News stories from Monday August 17, 1970

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

At a meeting of VFW veterans today, Vice President Spiro Agnew attacked Senate doves and the McGovern-Hatfield amendment. Agnew called the amendment a blueprint for U.S. defeat and chaos in Southeast Asia, and he praised the Cambodian invasion; Agnew received a standing ovation. Senator George McGovern said that Agnew is wrong and is taking a mistaken course.An amendment to end the war would lose now in Congress, but changes are being made. [CBS] China signed a military aid agreement with Prince Norodom Sihanouk's Cambodian government in exile. [CBS] American B-52s hit Communists who were attacking seven bases in northern South Vietnam. [CBS] Israel and the U.S. are at odds over Israeli charges that the United Arab Republic has violated the Mideast cease-fire. Foreign Minister Abba Eban criticized the U.S. for impugning Israel's integrity. The Nixon administration is irritated at the Israeli charges and their refusal to start peace talks; Israel won't talk peace until the U.S. admits that the charges of cease-fire violations are true and takes diplomatic action. [CBS] U.S. oil import laws are being debated; present quotas protect the American oil industry and keep prices high. President Nixon rejected a move to substitute tariffs for quotas, saying that he will revise the quota system. Oil companies are pleased. [CBS] The Water Hygiene Bureau reported that 16% of American water systems are potentially hazardous; 25% are inferior in taste, odor, or color, but are still safe to drink. [CBS] Explosions hit Minneapolis, Minnesota, and Omaha, Nebraska. In Minneapolis, a blast ripped the federal building; 24 sticks of dynamite caused $500,000 damage. Six false bomb threats followed the blast. In Omaha, a fake call for help lured policemen to a house where a bomb in a booby-trapped suitcase killed one and injured seven. [CBS] Linda Kasabian stated that she's an emissary from God who was sent to show Charles Manson as a devil and a false prophet. [CBS] The Soviets have launched their seventh unmanned probe of Venus. [CBS]

Stock Market Report

Dow Jones Industrial Average: 709.06 (-1.78, -0.25%)
S&P Composite: 75.33 (+0.15, +0.20%)
Arms Index: 1.13

	Issues	Volume*
Advances	556	2.56
Declines	637	3.32
Unchanged	325	1.06
Total Volume		6.94

* 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*
August 14, 1970	710.84	75.18	7.85
August 13, 1970	707.35	74.76	8.64
August 12, 1970	710.64	75.42	7.44
August 11, 1970	712.55	75.82	7.33
August 10, 1970	713.92	76.20	7.58
August 7, 1970	725.70	77.28	9.37
August 6, 1970	722.82	77.08	7.56
August 5, 1970	724.81	77.18	7.66
August 4, 1970	725.90	77.19	8.31
August 3, 1970	722.96	77.02	7.65