News stories from Thursday October 8, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Communists denounced President Nixon's Vietnam peace plan as way to perpetuate U.S. aggression; North Vietnam negotiator Xuan Thuy said that Nixon is trying to sway public opinion.
The President said that the world is pleased with his plan and he hopes that Congress will unite to endorse the proposal. The U.S. urged the Soviet Union to persuade North Vietnam to accept the proposal.
[CBS] - There are reports that North Koreans have joined the Communists who are fighting in Cambodia, but no details. [CBS]
- A United Arab Republic national plebiscite will elect Anwar Sadat president next week. Sadat said that he'll follow Nasser's path, neither pro-West nor pro-East. [CBS]
- French-Canadian separatists reduced their demands for the release of British diplomat James Cross. [CBS]
- Soviet novelist Alexander Solzhenitsyn received the Nobel Prize for Literature; his books are banned in the Soviet Union. [CBS]
- A University of Buffalo undercover police agent testified to the Senate that classes in violent revolution at the school teach the construction of Molotov cocktails and Claymore mines. [CBS]
- The Senate Finance Committee rejected President Nixon's welfare reform bill. [CBS]
- A Congressional committee said that the auto industry must have engines which are 90% cleaner by January 1, 1975. [CBS]
- Former Vice President Hubert Humphrey rented a Lincoln for $740 per year; auto companies are now ending preferential rental practices. [CBS]
- The FAA fined the Jack Richards Aircraft Company $50,000 and grounded all 16 company planes pending inspection; they found 16 safety violations on one plane that landed safely. The FAA also revoked the license of the company which provided a crew for the plane that crashed in Colorado. [CBS]
- Three bombs hit the West coast. In Seattle, the University of Washington ROTC building was hit, causing $150,000 damage. The county courthouse in San Rafael, California was bombed, as was a National Guard armory in Santa Barbara.
The Senate has passed a bomb control bill which authorizes federal wiretaps in bombing cases and makes bombing a university which receives federal aid a federal crime so the FBI can act.
[CBS] - Left-wing general Juan Jose Torres still holds power in Bolivia but a right-wing general has vowed to renew fighting. [CBS]
- United Arab Republic Foreign Minister Mahmoud Riad will urge the U.N. General Assembly to condemn Israel's actions. [CBS]
- Presidential economic adviser Paul McCracken said that the government is progressing in stabilizing the U.S. economy. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 777.04 (-6.64, -0.85%)
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 7, 1970 | 783.68 | 86.89 | 15.61 |
| 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 |