News stories from Wednesday October 28, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- General Motors reported $77 million in losses for the third quarter, and blamed the UAW strike. The wholesale price index was up 0.1%, and the federal government reported a $7.7 billion deficit in the first quarter of this fiscal year. [CBS]
- President Nixon wound up his southern campaign in Florida. Policeman Don Ledbetter broke his arm and leg in a motorcycle accident in the presidential motorcade; Nixon gave him a souvenir. Democrats are favored to win the Florida Senate and governor races.
Thirteen hecklers were arrested at one of the President's stops, and in Miami Beach 50 loud protestors yelled during Nixon's speech; protestors made up half the crowd. Nixon said that the hecklers won't be the leaders of the future, and he asked the Silent Majority to stand up.
[CBS] - Vice President Spiro Agnew campaigned in Georgia and Arizona and asked Democrats to leave their party to get away from radical-liberals. [CBS]
- At Fort Bragg, N.C., the Army cleared Capt. Jeffrey MacDonald of murdering his wife and two daughters. MacDonald was relieved by the news, and expects investigations to continue. [CBS]
- A Merritt Publishing Company poll showed that 1 in 10 leading high school students smoke marijuana. The Nixon administration says that marijuana is dangerous and it encourages the use of harder drugs. [CBS]
- 850,000 Pay Day, Big Time and Butternut candy bars have been recalled due to contamination by rodent hairs. [CBS]
- The government will install a permanent 2,000-man sky guard force to be trained by the Secret Service. [CBS]
- Lt. William Calley is in Vietnam to interview survivors of the My Lai massacre to aid his defense. [CBS]
- Typhoon Louise hit the South Vietnam coast; American planes evacuated. Only minor damage resulted from the storm. [CBS]
- Israeli Foreign Minister Abba Eban spoke to the United Nations General Assembly, saying that the balance of power in the Mideast must not shift. Sixteen non-aligned nations introduced a resolution calling for the unconditional Israeli withdrawal from occupied lands. Passage of that resolution would set negotiations far back. [CBS]
- A federal judge had ordered the House not to release an Internal Security Committee report on dangerous campus speakers, but the report was released two weeks ago and 68 subversive speakers were listed; the ACLU called the report a "blacklist." Federal judge Gerhard Gesell ruled that the report can't be mailed around the country but can be discussed on the House floor; the judge called for legislative restraint on suppressing free speech. Internal Security Committee chairman Richard Ichord will appeal the ruling. [CBS]
- The USSR refused a second meeting between U.S. diplomats and two American generals who are being held by the Soviets. [CBS]
- The British government will give NATO an aircraft carrier and will station men in Singapore while reducing military spending. [CBS]
- The Soviet Union is interested in building cooperation in space with the United States; they may make ships that can dock with U.S. ships. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 755.96 (+1.51, +0.20%)
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 27, 1970 | 754.45 | 83.12 | 9.68 |
| October 26, 1970 | 756.43 | 83.31 | 9.20 |
| October 23, 1970 | 759.38 | 83.77 | 10.27 |
| October 22, 1970 | 757.87 | 83.28 | 9.00 |
| October 21, 1970 | 759.65 | 83.66 | 11.33 |
| October 20, 1970 | 758.83 | 83.64 | 10.63 |
| October 19, 1970 | 756.50 | 83.15 | 9.89 |
| October 16, 1970 | 763.35 | 84.28 | 11.30 |
| October 15, 1970 | 767.87 | 84.65 | 11.25 |
| October 14, 1970 | 762.73 | 84.19 | 9.92 |