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Wednesday September 16, 1970
. . . where the 1970s live forever!

News stories from Wednesday September 16, 1970


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

  • Jordan is facing a civil war as guerrillas want King Hussein overthrown; fighting rages, and the U.S. State Department is worried. The U.S. opposes guerrilla control of Jordan, which would minimize chances for Mideast peace; King Hussein has a 50-50 chance of surviving this crisis. [CBS]
  • Israeli Prime Minister Golda Meir is in the U.S. to seek aid. [CBS]
  • Three Czechs got 3½ years imprisonment in West Germany for hijacking a Soviet plane; they were seeking asylum. [CBS]
  • President Nixon spoke at Kansas State University, where he denounced lawbreakers and called for American solidarity. Hecklers were drowned out by applause; only 30 of the 15,500 who attended demonstrated against the President. [CBS]
  • Vice President Spiro Agnew was heckled during a speech in Saginaw, Michigan. Agnew spoke on behalf of Senate candidate Lenore Romney and denounced hecklers as Democrat supporters.

    A Grand Rapids, Michigan, man was arrested for threatening to kill Agnew. [CBS]

  • The Pentagon announced that they won't end Reserve Officers' Training Corps programs or radically alter methods. [CBS]
  • Democrat Senators Edward Kennedy, Joseph Tydings, Henry Jackson, John Pastore and Hubert Humphrey won their primaries. Two antiwar House candidates surprisingly won Democrat primaries over incumbents: Father Robert Drinan beat Philip Philbin in Massachusetts, and George Fallon fell to Paul Sarbanes in Maryland. [CBS]
  • The House limited the amount which can be spent on radio and television during political campaigns, but the limit won't affect this fall's elections. [CBS]
  • Ford Motor Company upped their car prices by 5%. [CBS]
  • 13 American helicopters have been destroyed or damaged in recent action in Indochina. Communists currently surround 4,000 Cambodian troops, and may wipe them out. [CBS]
  • White House advisers John Ehrlichman and George Shultz began a tour of Southeast Asia to discuss the post-war economy. [CBS]
  • The administration compromised with Senate critics to push the welfare reform bill. [CBS]
  • The Transportation Department admits that the supersonic transport has pollution problems but wants the program continued anyway. [CBS]
  • A hormone used to fatten cattle may cause cancer; the FDA lets farmers double the recommended dosage but forbids feeding it to cattle for 48 hours before slaughter. [CBS]


Stock Market Report

Dow Jones Industrial Average: 754.31 (+3.76, +0.50%)
S&P Composite: 81.79 (+0.43, +0.53%)
Arms Index: 0.68

IssuesVolume*
Advances7767.67
Declines5003.34
Unchanged2821.08
Total Volume12.09
* 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
DateDJIAS&PVolume*
September 15, 1970750.5581.369.83
September 14, 1970757.1282.0711.90
September 11, 1970761.8482.5212.14
September 10, 1970760.7582.3011.90
September 9, 1970766.4382.7916.25
September 8, 1970773.1483.0417.11
September 4, 1970771.1582.8315.36
September 3, 1970765.2782.0914.11
September 2, 1970756.6480.969.71
September 1, 1970758.1580.9510.44


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