News stories from Monday August 9, 1971

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

At least nine persons are dead in fighting between Protestants and Catholics in Northern Ireland following Prime Minister Brian Faulkner's order to jail terrorists without trial. In Belfast, buildings were burned and British soldiers battled Catholic mobs; a block of Protestant homes was set afire by the residents themselves after the IRA reportedly warned them to leave within 24 hours.British troops are using a new weapon against rioters. Soldiers in Northern Ireland are using guns which fire rubber bullets; the bullets cause bruises but have yet to result in any deaths. Catholic youths told of being hit by rubber bullets and said that the bullets are worse than tear gas. [CBS] The East Pakistan border town of Comilla was reportedly fired on by India; 12 civilians were killed in the shelling. Pakistan President Yahya Khan said that Pakistan is close to war with India because of India's statements and actions. India has signed a 20-year cooperation pact with the Soviet Union.Secretary of State William Rogers met with United Nations Secretary General U Thant concerning the India-Pakistan situation and the East Pakistani refugee problem. [CBS] Israeli forces battled Arab guerrillas in Lebanon. [CBS] The export of $160 million worth of machine tools from the U.S. to Russia has been approved as part of a deal to build the world's largest Mack truck factory there. [CBS] Speculators are selling millions of U.S. dollars on European money markets in reaction to a rumor that the U.S. dollar may be devalued. [CBS] A federal court ruled that a New York law barring welfare aid to those who have not lived in the state for at least one year is unconstitutional. [CBS] Rep. Pete McCloskey has opened his presidential campaign headquarters in Concord, New Hampshire. McCloskey was greeted by New Hampshire Governor Walter Peterson and former Nixon campaign manager Stuart Lampert. Peterson says that he views McCloskey's challenge to President Nixon as "healthy". [CBS] Reverend Philip Berrigan was placed in solitary confinement in the Danbury, Connecticut, prison following a hunger and work strike which he organized in support of political prisoners. [CBS] NASA officials reported that the Apollo 15 astronauts lost muscle strength in space after prolonged weightlessness. [CBS] The Coast Guard recaptured a yacht which had been hijacked by three gunmen in Honolulu. [CBS] President Nixon signed the $250 million Lockheed Aircraft Corporation loan bill and greeted 16 teenage cross-country bicyclists. The cyclists pedaled from Seattle to Washington, DC in 59 days. The President told them that he gave up a bicycle exerciser after three days because it was too boring. President Nixon was last seen on a bicycle in 1948. [CBS]

Stock Market Report

Dow Jones Industrial Average: 842.65 (-7.96, -0.94%)
S&P Composite: 93.53 (-0.72, -0.76%)
Arms Index: 1.32

	Issues	Volume*
Advances	373	1.62
Declines	963	5.54
Unchanged	305	0.96
Total Volume		8.12

* 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*
August 6, 1971	850.61	94.25	9.49
August 5, 1971	849.45	94.09	12.10
August 4, 1971	844.92	93.89	15.41
August 3, 1971	850.03	94.51	12.49
August 2, 1971	864.92	95.96	11.87
July 30, 1971	858.43	95.58	12.97
July 29, 1971	861.42	96.03	14.57
July 28, 1971	872.01	97.07	13.94
July 27, 1971	880.70	97.78	11.56
July 26, 1971	888.87	98.67	9.93