News stories from Tuesday July 21, 1970

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

The cost of living was up 0.4% last month, but the administration sees progress. Treasury Secretary David Kennedy says that administration policies are ending inflation, while Senator William Proxmire denied President Nixon's charge that Congress is increasing inflation. [CBS] The House Banking Committee has given President Nixon the power to freeze wages and prices until March; Nixon doesn't want that power. [CBS] Communists inflicted heavy casualties in Cambodia; South Vietnam set up an artillery base near the Laotian border. South Vietnamese troops may invade Laos, but U.S. air support won't follow them into Laos. [CBS] The South Vietnam government wil repair, but not remove, the Con Son prison tiger cages. [CBS] The Senate Foreign Relations committee held a hearing on U.S. involvement in Laos. The White House ordered that no record be kept of the testimony, a move that was denounced by Democrats as censorship. The administration is concerned about future plans and negotiations. [CBS] President Nixon discussed the Paris Peace Talks with the National Security Council; Peace Talks Ambassador David Bruce was briefed on the situation in Vietnam. Ambassador Ellsworth Bunker says that he doesn't want South Vietnam President Nguyen Van Thieu to be sacrificed on the negotiating table. [CBS] The United States plans to withdraw 20,000 troops from South Korea; the Seoul government has threatened to resign if that happens. [CBS] The United Arab Republic reported that an Israeli pilot they captured is an American; the State Department is investigating. Israel says that the pilot has been an Israeli citizen for nine years. [CBS] Hurricane Becky chased tourists from Florida beaches. [CBS] Interior Secretary Walter Hickel established new regulations regarding explosives as the Senate investigates terrorist bombings. The Illinois Crime Commission director stated that leftist organizations are allying against the police in order to increase anarchy in the United States.Government manuals describe demolition tactics. [CBS] Venereal disease is making a comeback in America. California Governor Ronald Reagan previously vetoed a bill to let teenagers buy prophylactics, but state Senator Anthony Beilenson says that he has learned Reagan will sign the bill this year. There are two million venereal disease patients in the United States each year; the epidemic is getting worse. [CBS]

Stock Market Report

Dow Jones Industrial Average: 722.07 (-11.84, -1.61%)
S&P Composite: 76.98 (-0.74, -0.95%)
Arms Index: 1.41

	Issues	Volume*
Advances	398	2.00
Declines	920	6.54
Unchanged	264	1.41
Total Volume		9.95

* 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*
July 20, 1970	733.91	77.72	11.66
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