News stories from Friday January 15, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Aswan Dam in Egypt was dedicated; Soviet President Podgorny was the guest of honor at the dedication. The USSR provided technical advice and one-third of the cost for the dam. Missile emplacements guard the dam against attack from Israel. [CBS]
- Lebanon protested to the U.N. the attack by Israel on Arab guerrilla bases in Lebanon. Israel claims that it blew up a complex of bases on the coast, while guerrillas claim that the attack was repulsed without major damage. [CBS]
- South Vietnamese and Cambodian forces met stiff resistance in their attempt to reopen Highway 4 in Cambodia. [CBS]
- Pentagon sources said that not one single U.S. combat unit, except those in Vietnam, are "combat-ready." [CBS]
- Senator Edmund Muskie met with Soviet Premier Kosygin at the Kremlin. Averell Harriman sat in on the meeting. [CBS]
- The Environmental Protection Agency proposed a ban on the interstate sale of DDT. [CBS]
- A federal judge granted an injunction against building a cross-Florida canal, although it is already one-third complete. The suit contends that the canal destroys the natural surroundings. [CBS]
- The Republican National Committee approved Senator Robert Dole as the new chairman of the GOP. [CBS]
- The $1.5 million Eisenhower National Republican Center was dedicated in Washington, DC. At the dedication, President Nixon said that the building and the party are open to all. Nixon is becoming noticeably more conciliatory in his recent appearances. [CBS]
- President Nixon issued a statement issued honoring Martin Luther King's birthday. [CBS]
- Former President Lyndon Johnson is reported in satisfactory condition in a San Antonio hospital where he is recovering from viral pneumonia. [CBS]
- Jury deliberations have begun in Charles Manson's murder trial in Los Angeles. [CBS]
- Two members of the Jewish Defense League were indicted by a federal grand jury on charges of using false names to buy rifles. [CBS]
- The state of New Jersey revoked the license of small, fundamentalist Shelton College. The college president called the move "persecution" and he intends to fight it in court. [CBS]
- The Carnegie Commission on Higher Education declared that the U.S. campus community is united against violence, with 79% of faculty members, 72% of graduate students and 62% of undergrads favoring the expulsion or suspension of students who disrupt college functions. [CBS]
- Strikes by public employees are illegal in New York state but New York City police are staging "job actions" because of their wage dispute. Mayor John Lindsay says that essential public safety elements are being maintained. No increase in crime has been reported. The city has obtained a restraining order against the police union. [CBS]
- Mayor Daley got the Chicago Teachers Union and the Board of Education to reach a tentative agreement in the teachers' strike. [CBS]
- Major banks lowered their prime interest rate from 6.5% to 6.25%. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 845.70 (+2.39, +0.28%)
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* |
| January 14, 1971 | 843.31 | 92.80 | 17.60 |
| January 13, 1971 | 841.11 | 92.56 | 19.07 |
| January 12, 1971 | 844.19 | 92.72 | 17.82 |
| January 11, 1971 | 837.21 | 91.98 | 14.72 |
| January 8, 1971 | 837.01 | 92.19 | 14.10 |
| January 7, 1971 | 837.83 | 92.38 | 16.46 |
| January 6, 1971 | 837.97 | 92.35 | 16.96 |
| January 5, 1971 | 835.77 | 91.80 | 12.60 |
| January 4, 1971 | 830.57 | 91.15 | 10.01 |
| December 31, 1970 | 838.92 | 92.15 | 13.39 |