News stories from Wednesday December 1, 1982

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

Edward Kennedy said his decision not to run for President in 1984 was prompted by his desire not to expose his children to campaign pressures. The Massachusetts Senator, speaking at a news conference, said he would not accept a draft for the Democratic nomination in 1984, but he did not rule out a presidential candidacy for 1988 or later. Senator Kennnedy said his pending divorce "has been painful" for his three children, who range in age from 15 to 22. He denied he was withdrawing because of public doubts about his character arising from the Chappaquiddick incident. [New York Times] Support for an immigration bill appears to be increasing in Congress largely because the measure would help reduce unemployment by giving American citizens a chance to gain jobs now held by illegal aliens. The legislators seem more interested than earlier in passing a comprehensive measure this year. [New York Times] Doctors would be exempt from some regulations of the Federal Trade Commission under a bill passed by a 245-to-155 vote in the House. The exemptions, which were approved because of congressional dissatisfaction with the regulatory agency, would also apply to other medical and all other state-licensed professionals. [New York Times] A key research program on pollution linked with acid rain was sharply curtailed by the Reagan administration despite its insistence that more research is needed before it undertakes a costly regulatory program to control acid rain. [New York Times] A blizzard covered some Rocky Mountain communities with waist-deep snow. The South was drenched by torrential rains, with nearly 8 inches falling in Birmingham and up to 7 inches in northern Louisiana. [New York Times] A lawsuit against the Yankees is being pressed by New York City following the collapse of negotiations over the team's plan to play its first three home games in Denver next spring. The dispute centers on the pace of repair work the city is carrying out at Yankee Stadium. [New York Times] The sale of "horseburgers" and horse-steak sandwiches from midtown pushcarts began in Manhattan as the city's Health Deparment announced it had approved the sales by a Connecticut company. Its vice president said the concern had been slaughtering horses for export to Europe and the Middle East for 10 years and had been selling horsemeat sandwiches from carts in Boston, Hartford and New Haven for several months. [New York Times] American loans to Brazil totaling $1.2 billion were announced by President Reagan. Amid a round of talks in Brasilia, Mr. Reagan said Washington would provide the emergency short-term loans to help Brazil overcome its huge debt problem, and he praised Brazil's leaders for taking austerity measures. [New York Times] Austerity moves in Mexico were announced by Miguel de la Madrid Hurtado at his swearing-in as President. His program calls for budget cuts, new taxes, price increases, postponement of public works projects, higher interest rates and eased foreign exchange controls. [New York Times] The P.L.O. is drifting in search of an independent base of operations and a new political strategy three months after Yasser Arafat and 12,000 of the Palestinian fighters were forced by Israeli forces to leave West Beirut. For the Palestine Liberation Organization, Lebanon was the fountain where its members first tasted power, and talks with Palestinians in six Arab countries find many of them now feeling lost without it. [New York Times] The slaying of Palestinian civilians in West Beirut in September was called "a Lebanese reaction from the relatives and parents of our martyrs" by a leader of a Lebanese Christian faction. The rightist leader, Etienne Saqa, said that, for eight years, during Lebanon's civil war, the world ignored the killings of Christians by the Palestinian guerrillas. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1031.09 (-8.19, -0.79%)
S&P Composite: 138.72 (+0.18, +0.13%)
Arms Index: 1.12

	Issues	Volume*
Advances	998	55.18
Declines	671	41.51
Unchanged	306	11.16
Total Volume		107.85

* 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*
November 30, 1982	1039.28	138.54	93.47
November 29, 1982	1002.85	134.20	61.07
November 26, 1982	1007.36	134.88	38.81
November 24, 1982	1000.00	133.88	67.15
November 23, 1982	990.99	132.93	72.92
November 22, 1982	1000.00	134.22	74.96
November 19, 1982	1021.25	137.02	70.30
November 18, 1982	1032.10	138.34	77.62
November 17, 1982	1027.50	137.93	84.44
November 16, 1982	1008.00	135.42	102.91