News stories from Monday January 3, 1972
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon's name was entered in the New Hampshire primary by former governor Lane Dwinell. Other Republican contenders in New Hampshire include representatives John Ashbrook and Pete McCloskey. Democratic candidates now include Senator Vance Hartke. Announcements are expected from Senators Edmund Muskie and Hubert Humphrey. Muskie is the first to enter the Illinois primary. [CBS]
- North Vietnamese delegates to the Paris Peace Talks denounced U.S. air strikes over North Vietnam and called for a negotiated settlement. [CBS]
- President Nixon predicted that Democrats would request equal time after his speech. They did, as did Rep. McCloskey. [CBS]
- The election of Sheik Mujibur Rahman as Premier of East Pakistan led to the India-Pakistan war; Pakistani Premier Ali Bhutto released Sheik Mujibur from jail today. Bengali refugees have begun their return home from India via train. [CBS]
- A bomb exploded in front of a Belfast department store during after-Christmas shopping, injuring 60. [CBS]
- Six Volkswagen plants in West Germany have been temporarily shut down due to the devaluation of the U.S. dollar. [CBS]
- Japan agreed to limit exports of wool and man-made textiles to the U.S. for three years. [CBS]
- Communist forces launched attacks on bases in Long Cheng (Laos) and on rubber plantations in Cambodia. Americans are flying supplies daily into Long Cheng, which is run by the CIA. Former Indiana farmer Edgar Buell, who encouraged American intervention in Laos, is now the senior U.S. official in that country. U.S. air raids over North Vietnam were, in part, support for activity in Laos. The Pentagon reported that the mission partially failed due to bad weather. [CBS]
- The administration reported that the number of ineligible persons who are on welfare is twice the expected number, but it believes that the problem is due to "inefficiency" rather than cheating. Congress passed the welfare reform bill, emphasizing jobs for the poor, but the National Welfare Rights Organization says that the new legislation will be ineffective because no jobs are available and the government is not prepared to provide the necessary jobs. [CBS]
- Three federal judges ordered the Alabama state legislature to be reapportioned, a move designed to result in more Negroes being elected. [CBS]
- In Midland, Michigan, gasoline was accidentally pumped into the city sewer system instead of a gas station tank. Fires resulted and 2,000 persons had to be evacuated. [CBS]
- William Tolbert, Jr. was inaugurated as president of Liberia in Monrovia. Mrs. Pat Nixon attended the inauguration as the official U.S. representative. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 889.30 (-0.90, -0.10%)
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 31, 1971 | 890.20 | 102.09 | 14.04 |
| December 30, 1971 | 889.07 | 101.78 | 13.81 |
| December 29, 1971 | 893.66 | 102.21 | 17.15 |
| December 28, 1971 | 889.98 | 101.95 | 15.09 |
| 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 |