News stories from Tuesday December 28, 1971

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

U.S. bombings in North Vietnam continued. Hanoi called the attacks "savage" and claimed that children and hospital patients were bombed. They also claim that a 6th U.S. plane was downed. North Vietnam is threatening to act against American POWs if the bombings continue. The raids are the most extensive since President Johnson halted such raids three years ago. They are now termed "protective reaction strikes" and the objective is to cripple the North's MiG fighter fleet.The Defense Department denied that it is renewing a bombing campaign in North Vietnam; bombing is expected to taper off this week. [CBS] Senator George McGovern condemned the bombing raids and asked other Democratic presidential hopefuls to take a similar stance. Senator Edmund Muskie criticized the bombing and advocated for a date for U.S. withdrawal from Vietnam. [CBS] The U.S. and North Vietnam both canceled this week's session of the Paris Peace Talks. Hanoi blames the bombings; the U.S. gave a variety of reasons. However, the peace talks are not being abandoned entirely. [CBS] Protestors at the Statue of Liberty obeyed a court order and vacated. Vietnam Veterans Against the War said that their goal of antiwar publicity was achieved. Another protest occurred at the Lincoln Memorial, where about 80 demonstrators were arrested. [CBS] New York City Mayor John Lindsay announced his presidential candidacy in Miami. Lindsay will skip the New Hampshire primary, conceding the state to Senator Muskie. Lindsay attacked the Nixon administration and said that the Wisconsin primary is next on his docket. The Lindsay campaign plans to make significant use of television commercials. [CBS] Senator Vance Hartke is flirting with joining the New Hampshire primary, bringing young people to the state to get campaign signatures; Hartke criticized John Lindsay. [CBS] Ex-Teamster president James Hoffa criticized President Nixon for freezing wages. [CBS] President Nixon and West German Chancellor Willy Brandt met at Key Biscayne, Florida. Their talks were relaxed, no large issues were discussed. Nixon's trip to Moscow is of more interest to West Germany than the Peking trip, particularly the handling of Soviet party chief Leonid Brezhnev. [CBS] India reported that Pakistan violated the truce; India returned fire and brought up reinforcements. [CBS]

Stock Market Report

Dow Jones Industrial Average: 889.98 (+8.51, +0.97%)
S&P Composite: 101.95 (+1.00, +0.99%)
Arms Index: 0.56

	Issues	Volume*
Advances	946	10.25
Declines	491	2.99
Unchanged	295	1.85
Total Volume		15.09

* 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*
December 27, 1971	881.47	100.95	11.89
December 23, 1971	881.17	100.74	16.00
December 22, 1971	884.86	101.18	18.93
December 21, 1971	888.32	101.80	20.46
December 20, 1971	885.01	101.55	23.81
December 17, 1971	873.80	100.26	18.27
December 16, 1971	871.39	99.74	21.07
December 15, 1971	863.76	98.54	16.89
December 14, 1971	855.14	97.67	16.07
December 13, 1971	858.79	97.97	17.02