News stories from Friday February 5, 1982

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

A preview of the 1983 budget was given to members of Congress by administration officials who said that it projects total spending of $757.6 billion and a deficit of $91.5 billion. David Stockman, director of the Office of Management and Budget, said at a news conference that "we're facing severe deficits." [New York Times] The jobless rate declined three-tenths of one percentage point in January to 8.5 percent of the nation's workforce, according to a revised report by the Bureau of Labor Statistics that put the number of people out of work at more than 9,298,000. But the number of employed people declined for the third consecutive month and more than 235,000 workers were dropped from payrolls, most of them in durable goods manufacturing. [New York Times] A reversal in government openess is expected to follow an administration proposal to Congress to let government officials invoke national security more easily in keeping information from the public. [New York Times] A man holding three hostages at a Memphis hospital was shot and killed by the police. Jean Claude Goulet, 40 years old, of LaPlace, La., was holding two women and a man, who were unharmed. Mr. Goulet was said to have "never recovered" from the leukemia death of his son at St. Jude Children's Research Hospital. [New York Times] Government-protected butterflies are preventing the residential development of 3,600 acres on San Bruno Mountain south of San Francisco, described by a local official as one of the largest undeveloped urban land tracts in the United States. Three species of rare butterflies, two of them designated as endangered, have prevented a real estate concern, which acquired the tract nine years ago, from going ahead with building plans. [New York Times] A Soviet military attache was trapped by the Federal Bureau of Investigation with the aid of an informer. The attache, Gen. Vasily Chitov, was later declared persona non grata and expelled. [New York Times] The U.S. is sending helicopters to El Salvador to replace craft recently destroyed or damaged in a guerrilla attack. They are among $55 million in Defense Department equipment that will be sent to El Salvador under an emergency order signed this week by President Reagan. [New York Times] A pledge to pursue ties with Israel even after the completion of the Israeli withdrawal from Sinai on April 25 was made by President Hosni Mubarak of Egypt. "This policy is irreversible," Mr. Mubarak said in a speech at the National Press Club in Washington. "It is the trend of the future." [New York Times] Isolation of Israel was urged in a resolution adopted by the United Nations General Assembly concerning Israel's annexation of the Golan Heights. Eighty-six nations of the third world and the Soviet bloc voted for the document, and 21, including the United States, voted against it. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 851.03 (+4.00, +0.47%)
S&P Composite: 117.26 (+0.84, +0.72%)
Arms Index: 0.68

	Issues	Volume*
Advances	1,040	37.96
Declines	402	9.97
Unchanged	414	5.42
Total Volume		53.35

* 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*
February 4, 1982	847.03	116.42	53.30
February 3, 1982	845.03	116.48	49.56
February 2, 1982	852.55	118.01	45.01
February 1, 1982	851.69	117.78	47.73
January 29, 1982	871.10	120.40	73.40
January 28, 1982	864.25	118.92	66.68
January 27, 1982	842.66	115.74	50.05
January 26, 1982	841.51	115.19	44.86
January 25, 1982	842.75	115.41	43.17
January 22, 1982	845.03	115.38	44.39