Friday November 6, 1970
. . . where the 1970s live forever!

News stories from Friday November 6, 1970


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

  • The Labor Department reported that the unemployment rate is now up to 5.7%. The Bureau of Labor Statistics and the White House blamed the UAW strike against General Motors for the increase. Unemployment was up 0.1% last month and the expected decrease in wholesale prices didn't materialize.

    The Nixon administration must improve its economic policies. Unemployment was 3.5% when Nixon took office; now he wants to loosen federal spending and ease loans. [CBS]

  • UAW leaders met and may reach a strike settlement with General Motors soon. [CBS]
  • The United Arab Republic and Israel said that they'll continue the cease-fire. In Israel, two bombs hit Tel Aviv; crowds attacked Arabs. Israeli troops are on alert but won't shoot unless the Arabs do. [CBS]
  • Former United Arab Republic President Gamal Abdel Nasser was honored in Cairo. Arabs ended their 40-day period of mourning for Nasser; leaders are considering their next move against Israel. Arabs feel that only the U.S. and USSR can impose peace on the Mideast. [CBS]
  • The Soviets may free the two American generals and a major whose plane made an emergency landing in the Soviet Union two weeks ago. The U.S. State Department expelled a Soviet reporter, forbids the sale of oil refining equipment to Poland, and snubbed a Bolshevik celebration; President Nixon is taking a hard-line approach to get the U.S. officers freed. [CBS]
  • The U.S. launched a satellite designed to warn Americans 30 minutes ahead of a Communist missile attack. [CBS]
  • Army Sgt. James Hobson was found innocent of trying to blow up a military training center in Germany, but was convicted of disobeying an order. [CBS]
  • Italy and China have established diplomatic relations. The Nationalist Chinese ambassador to Italy denounced recognition of Communist China, and the Taiwanese delegation left Italy. [CBS]
  • Ethiopian Emperor Haile Selassie is visiting Italy. [CBS]
  • Assistant Attorney General William Ruckelshaus was appointed to head the Environmental Protection Agency. [CBS]
  • Sailors rescued 14 crewmen from the ship "Caribbean Mist" which sank in a storm in the Atlantic; three or four men are still missing. [CBS]
  • Four men sailed from Ecuador to Australia on a raft made of balsa wood. They lived on rainwater and fish during the 7,000 mile trip. [CBS]
  • San Francisco cable cars are halted by a strike. Workers won't return until charges are dropped against three operators who were arrested for a scuffle last night. [CBS]
  • Detroit police are seeking a man who gave a boy Halloween candy with heroin in it; the boy died. [CBS]
  • Deposed Soviet Premier Nikita Khrushchev will publish his memoirs in Life magazine. [CBS]
  • Air India stewards and stewardesses started a scruffy strike for higher pay. The men won't shave and the women won't comb their hair or smile. [CBS]
  • The federal government is suing General Motors for not telling truck owners of defective wheels. The government is seeking a notification order and a $400,000 fine. [CBS]


Stock Market Report

Dow Jones Industrial Average: 771.97 (+0.41, +0.05%)
S&P Composite: 84.22 (+0.12, +0.14%)
Arms Index: 1.11

IssuesVolume*
Advances6374.16
Declines6274.54
Unchanged3301.27
Total Volume9.97
* 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*
November 5, 1970771.5684.1010.80
November 4, 1970770.8184.3912.18
November 3, 1970768.0784.2211.76
November 2, 1970758.0183.519.47
October 30, 1970755.6183.2510.52
October 29, 1970753.5683.3610.44
October 28, 1970755.9683.4310.66
October 27, 1970754.4583.129.68
October 26, 1970756.4383.319.20
October 23, 1970759.3883.7710.27


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