News stories from Monday November 9, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The USSR announced that it will free two American generals and a major; their Turkish aide was freed today. [CBS]
- Kent State University president Robert White criticized the Ohio grand jury report. White said that the report is inaccurate and it disregarded evidence; he believes that the jurors didn't understand the concept of academic freedom. There has been no trouble at Kent State so far this fall except for frequent bomb scares. [CBS]
- The Supreme Court won't hear a Massachusetts suit to test the legality of the Vietnam war. The court will hear a case on capital punishment. [CBS]
- 368,000 Americans remain in Vietnam; 6,000 were withdrawn last week. [CBS]
- Communists hit Cambodian troops north of Phnom Penh, inflicting heavy casualties. [CBS]
- Palestinian leader Yasser Arafat accused U.S. Marines of aiding King Hussein in the Jordanian civil war. The Pentagon denied the charge. [CBS]
- The U.S. is optimistic about Mideast peace talks. Israel no longer demands that the United Arab Republic roll back missiles from the Suez Canal zone before talks resume. [CBS]
- The Apollo 14 rocket has been moved to the launch pad at Cape Kennedy. Launch is scheduled for January 31. [CBS]
- The UAW-General Motors negotiations are becoming intensive; both sides want a settlement by Tuesday. [CBS]
- A presidential emergency board recommended a 33% wage increase for railroad workers. [CBS]
- The Agriculture Department reported that food prices will be up 5.5% over 1969 by the end of the year. The department expects only a small increase next year. [CBS]
- A federal study shows that half of the women on welfare could work if not for bad health or having children. The study also backs the welfare reform bill. [CBS]
- Lake Erie has become a major man-made disaster. The cause is being sought, and a U.S.-Canadian team is studying the situation. There is no oxygen near the bottom of the lake. Phosphates from detergent may have killed the lake. The federal water quality administration reported that industries cooperate with pollution reduction more than cities do; cities must filter phosphates from their sewage. [CBS]
- If the UAW strike against General Motors is not settled by tomorrow, a settlement will likely not occur until next year. [CBS]
- The IRS suspended tax exemptions for consumer groups. The White House wants those exemptions kept. [CBS]
- Rep. William Dawson of Chicago died at age 84; he was the first black chairman of a House committee. [CBS]
- The Massachusetts Supreme Court overruled a law that would have reduced auto insurance premiums by 15%, but allowed the rest of the no-fault insurance law to stand. [CBS]
- A Japanese scientist reported that his country gave soldiers amphetamines in World War II to increase their fighting ability; it led to widespread drug abuse. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 777.66 (+5.69, +0.74%)
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* |
| November 6, 1970 | 771.97 | 84.22 | 9.97 |
| November 5, 1970 | 771.56 | 84.10 | 10.80 |
| November 4, 1970 | 770.81 | 84.39 | 12.18 |
| November 3, 1970 | 768.07 | 84.22 | 11.76 |
| November 2, 1970 | 758.01 | 83.51 | 9.47 |
| October 30, 1970 | 755.61 | 83.25 | 10.52 |
| October 29, 1970 | 753.56 | 83.36 | 10.44 |
| October 28, 1970 | 755.96 | 83.43 | 10.66 |
| October 27, 1970 | 754.45 | 83.12 | 9.68 |
| October 26, 1970 | 756.43 | 83.31 | 9.20 |