News stories from Wednesday October 7, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon's new peace plan for Indochina may include a cease-fire, increased troop withdrawals and an international peace conference for Southeast Asia; the Cambodian ambassador says that a cease-fire is unacceptable unless Communists get out of the country.
North Vietnam rejected a cease-fire previously.
[CBS] - Former French President Charles DeGaulle says that he warned John F. Kennedy that involvement in Vietnam would be endless. [CBS]
- North Vietnam used nausea gas on Cambodians, killing civilians. [CBS]
- Military money has doubled in value due to South Vietnam's devaluation of its currency. [CBS]
- Left-wing general Juan Jose Torres now heads the Bolivian government; he is the third leader of the government in the last three days. [CBS]
- The United Arab Republic's National Assembly has nominated Anwar Sadat to be President; Sadat is expected to win a national referendum. [CBS]
- The president of Lebanon has appointed pro-UAR legislator Saeb Salam as Premier. [CBS]
- French President George Pompidou met with Soviet Premier Alexei Kosygin in Moscow; the two leaders may sign a economic treaty. [CBS]
- President Nixon is seeking laws against oceanic pollution. The Coast Guard would enforce the proposed legislation prohibiting dumping without a federal permit or dumping harmful materials, and would impose fines of up to $50,000. The dumping of explosives or poison gas would be prohibited by the new plan. [CBS]
- The Federal Highway Safety Board proposed stiff laws against chronic drunken drivers. [CBS]
- President Nixon appointed Dr. Elburt Osborn as director of the U.S. Bureau of Mines. [CBS]
- The House passed President Nixon's anti-crime bill aimed at organized crime and campus bombers; it gives judges the right to give professional criminals an extra 25-year sentence and suspend the right to evidence and trial by jury. [CBS]
- French-Canadian secessionists extended their deadline for demands to be met before they kill British diplomat James Cross; Cross' letter urged the government pay $500,000 ransom, free political prisoners and grant the kidnappers free passage out of the country. [CBS]
- Ricardo Morton was arrested trying to board a Los Angeles flight with a 13-inch knife and a sawed-off shotgun; a metal detector found the knife. [CBS]
- The International Pilots Association wants the right to boycott airports that don't meet anti-hijack standards; pilots also want bulletproof doors on cockpits. [CBS]
- The FAA stated that the J. Richards Aircraft Company plane that crashed in Colorado didn't have a permit to carry passengers; company owner Jack Richards says that his company's planes are certified and in good shape. [CBS]
- President Nixon signed the $5.2 billion public works bill but said there is too much pork in the barrel. [CBS]
- The President will rest in Florida over the weekend. [CBS]
- United Auto Workers president Leonard Woodcock reported that negotiations with General Motors will resume on Friday; the strike is 23 days old. [CBS]
- U.S. Communist Party leader Gus Hall says he was glad about winning $500 in the New York state lottery, but that doesn't make him a capitalist. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 783.68 (+1.23, +0.16%)
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* |
| October 6, 1970 | 782.45 | 86.85 | 20.24 |
| October 5, 1970 | 776.70 | 86.47 | 19.76 |
| October 2, 1970 | 766.16 | 85.16 | 15.42 |
| October 1, 1970 | 760.68 | 84.32 | 9.70 |
| September 30, 1970 | 760.68 | 84.21 | 14.83 |
| September 29, 1970 | 760.88 | 84.30 | 17.88 |
| September 28, 1970 | 758.97 | 83.86 | 14.39 |
| September 25, 1970 | 761.77 | 83.97 | 20.47 |
| September 24, 1970 | 759.31 | 83.91 | 21.34 |
| September 23, 1970 | 754.38 | 82.83 | 16.94 |