News stories from Thursday May 6, 1971

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

Secretary of State William Rogers arrived in Israel from Cairo. In Cairo, Rogers met with Egypt President Sadat for 2½ hours but no new proposals were made. In Israel, Rogers said the U.S. believes that more momentum is needed in the Mideast peace talks, and there may never be a better opportunity to reach an agreement. Egypt Foreign Minister Mahmoud Riad said that the meetings with Rogers were fruitful. [CBS] UPI reported that because of political and antiwar pressure, the White House is considering having only 6,000 U.S. soldiers remain in South Vietnam by the 1972 election, instead of 20,000. The White House denied the report. [CBS] South Vietnamese forces battled the enemy near Snoul, Cambodia. [CBS] At the Paris Peace Talks, U.S. negotiator David Bruce called North Vietnam's partial cease-fire proposal a sham; he proposed a total cease-fire and indicated a willingness to discuss U.S. withdrawal if North Vietnam will discuss a comparable withdrawal of their forces. [CBS] A funeral was held for former sergeant and Medal of Honor winner Dwight Johnson. Johnson was killed last week while attempting a robbery in Detroit. [CBS] Because of a budget squeeze, the Pentagon has cut back the production of nuclear-powered guided missile frigates from five to three. [CBS] West German Chancellor Willy Brandt announced that the Deutschmark will not be revalued upward despite inflationary pressure caused by U.S. dollars being traded for marks. [CBS] Amtrak agreed to establish railroad passenger service to Cleveland and Toledo, Ohio, for six months but said that Ohio must provide financial help. [CBS] EPA head William Ruckelshaus says that cars must stop polluting in the future, even at the expense of performance. Congress intends to control auto emissions, and future cars may be more expensive and not perform as well as a result. Spokesmen for several auto manufacturers said that they doubt their companies will be able to meet the 1975-1976 pollution standards. [CBS] The FDA warned the public not to eat swordfish due to the toxic levels of mercury in 95% of samples that were tested. [CBS] Federal agents and local police arrested 150 people in Michigan in an illegal gambling ring, including 16 Detroit policemen. [CBS] One thousand antiwar demonstrators remain in Washington, DC jails; some congressmen are criticizing the police, others criticize the protesters. Demonstrators tried but failed to shut down the John F. Kennedy Federal Building in Boston today. Three of the "Chicago 7" -- Abbie Hoffman, Rennie Davis and professor John Froines -- have been arrested in connection with the Washington demonstrations. [CBS]

Stock Market Report

Dow Jones Industrial Average: 937.39 (-2.53, -0.27%)
S&P Composite: 103.23 (-0.55, -0.53%)
Arms Index: 1.18

	Issues	Volume*
Advances	453	5.04
Declines	947	12.42
Unchanged	292	1.83
Total Volume		19.29

* 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*
May 5, 1971	939.92	103.78	17.27
May 4, 1971	938.45	103.79	17.31
May 3, 1971	932.41	103.29	16.12
April 30, 1971	941.75	103.95	17.49
April 29, 1971	948.15	104.63	20.34
April 28, 1971	950.82	104.77	24.82
April 27, 1971	947.09	104.39	21.25
April 26, 1971	944.00	103.94	18.86
April 23, 1971	947.79	104.05	20.15
April 22, 1971	940.63	103.56	19.27