News stories from Tuesday July 28, 1970

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

The Israeli government is debating the U.S.' Mideast peace proposal; their parliament questioned the cease-fire proposal.The United Arab Republic has banned Palestinian guerrilla broadcasts in Cairo. The commandos are protesting the acceptance of the peace plan by Jordan and the United Arab Republic. [CBS] Communists routed Cambodian troops at Kirirom. [CBS] The Army has dropped My Lai cover-up charges against Col. Robert Luper and Capt. Kenneth Boatman. [CBS] NASA head Thomas Paine resigned, and will return to General Electric. [CBS] Senator Stuart Symington called for a cutback of America's international commitments. [CBS] The Senate passed a $4.4 billion education bill but President Nixon may veto it even though the bill contains a strong anti-busing section. A joint Senate-House committee voted $17.5 billion for urban renewal and veterans' benefits. [CBS] Virginia Knauer, President Nixon's consumer affairs adviser, says that the pending foreign trade bill will hurt low-income consumers. [CBS] A riot rocked a rock concert in Chicago when the crowd attacked the stage and police. Police reinforcements chased rioters, who then vandalized a business district. Mayor Richard Daley said that he thinks the riot was planned. Subsequent rock concerts have been canceled. [CBS] Black leaders in Houston want the FBI to investigate Sunday's violence; they also called for an economic boycott and a civilian-police review board. [CBS] Heavy smog shrouded the East coast; in New York, Consolidated Edison cut power 5% due to a reserve shortage. [CBS] Star witness Linda Kasabian testified against Charles Manson in his Los Angeles murder trial. Kasabian described life in the Manson cult and group sex; she claims that the Beatles' song "Helter Skelter" calls for race war and she told how Manson planned the murders. [CBS] The Nixon administration reported a $2.9 billion budget deficit during the last fiscal year, blaming it on the economic slowdown. [CBS] The presidential yacht "Julie" is not for sale anymore; there were no serious offers. [CBS] Space scientists predict that passengers may visit space stations within seven or eight years. [CBS]

Stock Market Report

Dow Jones Industrial Average: 731.45 (+1.37, +0.19%)
S&P Composite: 77.77 (+0.12, +0.15%)
Arms Index: 0.74

	Issues	Volume*
Advances	671	4.75
Declines	564	2.95
Unchanged	311	1.35
Total Volume		9.05

* 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*
July 27, 1970	730.08	77.65	7.46
July 24, 1970	730.22	77.82	9.52
July 23, 1970	732.68	78.00	12.46
July 22, 1970	724.67	77.03	12.46
July 21, 1970	722.07	76.98	9.94
July 20, 1970	733.91	77.72	11.66
July 17, 1970	735.08	77.69	13.87
July 16, 1970	723.44	76.34	12.20
July 15, 1970	711.66	75.23	8.86
July 14, 1970	703.04	74.42	7.36