aggression. [CBS]
- Attorney General John Mitchell wants President Nixon's anti-drug bill to be passed quickly by Congress, and he discussed desegregation. Mitchell said that he isn't worried about Senator Strom Thurmond's denunciation of the administration's desegregation policy. [CBS]
- The last suspect in the murders of two Chicago policemen turned himself in. A 17-year-old street gang leader was the last of four suspects. In Chicago, a spokesman for the Afro American Patrolman's League said that the slain policemen are heroes. Most policemen want the "Walk and Talk" program to continue in order to improve police-community relations and to gain information on street gangs. [CBS]
- The British government is considering the resumption of arms sales to South Africa; sales were stopped in 1964 due to United Nations embargo resolutions. [CBS]
- The House ended its investigation of a CBS documentary on the Haitian revolt and charged that CBS filmed sham events and ignored accuracy and legality. [CBS]
- The administration says that business will improve and the inflation rate will decrease, but unemployment will persist. Economic adviser Paul McCracken and budget director George Shultz said that unemployment will stay below 6%. The Nixon administration and Congress blame each other for inflation. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 733.91 (-1.17, -0.16%)
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* |
| July 17, 1970 | 735.08 | 77.69 | 13.87 |
| July 16, 1970 | 723.44 | 76.34 | 12.20 |
| July 15, 1970 | 711.66 | 75.23 | 8.86 |
| July 14, 1970 | 703.04 | 74.42 | 7.36 |
| July 13, 1970 | 702.22 | 74.48 | 7.45 |
| July 10, 1970 | 700.10 | 74.57 | 10.16 |
| July 9, 1970 | 692.77 | 74.06 | 12.82 |
| July 8, 1970 | 682.09 | 73.00 | 10.97 |
| July 7, 1970 | 669.36 | 71.23 | 10.47 |
| July 6, 1970 | 675.66 | 71.78 | 9.34 |