News stories from Friday January 22, 1971

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

North Vietnam's attacks on Phnom Penh may force the U.S. into a deeper commitment to Cambodia. The State Department says that America is committed to the survival of the friendly anti-Communist regime in Cambodia. Yesterday's airport attack by the Communists was the most devastating of several coordinated attacks in different parts of the city; the entire Cambodian Air Force was almost wiped out.The South Vietnamese and Cambodians reopened Highway 4 and captured Pich Nil Pass, but the use of the highway as a supply route to Phnom Penh is threatened by ambushes. The operation's success was partially due to U.S. air support. [CBS] The Army dismissed charges against the four remaining soldiers who were accused in the My Lai incident. The action was taken partially because of two other recent acquittals. [CBS] President Nixon will give his State of the Union message and is expected to propose consolidating seven cabinet departments into four, a revenue sharing plan, welfare reform and federal aid to health programs. [CBS] Former President Harry S. Truman remains hospitalized but is listed in good condition. [CBS] A coalition of House Republicans and Southern Democrats voted to refuse to give Speaker Carl Albert the power to call bills out of committees for floor consideration. Republicans protested because of being deprived by Democrats of the right to one-third of House investigative funds. Senator Edward Kennedy was named to the Democrat Steering Committee. [CBS] A Northwest Orient airplane which took off from Milwaukee was hijacked to Cuba. [CBS] The cause of the deaths of 1,400 sheep in Utah has been found. Nerve gas or atomic testing in the region was suspected as the cause, however Utah Governor Calvin Rampton stated that tests have determined that the deaths were caused by sheep eating a noxious weed. [CBS] The cigarette industry denied that it is pushing for the legalization of marijuana, and it has no plans to sell the drug if it becomes legalized. [CBS] The Agriculture Department reported that 45% of the Florida orange crop was frozen by the recent cold spell. [CBS] Soviet cellist Mstislav Rostropovich has been barred from performing in foreign countries for six months because he publicly supported author Aleksandr Solzhenitsyn. [CBS] There is still no verdict in Charles Manson's murder trial. Security is tight at the courthouse because of threats of disruption. The jury's request to make a night visit to the murder scenes was denied, but their request to hear the Beatles' record "Helter Skelter" was allowed. During the trial, the prosecution maintained that the record inspired Manson to order the murders. The jury must decide 27 separate verdicts. [CBS] Several U.S. soldiers were killed and wounded in South Vietnam, and there was intense fighting in Cambodia. [CBS]

Stock Market Report

Dow Jones Industrial Average: 861.31 (+6.57, +0.77%)
S&P Composite: 94.88 (+0.69, +0.73%)
Arms Index: 0.92

	Issues	Volume*
Advances	899	12.69
Declines	502	6.54
Unchanged	292	2.45
Total Volume		21.68

* 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*
January 21, 1971	854.74	94.19	19.06
January 20, 1971	849.95	93.78	18.33
January 19, 1971	849.47	93.76	15.80
January 18, 1971	847.82	93.41	15.40
January 15, 1971	845.70	93.03	18.01
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