News stories from Wednesday February 3, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The news embargo on the Laos situation may be lifted within 24 hours. Sources indicate that no attack into Laos has yet been made. President Nixon is reportedly anxious to release information to the public, but General Abrams and the South Vietnam government insist on waiting. The U.S. continued bombing in Laos, but the Pentagon says that there has been no South Vietnamese invasion of Laos although allied troops have massed at the Laotian border.
The end of the news embargo is up to General Abrams. Foreign newspapers, unaffected by the embargo, are full of stories on the situation in Laos. U.S. Senators have been unable to get assurances that South Vietnam's attack into Laos hasn't begun, and they are unhappy with the news embargo. Some sources are reporting that South Vietnam has in fact launched its attack into Laos.
[CBS] - South Vietnam reported that its troops were driving into Cambodia against enemy sanctuaries. [CBS]
- North Vietnam attacked Luang Prabang and the Plain of Jarres in Laos. [CBS]
- Antiwar demonstrations are planned for Washington and San Francisco to take place on April 24. [CBS]
- Apollo 14 is scheduled to enter lunar orbit soon. A battery in the lunar module has a low voltage reading but the moon landing will proceed unless it worsens. [CBS]
- An explosion in a chemical plant in Woodbine, Georgia, killed at least 25 and injured 100. A gas explosion killed seven and injured 11 in Lambertville, New Jersey. Two persons are reported missing. [CBS]
- The Middle East cease-fire deadline is Friday. Egypt will announce its decision on extending the cease-fire tomorrow. [CBS]
- Persian Gulf oil-producing countries are demanding a price increase from $1.00 per barrel to $1.25 per barrel and are threatening to pass laws to put those increases into effect. The Persian Gulf nations are negotiating with over 20 international oil companies. The oil-producing nations hold the upper hand due to high demand and are hoping to gain control of the entire oil industry. [CBS]
- President Nixon asked Congress for legislation to deal with transportation strikes. [CBS]
- Rolls Royce stock dropped $12 million on the London stock market. The British cabinet is considering subsidizing Rolls Royce to keep it in operation. [CBS]
- The Soviet Union claims that national income in the USSR increased 8.5% in 1970. [CBS]
- The Democrat caucus in the House rejected reforms to limit the age or length of service of committee chairmen. Attempts to unseat the chairman of the District of Columbia Committee, Rep. John McMillan, failed. A Senate filibuster to prevent a vote to lower the majority needed to end filibusters continues. [CBS]
- The police chief of Beverly Hills police chief has been fired again. Joe Kimble was hired two years ago, but was fired last March for his too-liberal method of working with youth. He was rehired a short time later, but now has been terminated again. Mayor J.M. Stuchen stated that he would rather see criminals be afraid to come to Beverly Hills instead of seeing bank robberies and burglaries. Crime has doubled in the last two years in Beverly Hills, but fewer arrests were made. [CBS]
- The Census Bureau reported that people aged 14-24 comprise 20% of the U.S. population. [CBS]
- A doctor who gave a peppermint-flavored marijuana extract to dying cancer patients reported that patients ate more, were less depressed, and didn't need as many pain-killing drugs during his experiment. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 876.23 (+1.64, +0.19%)
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* |
| February 2, 1971 | 874.59 | 96.43 | 22.03 |
| February 1, 1971 | 877.81 | 96.42 | 20.65 |
| January 29, 1971 | 868.50 | 95.88 | 20.96 |
| January 28, 1971 | 865.14 | 95.21 | 18.84 |
| January 27, 1971 | 860.83 | 94.89 | 20.64 |
| January 26, 1971 | 866.79 | 95.59 | 21.38 |
| January 25, 1971 | 865.62 | 95.28 | 19.05 |
| January 22, 1971 | 861.31 | 94.88 | 21.68 |
| January 21, 1971 | 854.74 | 94.19 | 19.06 |
| January 20, 1971 | 849.95 | 93.78 | 18.33 |