News stories from Wednesday March 10, 1971

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

Capt. Ernest Medina testified at Lt. William Calley's trial. Medina contradicted Calley's testimony about killing civilians at My Lai and testified about his own involvement in the incident. Medina and Calley disagree on every major point concerning the events at My Lai. [CBS] North Vietnamese attacks drove Laotian forces from the Ho Chi Minh Trail 80 miles south of Tchepone. [CBS] Red China and North Vietnam announced that Chinese troops will help North Vietnam if the U.S. continues expanding the war. The State Department assured China that the U.S. is not planning any moves to endanger those countries. [CBS] The Senate approved a constitutional amendment to allow 18-year-olds to vote in all elections; the House is expected to approve it next week. The amendment then goes to the states for approval. [CBS] A measure will be added to a bill to increase social security benefits 10% before the end of the month. [CBS] President Nixon asked Congress for $1.1 billion for rural development as part of his revenue sharing plan. [CBS] Senator Ernest Hollings introduced a resolution forcing the Nixon administration to make public a survey which claims that 15 million Americans are victims of hunger. [CBS] Three British soldiers were found dead in a ditch outside Belfast, Northern Ireland. [CBS] One hundred Soviet Jews began a sit-in at the Soviet parliament building in Moscow, demanding permission to emigrate to Israel. Police forced the protesters to leave after the building closed for the day. [CBS] Indian Prime Minister Gandhi won re-election to Parliament and her party appeared to have won a landslide victory. Election violence continued; five rioters were killed by the army. [CBS] Dr. James Fletcher was approved as the new head of NASA. Fletcher said that his reported opposition to President Nixon's anti-ballistic missile system is false -- he stated that he is not informed about the ABM, he supports the President's position and has no idea how the anti-ballistic missile reports started.The White House denied that there were conversations with Fletcher about the ABM, but a reporter at a press luncheon said that Fletcher admitted meeting with Nixon and expressing his misgivings about the anti-ballistic missile. [CBS] 150 Congressmen registered their opposition to Japan's plan to voluntarily limit textile exports to the United States. [CBS] Dr. William Haddon testified to Congress that new American cars are flimsier than they were a year ago, and he accused manufacturers of ignoring techniques for making cars more damage-proof. [CBS] A Senate committee heard testimony for and against approving money for SST development. Transportation Secretary Volpe noted that the Soviet Union is trumpeting its own supersonic transport, and the Soviets are determined to become the world's supplier. Arthur Godfrey, celebrity spokesman for the Coalition Against the SST, said that he doesn't care what the Soviets do first. [CBS] A government panel warned against the use of amphetamines on normal inattentive, restive children, but they endorsed drug use for the 3 out of 100 children who have specific nervous behavior disturbances. [CBS] A operation to remove a brain tumor was performed on Delores Johnson; the tumor caused her to grow to 8' 2" and 431 pounds. [CBS] President Nixon's foreign and military policies are drawing attention. Nixon and Defense Secretary Laird say that U.S. foreign policy is a middle path between world policeman and isolationism. The military policy is called "realistic deterrence", meaning more U.S. air power and getting other countries to do more. It is ironic that Richard Nixon, who has been a hawk on Vietnam since as far back as 1954, is now getting the U.S. out of Vietnam. [CBS]

Stock Market Report

Dow Jones Industrial Average: 895.88 (-3.22, -0.36%)
S&P Composite: 99.30 (-0.16, -0.16%)
Arms Index: 0.82

	Issues	Volume*
Advances	628	7.85
Declines	775	7.90
Unchanged	252	1.47
Total Volume		17.22

* 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*
March 9, 1971	899.10	99.46	20.49
March 8, 1971	898.62	99.38	19.34
March 5, 1971	898.00	98.96	22.43
March 4, 1971	891.36	97.92	17.35
March 3, 1971	882.39	96.95	14.68
March 2, 1971	883.01	96.98	14.87
March 1, 1971	882.53	97.00	13.02
February 26, 1971	878.83	96.75	17.25
February 25, 1971	881.98	96.92	16.20
February 24, 1971	875.62	96.73	15.93