News stories from Friday February 5, 1971

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

Apollo 14 arrived on the moon despite computer difficulties which necessitated a manual landing. Astronauts Mitchell and Shepard walked on the moon and found the tasks more difficult than expected. A slight leak in Mitchell's space suit will not affect his moon walk tomorrow. [CBS] Dr. Charles A. Berry, the space agency's chief physician, said that the Apollo 14 astonauts used about 20 percent less body energy on the moon than earthbound doctors had predicted and were sleeping better than previous astronauts. [New York Times] The unemployment rate was reported at 6% for January. A Labor Department spokesman said that unemployment increased from December to January but decreased on a seasonally-adjusted basis. Most of the improvement was in the rate for adult males. [CBS] The administration's optimistic forecast for the economy this year was defended as "reasonable and attainable" by Paul McCracken, the chairman of President Nixon's Council of Economic Advisers. But some Democrats were skeptical. One called Mr. McCracken's estimate "political." [New York Times] The Nixon administration is proposing to lower the number of hours that the father of a family can work and still receive welfare. [CBS] The Massachusetts no-fault insurance law has been in effect for one month, resulting in a 50% decrease in personal injury claims since the new law took effect. [CBS] Despite bad weather in the area of allied operations in northern South Vietnam and Laos, the South Vietnam attack into Laos is impending. U.S. helicopters are ferrying South Vietnamese scouts into Laos. [CBS] South Vietnamese troops continued to drive into Cambodia. Highway 4 is still unsafe for moving supplies to Phnom Penh, so supplies are arriving by boats on the Mekong River. [CBS] The U.S. wants to begin "Big 4" talks to arrive at a guarantee to back the Middle East peace settlement. Israel is opposed to the idea. [CBS] Three Soviet ships including a submarine tender are heading for Cuba. [CBS] Charles Lindbergh says that further work on the supersonic transport would be a mistake. He called the SST unsound economically and environmentally. [CBS] A federal judge ordered the school board embracing part of Pine Bluff, Ark., to comply with a desegregation plan by noon Thursday or face jail. The judge held the board in "open defiance" of his desegregation order. The Nixon administration filed its first desegregation suits of the year against two Southern school districts. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 876.57 (+1.78, +0.20%)
S&P Composite: 96.93 (+0.31, +0.32%)
Arms Index: 0.83

	Issues	Volume*
Advances	856	11.95
Declines	540	6.24
Unchanged	273	2.31
Total Volume		20.50

* 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*
February 4, 1971	874.79	96.62	20.86
February 3, 1971	876.23	96.63	21.68
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