News stories from Tuesday September 15, 1970

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

The United Arab Republic stated that the Mideast peace talks are a failure and the United States is aiding Israel. President Nixon is forming a hard line on the Mideast, saying that the Soviet Union is not sincere about peace, and he wants to mend U.S.-Israeli relations.The United Nations appealed to the U.S. and the USSR to halt the Mideast conflict. [CBS] Donald Irwin was shot while trying to hijack a plane from Los Angeles to North Korea; there are no metal detectors at the Los Angeles airport. A Brinks' guard said that he shot the hijacker. Irwin, a former mental patient, carried a gun which only fired blanks. [CBS] Palestinians stated that they will hold the hostages until Arab prisoners are freed. One released hostage said that the hostages don't fear harm; a freed stewardess reported that the guerrillas took $690,000 from a Swiss airplane. [CBS] Ocean liners are now starting security checks. [CBS] An Italian jet crashed in New York City and split in half; only minor injuries were reported. [CBS] President Nixon is planning an eight-day European tour where he will underline the U.S. position regarding the Mideast. [CBS] Communists have surrounded 4,000 Cambodian troops; a major battle is impending. [CBS] Senator Mike Mansfield moved to force a vote on the direct election of the President and doing away with the Electoral College. [CBS] Police battled Black Panthers in New Orleans, sealing off a black neighborhood. Heavily armed officers moved in, receiving and returning gunfire; 14 people were arrested. Panther headquarters was dismantled; both police and blacks are still angry. [CBS] Tropical storm Felice is nearing the Texas coast; hurricane warnings are out. [CBS] The UAW strike against General Motors may be a long one. In Detroit, 350,000 union members are on strike; plants are closed and suppliers are being hurt too. The strike may give Ford an edge on the American compact market.The Nixon administration is worried about the strike's effect on the economy. Commerce Secretary Maurice Stans stated that a long strike will damage the economic recovery in the short run. Bargaining resumes next Tuesday. [CBS] Railroad workers went on strike, but ended it when a court ordered them to resume work. [CBS]

Stock Market Report

Dow Jones Industrial Average: 750.55 (-6.57, -0.87%)
S&P Composite: 81.36 (-0.71, -0.87%)
Arms Index: 1.37

	Issues	Volume*
Advances	296	1.53
Declines	1,016	7.20
Unchanged	263	1.11
Total Volume		9.84

* 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*
September 14, 1970	757.12	82.07	11.90
September 11, 1970	761.84	82.52	12.14
September 10, 1970	760.75	82.30	11.90
September 9, 1970	766.43	82.79	16.25
September 8, 1970	773.14	83.04	17.11
September 4, 1970	771.15	82.83	15.36
September 3, 1970	765.27	82.09	14.11
September 2, 1970	756.64	80.96	9.71
September 1, 1970	758.15	80.95	10.44
August 31, 1970	764.58	81.52	10.74