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Friday August 6, 1971
. . . where the 1970s live forever!

News stories from Friday August 6, 1971


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

  • The unemployment rate went up 0.2% to 5.8% for July. White House press secretary Ron Ziegler stated that the administration is encouraged by the figure because many experts predicted 6.0% unemployment; Ziegler called last month's figure a "statistical quirk". The 5.8% rate translates into 5.3 million people being unemployed last month. [CBS]
  • The Senate passed a $1 billion public service jobs bill that will finance up to 173,000 jobs. [CBS]
  • Two enemy land mines killed five soldiers and 20 civilians in South Vietnam. An American jet was shot down over Laos, killing the pilot. A U.S. helicopter was shot down in the Mekong Delta region of Cambodia. [CBS]
  • The South Vietnamese presidential election may be a politically embarrassing one-man show. The South Vietnam Supreme Court has disqualified Vice President Nguyen Cao Ky as a candidate, leaving only President Nguyen Van Thieu and General Duong Van Minh. Minh spokesman Ton That Thien said that if Thieu gets away with political manipulations, Minh won't want to run just to add an aura of legitimacy to the election. Thieu's spokesman predicted victory over Minh and ruled out the possibility of a coup d'etat by Ky. [CBS]
  • President Nixon visited New Hampshire, where the Manchester Union Leader has withdrawn its support of the President due to his planned China trip. Speaking in Nashua, the President announced a nursing home reform program. [CBS]
  • Vice President Spiro Agnew said that doesn't object to President Nixon's trip to China, but he is concerned about public overconfidence in the outcome. [CBS]
  • Apollo 15 astronauts held a news conference in outer space. Astronaut David Scott said that the most impressive moment to him was standing on Hadley Mountain looking back at the plain. Astronaut Alfred Worden said that the most exciting moments of the flight were his first look at the moon and the successful burn to begin the return to earth. Astronaut James Irwin said that liftoff was his biggest thrill.

    Spacecraft splashdown will be tomorrow. [CBS]

  • U.S. and Soviet space officials concluded meetings in Moscow and came up with recommendations for joint projects. [CBS]
  • Apollo 11 astronaut Neil Armstrong encountered a washout at the 13th World Boy Scout Jamboree in Japan. The jamboree, which was being held at the foot of Mt. Fuji, was hit by a typhoon. The campsite has been ordered evacuated until Monday. [CBS]
  • The President's Council on Environmental Quality issued its second annual report, which recommends that $43 billion be spent on solid waste clean-up, $38 billion on water pollution, and $24 billion on air pollution in the next six years. The report also recommends that polluters be charged and regulated, and it opposes tax credits and subsidies as incentives.

    President Nixon is concerned about those who want to achieve ecological perfection at the cost of bankrupting taxpaying enterprises. [CBS]

  • A Florida company claims to have perfected an air bag as a safety feature for car passengers; it demonstrated a collision at 30 mph using human drivers. The company is developing air bags for cars that are already on the road, not just new cars; installing the air bag only involves fastening it to the steering wheel. [CBS]
  • Frank Shorter won the 10,000-meter run and the marathon at the Pan American games in Colombia, despite being afflicted with "Montezuma's Revenge". [CBS]


Stock Market Report

Dow Jones Industrial Average: 850.61 (+1.16, +0.14%)
S&P Composite: 94.25 (+0.16, +0.17%)
Arms Index: 1.03

IssuesVolume*
Advances7404.59
Declines5383.45
Unchanged3351.46
Total Volume9.50
* 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
DateDJIAS&PVolume*
August 5, 1971849.4594.0912.10
August 4, 1971844.9293.8915.41
August 3, 1971850.0394.5112.49
August 2, 1971864.9295.9611.87
July 30, 1971858.4395.5812.97
July 29, 1971861.4296.0314.57
July 28, 1971872.0197.0713.94
July 27, 1971880.7097.7811.56
July 26, 1971888.8798.679.93
July 23, 1971887.7898.9412.37


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