News stories from Tuesday August 12, 1980

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

Edward Kennedy called for unity among Democrats, exhorting them to "keep the faith" with their traditional principles, and made a rousing attack on the Republicans. One day after the Senator lost his bid for the presidential nomination, he told the Democratic National Convention, "I can congratulate President Carter on his victory here." [New York Times] Senator Kennedy scored a triumph as the delegates cheered the bite, the humor and the rallying power of his speech. He blistered the Republicans and he captured the crowd, reaching well into the Carter camp, with his calls for unity. The delegates roared, applauded and laughed, and one of them bellowed, "1984!" [New York Times] The President's wishes were rebuffed as the delegates shouted into the Democratic platform Senator Kennedy's proposals for a $12 billion jobs program and a ban on any action that would markedly increase unemployment. Earlier, the convention voted to cut off aid to any candidate who does not support the proposed equal rights amendment to the Constitution. [New York Times] The issue of safety at rock concerts has generated a major controversy since last Dec. 3, when 11 young people died while rushing to claim seats at a concert in Cincinnati. Since then, municipal authorities and legislators have begun to investigate the operations of rock promoters, and stringent concert safety legislation is being considered in New York and other states. [New York Times] A curb on the preservation of sites deemed historic was apparently approved by a federal judge in Virginia, prompting government lawyers to consider an appeal. The judge reversed the designation of 14,000 acres in central Virginia as a "national historic district." It was the government's first use of historic preseration laws to protect a large rural region. [New York Times] The birth of the first giant panda conceived in captivity outside China occurred in a Mexico City zoo. A veterinarian who has cared for the parents since they arrived from China in 1975 attributed the achievement to the city's high altitude, a special diet and a decision not to keep them in separate areas. Experts believe there are now fewer than 300 pandas in the world. [New York Times] The need for a new nuclear war plan emerged gradually during the three and a half years of the Carter administration. In this transformation of United States military strategy, Defense Secretary Harold Brown and Zbigniew Brzezinski, President Carter's national security adviser, were the prime movers and close intellectual companions. [New York Times] Washington is pressing Seoul to set a timetable for political liberalization and to show leniency toward domestic political opponents of South Korea's military rulers, according to United States officials. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 952.39 (-11.69, -1.21%)
S&P Composite: 123.79 (-0.99, -0.79%)
Arms Index: 1.27

	Issues	Volume*
Advances	563	14.33
Declines	972	31.52
Unchanged	382	6.20
Total Volume		52.05

* 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 11, 1980	964.08	124.78	44.69
August 8, 1980	954.69	123.51	58.86
August 7, 1980	950.94	123.30	62.37
August 6, 1980	938.23	121.55	45.02
August 5, 1980	929.78	120.74	45.51
August 4, 1980	931.06	120.98	41.57
August 1, 1980	931.48	121.21	46.43
July 31, 1980	935.32	121.67	54.60
July 30, 1980	936.18	122.23	58.06
July 29, 1980	931.91	122.40	44.84