News stories from Thursday August 27, 1970

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

There are reports that the Soviet Union is still shipping heavy arms to the United Arab Republic. The UAR has become stronger since the cease-fire began, and Israel's military edge is eroding. Israeli Prime Minister Golda Meir is disappointed in the cease-fire, saying that it undermines Israel. [CBS] In Saigon, Vice President Spiro Agnew discussed land reform and pacification with South Vietnam President Nguyen Van Thieu; Agnew may go to Cambodia next. Thailand will pull its troops out of Cambodia to defend their own country. 10,000 (not 20,000) American soldiers will leave South Korea. [CBS] North Vietnam negotiator Xuan Thuy boycotted the Paris Peace Talks today. [CBS] A Miami federal judge ordered that black soldier Pondexteur Williams, who was killed in Vietnam, be allowed to be buried in all-white Hillcrest Cemetery. [CBS] The Commerce Department reported that its index of leading economic indicators was up 1.6% last month; business should pick up. [CBS] The Labor Department added seven cities to the list of those with 6% or more unemployment. There are now 31 cities on the list. [CBS] The Senate has opened new hearings on the supersonic transport; President Nixon wants $290 million for SST development. Senator Warren Magnuson said that the project should help the U.S. labor situation. Massachusetts Institute of Technology scientists warned that the supersonic transport may affect world weather and environment. [CBS] The American Legion opens its convention tomorrow in Portland, Oregon; antiwar protesters are gathering. A rock concert will be held to protest the American Legion's glorification of war. Businesses have hired private guards to help avoid confrontations, and the National Guard has been alerted. The state is holding free rock concerts outside of town to lure youth away from the convention. [CBS] Republican Congressman John Byrnes says that he opposes President Nixon's revenue sharing plan; Rep. Wilbur Mills is against it too. Passage is unlikely. [CBS] Republican Pennsylvania Governor Raymond Shafer is helping Democrats plan their campaign platform; like them, he wants tax reform. [CBS] Former President Lyndon Johnson celebrated his 62nd birthday quietly; a state park will be dedicated in his name on Saturday. [CBS]

Stock Market Report

Dow Jones Industrial Average: 759.79 (-0.68, -0.09%)
S&P Composite: 81.08 (-0.13, -0.16%)
Arms Index: 1.05

	Issues	Volume*
Advances	653	5.43
Declines	625	5.47
Unchanged	305	1.54
Total Volume		12.44

* 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 26, 1970	760.47	81.21	15.97
August 25, 1970	758.97	81.12	17.52
August 24, 1970	759.58	80.99	18.91
August 21, 1970	745.41	79.24	13.42
August 20, 1970	729.60	77.64	10.17
August 19, 1970	723.99	76.96	9.87
August 18, 1970	716.66	76.20	9.50
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