News stories from Friday December 11, 1970

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

President Nixon warned that the U.S. may resume bombing in North Vietnam. The Senate Foreign Relations Committee fears that the move will escalate the war. Defense Secretary Melvin Laird stated that bombing is justified and that the North Vietnamese must free our POWs. [CBS] Sweden relayed information from North Vietnam to the United States regarding 203 American POWs. [CBS] Fighting was light in South Vietnam. The Army has charged Pvt. Matias Yzaguirre with negligent homicide for accidentally killing a South Vietnamese boy; the incident sparked riots. [CBS] The Cambodian government is doomed unless the Communist hold on supply routes is broken. Gasoline is being rationed in Phnom Penh. [CBS] The USSR canceled the Bolshoi Ballet's tour of the U.S. due to "Zionist provocation". The Soviets also threatened to cancel the cultural exchange program. [CBS] The federal government is suing U.S. Steel for discrimination. [CBS] A government study showed that black teachers in the South were fired or demoted because of their race. The Nixon administration has offered a $3.2 million training program for displaced blacks. [CBS] A House-Senate committee voted to allocate $210 million for the supersonic transport. Senator William Proxmire vowed a filibuster. [CBS] President Nixon appointed Rep. George Bush as ambassador to the United Nations. Bush lost the Senate race in Texas last month. [CBS] A gas leak in a New York City bar caused an explosion which injured nearly 50 people. [CBS] Capt. Jeffrey MacDonald is fighting for his honor. He was accused of killing of his wife and two daughters at Fort Bragg in February; the charges were finally dropped in October. MacDonald wants the Army to find the killers and clear his name. MacDonald noted that he spent $30,000 for his defense and served time in jail. He lost his family, now he wants justice. [CBS] Rep. Mendel Rivers' heart surgery was successful. [CBS] Israeli Defense Minister Moshe Dayan and President Nixon discussed Mideast peace in Washington. [CBS] Five German officials were on trial for 2½ years for making thalidomide, which caused birth defects; now the charges have been dropped. The company involved has set up a $27 million fund to aid deformed children. [CBS] The Soviet moon buggy resumed activity after a 14 day pause. [CBS]

Stock Market Report

Dow Jones Industrial Average: 825.92 (+4.86, +0.59%)
S&P Composite: 90.26 (+0.34, +0.38%)
Arms Index: 1.08

	Issues	Volume*
Advances	838	8.17
Declines	550	5.80
Unchanged	283	1.83
Total Volume		15.80

* 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*
December 10, 1970	821.06	89.92	14.61
December 9, 1970	815.24	89.54	13.55
December 8, 1970	815.10	89.47	14.37
December 7, 1970	818.66	89.94	15.53
December 4, 1970	816.06	89.46	15.98
December 3, 1970	808.53	88.90	20.48
December 2, 1970	802.64	88.48	17.96
December 1, 1970	794.29	87.47	20.17
November 30, 1970	794.09	87.20	17.70
November 27, 1970	781.35	85.93	10.13