News stories from Monday May 19, 1980

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

A curfew in Miami was bolstered as Gov. Bob Graham ordered 2,500 more Florida National Guardsmen into the riot-stricken city. The death toll in the three days of racial disorder rose to 15, but the incidents of violence fell sharply. There were scattered outbreaks of gunfire and looting as thousands of Guardsmen and policemen enforced a second nighttime curfew. [New York Times] Mount St. Helens spewed more clouds of steam and ash into the air, but at a much lower rate than in Sunday's massive explosions. Washington state officials said that at least six people had died in trying to flee the eruption and that at least 29 people were missing. The dark clouds of ash and dust created major fallout in downwind areas as far as 500 miles away. [New York Times] Ronald Reagan and George Bush vied for traditionally Democratic votes in pledging to aid the auto industry and put more of its workers back on the job on the eve of the Republican presidential primary in Michigan. The test marks a key crossover primary because there is no party registration there, and no major Democrat is on the ballot. The Democrats chose their convention delegates in caucuses last month. [New York Times] Love Canal residents held a protest, locking two federal environmental officials in an office for nearly five hours to press their demands for an immediate evacuation of their polluted neighborhood in Niagara Falls, N.Y. The office is in one of 237 houses that were evacuated because highly toxic wastes had been dumped nearby. [New York Times] A sovereignty vote in Quebec is to be held Tuesday. Despite pressing appeals by Premier Rene Levesque to the solidarity of the French-speaking majority of the province, deep divisions make doubtful an affirmative response to his request for a mandate to negotiate sovereignty and a new association with the rest of Canada. [New York Times] No progress on the Afghan crisis was reported after five hours of talks in Warsaw between President Valery Giscard d'Estaing of France and Leonid Brezhnev, the Soviet leader. But the French leader said that some progress had been made for proposing a conference of the main countries concerned about the conflicts in Afghanistan, Iran and elsewhere.Moslem criticism of the superpowers and an equating of the Soviet intervention in Afghanistan with United States efforts to gain the release of the American hostages in Iran were increasingly evident at an Islamic foreign ministers' meeting in Pakistan. [New York Times] The U.S. sought to avoid further strains in the Western alliance by suppressing its irritation over the French-Soviet summit meeting in Warsaw and by reluctantly accepting the limited economic sanctions adopted against Iran by the Common Market. [New York Times] Stiffer Israeli tactics on the West Bank have been pressed in an effort to curb Arab violence against Jews. The Israeli army asserted that Israeli vehicles could no longer drive safely in certain parts of the occupied territory, and military leaders have sharply increased penalties for youths who bombard Israeli cars and buses with gasoline bombs and rocks. [New York Times] Conciliation in Nicaragua was indicated as the leftist leadership appointed two well-known moderates to the ruling five-member junta. The appointees are known to favor preservation of private businesss and holding early elections. [New York Times] Pension funds are aiding the Sun Belt in its soaring growth at the expense, some say, of the Northeast and Middle West. Billions of dollars in benefits and pension fund investments are flowing from the North and East, where the pensions were earned, to the South and West, where pensioners are spending and investing the money. [New York Times] A wide spectrum of Cuban refugees is braving the tortuous voyages to Florida. Some people have drowned, but those making the long, arduous odyssey exuberantly look forward to a new life. A 32-year-old accountant aboard one boat halfway across the Florida Straits was ill, pale and shivering, but he refused to concede that he was miserable, shouting defiantly, "I am going to liberty." [New York Times] A wider busing plan in Los Angeles was ordered by a California judge to be implemented this fall. The decision drew angry criticism from members of the board of education, who contended it was too sweeping, and from spokesmen for civil rights groups, who contended that it would leave thousands of poor children in segregated inner-city schools. Both sides said they would appeal the order. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 830.89 (+4.01, +0.48%)
S&P Composite: 107.67 (+0.32, +0.30%)
Arms Index: 0.92

	Issues	Volume*
Advances	751	14.12
Declines	720	12.41
Unchanged	409	4.44
Total Volume		30.97

* 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 16, 1980	826.88	107.35	31.71
May 15, 1980	822.53	106.99	40.91
May 14, 1980	819.62	106.85	40.84
May 13, 1980	816.89	106.30	35.45
May 12, 1980	805.20	104.78	28.21
May 9, 1980	805.80	104.72	30.28
May 8, 1980	815.19	106.13	39.29
May 7, 1980	821.25	107.18	42.59
May 6, 1980	816.04	106.25	40.16
May 5, 1980	816.30	106.38	34.08