News stories from Tuesday November 24, 1970

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

Defense Secretary Melvin Laird defended the POW raid before the Senate Foreign Relations Committee. Laird said that the POWs' lives were in danger. Senator William Fulbright stated that the raid will hurt peace negotiations and that the raid failed due to faulty intelligence. Laird denied that the raid was a failure and said that intelligence was not at fault. President Nixon took responsibility for the raid, saying that it was worth the risk. The U.S. had no warning that the POW camp had been vacated. [CBS] The wives of POWs and former prisoners of war reacted to the raid. Some said that the raid will boost the POWs' morale, but others fear reprisals. [CBS] A plane-copter crash killed four Americans in South Vietnam. Communists are pushing a five-front Cambodian offensive. [CBS] The Selective Service announced that men can give up their draft deferments before December 31 and still count 1970 as a year of eligibility. [CBS] The Labor Department reported that the consumer price index is up 6% and net purchasing power is down 2% since last year. President Nixon maintains that his economic policies are working; an inflation alert may come this week. [CBS] Lobbyist Nathan Voloshen received a $10,000 fine and one-year suspended sentence for influence peddling in House Speaker John McCormack's office. Voloshen testified against others and implicated McCormack. [CBS] The House passed a job safety bill setting up a national safety board. Organized labor wants the Secretary of Labor to set safety standards. [CBS] The Senate Appropriations Committee approved $290 million for the SST. [CBS] Pope Paul will visit East Pakistan to express sympathy. Left-wing factions are charging that the government has mishandled the relief. American Ambassador Joseph Farland helped deliver food from a helicopter to starving peasants. More relief is needed; many flood victims are still isolated. [CBS] King Hussein of Jordan will visit Washington next month; President Nixon wants $330 million in aid for Jordan along with more aid to Israel. [CBS] The Coast Guard denied a Soviet sailor political asylum; the State Department won't comment. [CBS] Interior Secretary Walter Hickel banned the import to the U.S. of products from eight species of whales. [CBS] South Vietnam Vice President Nguyen Cao Ky met with President Nixon in Washington as police pushed protestors away from the area. Ky stated that all U.S. troops should be out of Vietnam by the end of 1971. Ky added that he doesn't think the failed POW raid hurt peace negotiations. [CBS]

Stock Market Report

Dow Jones Industrial Average: 772.73 (+5.21, +0.68%)
S&P Composite: 84.78 (+0.54, +0.64%)
Arms Index: 0.89

	Issues	Volume*
Advances	849	7.38
Declines	490	3.77
Unchanged	315	1.41
Total Volume		12.56

* 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
Date	DJIA	S&P	Volume*
November 23, 1970	767.52	84.24	12.72
November 20, 1970	761.57	83.72	10.92
November 19, 1970	755.82	82.91	9.28
November 18, 1970	754.24	82.79	9.85
November 17, 1970	760.47	83.34	9.45
November 16, 1970	760.13	83.24	9.16
November 13, 1970	759.79	83.37	11.89
November 12, 1970	768.00	84.15	12.52
November 11, 1970	779.50	85.03	13.52
November 10, 1970	777.38	84.79	12.03