News stories from Tuesday August 18, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The State Department reports that U.S. reconnaissance planes show a United Arab Republic military build-up near the Suez Canal, but not as serious as Israel claims. U.S. information proves that the United Arab Republic increased the number of surface-to-air missiles both before and after the cease-fire. [CBS]
- Heavy rains slowed fighting in Vietnam. Highway 1, the important link between Danang and Hue, is open and safe. The Viet Cong charged the U.S. and South Vietnam with a troop build-up in Laos; the State Department denied the report. [CBS]
- Senator Thomas Dodd reopened hearings on marijuana use by soldiers in Vietnam. Dodd claims that he Army is doing little about drug use. An ex-Marine sergeant said that men blew up a grenade under his bed after he tried to stop their drug use. [CBS]
- Congress will recommend suspending further supersonic transport funds. [CBS]
- The Senate followed the House and overrode President Nixon's veto of the education bill. The President says that the bill is too costly, but even most Republicans disagree. [CBS]
- Senator George McGovern says that the Nixon administration is intimidating the press and exploiting the media for propaganda. Senator Mark Hatfield accused Vice President Spiro Agnew of simplifying complex issues and said that Agnew is raising money for Republicans by dividing Americans. [CBS]
- The Navy has buried Army nerve gas at sea in the Atlantic Ocean; the ship carrying the gas was sunk three miles deep. The Army announced that it won't dump chemicals in the ocean again.
The Army is scheduled to dump 5,000 tons of old explosives off of the Maryland coast.
[CBS] - Florida scientist Wallace Minto reported that Datsun has purchased his design for a pollution-free engine which burns freon. [CBS]
- Angela Davis was placed on the FBI's "Most Wanted List" for buying the guns which were used in the San Rafael, California courthouse shootout. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 716.66 (+7.60, +1.07%)
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 17, 1970 | 709.06 | 75.33 | 6.94 |
| 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 |