News stories from Wednesday November 25, 1970

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

President Nixon fired Interior Secretary Walter Hickel, and Republican party chairman Rogers Morton is the nominee to succeed Hickel. The official reason for Hickel's dismissal was a "lack of mutual confidence". The White House said that Hickel was a poor administrator. [CBS] Part of the POW rescue team has returned home. Their families knew only that the men were on special training in Florida. The team included 102 soldiers from the Green Berets and 100 from the Air Force. President Nixon decorated the leaders of the raid. The Pentagon had predicted 50% casualties even if the raid was successful. [CBS] France and the Soviet Union denounced the American bombing raids in North Vietnam. The prisoners of war raid was a gamble; bombing will protect Americans as they leave Vietnam. The situation is tight in Cambodia, and a long war may still lie ahead. [CBS] Senator George McGovern said that the bombing raids in North Vietnam are dangerous. He will poll his colleagues on resubmitting a bill to cut funds for the war. [CBS] South Vietnam Vice President Nguyen Cao Ky met with Senate doves in Washington. Senator William Fulbright told Ky that foreign troops should leave Vietnam; Ky agreed. Ky had lunch with Secretary of State William Rogers and Defense Secretary Melvin Laird. [CBS] Sweden expelled U.S. Army deserter Joseph Parra and the Army arrested him when he arrived in New York City. Parra had been jailed in Sweden on a drug charge. [CBS] The Jordanian army hit the Palestinians hard; it was their third battle in the last 10 days. [CBS] Guinea claimed to have repulsed another Portuguese invasion; the United Nations is investigating the situation. [CBS] Japanese actor and novelist Yukio Mishima and four of his followers broke onto an army base, wounding eight officers and taking a general as a hostage. Mishima gave a speech calling for revolution, then stabbed himself in the stomach. A follower cut off Mishima's head, then killed himself; three other followers were arrested. [CBS] The government predicted that wholesale prices would be down 0.2% this month. Business indicators were up 0.8% last month; these are signs that the economy may be recovering. [CBS] The Department of Housing and Urban Development is cracking down on speculators and non-poor people who are using federal low-income mortgages. [CBS] East Pakistan President Yahya Khan toured the disaster area. Many Pakistanis are indifferent about the relief effort, and didn't help their own flood victims until foreign aid arrived. The country is overcrowded and is a permanent disaster area. [CBS] Soviet Premier Alexei Kosygin stated that the USSR will cooperate with the United States to fight cancer and other diseases. [CBS] A pipe bomb hit a Soviet airline office in New York City; American Jews claimed credit. There were no injuries. [CBS] The Air Line Pilots Association wants legislation allowing flight crews to carry concealed weapons. They also want air traffic to be suspended at airports without hijack prevention and to countries without extradition agreements. [CBS] The Atomic Energy Commission reported that Commissioner Theos Thompson was killed in a plane crash in Nevada while surveying Lake Mead today. [CBS] Science fiction writer David Threlbell made a bet six years ago that man would walk on the moon by 1971; he won $24,000 at 1,000 to 1 odds. Threlbell was killed in a car crash in Scotland today. [CBS]

Stock Market Report

Dow Jones Industrial Average: 774.71 (+1.98, +0.26%)
S&P Composite: 85.09 (+0.31, +0.37%)
Arms Index: 0.94

	Issues	Volume*
Advances	835	7.47
Declines	516	4.35
Unchanged	285	1.65
Total Volume		13.47

* 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*
November 24, 1970	772.73	84.78	12.56
November 23, 1970	767.52	84.24	12.72
November 20, 1970	761.57	83.72	10.92
November 19, 1970	755.82	82.91	9.28
November 18, 1970	754.24	82.79	9.85
November 17, 1970	760.47	83.34	9.45
November 16, 1970	760.13	83.24	9.16
November 13, 1970	759.79	83.37	11.89
November 12, 1970	768.00	84.15	12.52
November 11, 1970	779.50	85.03	13.52