News stories from Tuesday August 4, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon's remark about Charles Manson's guilt reached the courtroom today when Manson held up a newspaper with the headline "Manson Guilty, Nixon Declares"; jurors had been isolated from that news. Defense attorneys asked again for a mistrial, but the judge denied that request and also denied Manson's request to represent himself. [CBS]
- Hurricane Celia killed nine people in Texas and caused vast damage. At Corpus Christi, 160 mile per hour winds ripped the Texas coast. The National Guard is keeping order in the storm's aftermath. Small towns have been hit hard; some have no power or water. [CBS]
- United Nations mediator Gunnar Jarring discussed the Mideast cease-fire plan with Israeli and Arab representatives. Israel formally accepted the peace plan but won't leave occupied land without a binding treaty; officials are hoping for a cease-fire within one week. The U.S. confirmed reports that Soviet pilots are fighting for the United Arab Republic. [CBS]
- The Pentagon denied that there has been any change in Cambodia bombing policy, but Saigon officials report that up to 50 U.S. planes per day are supporting Cambodian troops.
200 Con Son Prison inmates revolted and were suppressed.
[CBS] - President Nixon endorsed the $55,000 farm subsidy limit passed by the House. [CBS]
- Hearings began regarding network television time for Congress. Senator William Fulbright says that television strengthens the President, not Congress, and he stated that that Vice President Agnew intimidates the media. [CBS]
- The Bahamas opposes the Army's plan to dump nerve gas there, and Florida Governor Claude Kirk is seeking an injunction against the move of the gas through his state. Scientists have warned against dumping nerve gas in the ocean. [CBS]
- A Soviet freighter hit a ferry Sunday near Vancouver, British Columbia. The freighter nearly cut the ferry in half; neither vessel sank but three people were killed. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 725.90 (+2.94, +0.41%)
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* |
| August 3, 1970 | 722.96 | 77.02 | 7.65 |
| July 31, 1970 | 734.12 | 78.05 | 11.64 |
| July 30, 1970 | 734.73 | 78.07 | 10.43 |
| July 29, 1970 | 735.56 | 78.04 | 12.58 |
| July 28, 1970 | 731.45 | 77.77 | 9.04 |
| July 27, 1970 | 730.08 | 77.65 | 7.46 |
| July 24, 1970 | 730.22 | 77.82 | 9.52 |
| July 23, 1970 | 732.68 | 78.00 | 12.46 |
| July 22, 1970 | 724.67 | 77.03 | 12.46 |
| July 21, 1970 | 722.07 | 76.98 | 9.94 |