News stories from Thursday January 6, 1972

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

Senator Edmund Muskie officially entered the New Hampshire Democratic presidential primary, where he will try to capitalize on being from New England. [CBS] President Nixon will declare his candidacy for re-election in New Hampshire tomorrow via a letter to former Governor Lane Dwinell. Rep. John Ashbrook entered the New Hampshire primary as a Republican candidate. [CBS] FBI director J. Edgar Hoover reported that the 50% increase in convictions of organized crime cases was due to bugging and wiretapping. [CBS] California Governor Ronald Reagan announced plans to shut down San Quentin prison by 1974; racial trouble there has resulted in 11 deaths. George Jackson, Sirhan Sirhan and Charles Manson are currently imprisoned at San Quentin. [CBS] Moves are underway to strengthen the U.S. Naval presence in foreign waters. The power vacuum in the Indian Ocean, with the Soviets strengthening their fleet there, has been countered by orders to keep the U.S. aircraft carrier Enterprise and a task force in the Indian Ocean. Communications bases on the islands of Bahrain and Diego Garcia will be taken over from Britain by the United States. [CBS] The federal government requires a 90% pollution-free automobile by 1975. The National Academy of Sciences backs the auto industry's claims that the deadline is not feasible. [CBS] Six environmental groups said that the Atomic Energy Commission's duties to both promote and control the use of atomic energy causes a conflict of interest. The groups called for the atomic regulatory role to be given to the Environmental Protection Agency. [CBS] The FTC has reportedly recommended that antitrust suits be filed against Kellogg's and General Mills, to split those companies in order to create more competition in the breakfast cereal industry. [CBS] The Federal Communications Commission is considering broadening the "Fairness Doctrine". The FTC has urged the broadening to include free television air time for groups challenging corporate claims of making progress against pollution. [CBS] A rescue party has reached the site of the Peruvian airliner which crashed on Christmas eve. One passenger survived. [CBS] Senator Walter Mondale denounced President Nixon's decision for NASA to develop a "space shuttle" as an example of perverse priorities and waste; Congress is hesitant to fund the program. [CBS] President Nixon welcomed Japanese Prime Minister Sato to San Clemente, California, for talks preceding Nixon's trips to Moscow and Peking. [CBS] Mrs. Nixon took part in a tribal dance in Ghana. [CBS] The Paris Peace Talks resumed for the first time in a month. The Communists accused President Nixon of hypocrisy, denying that he ever proposed U.S. withdrawal in exchange for the release of U.S. POWs. Rep. Robert Leggett claims that a Viet Cong official told him that such a proposal would be accepted.A North Vietnamese film exhibited two American POWs: Col. David Hoffman and Lt. Norris Charles. POWs held by the Viet Cong in South Vietnam will now be allowed to receive mail from their families. [CBS] Communists are thought to be planning a major offensive in South Vietnam in order to embarrass President Nixon during his visit to China. American B-52s stepped up air attacks in Laos and the DMZ, and U.S. jets bombed a missile site in North Vietnam. Two U.S. pilots were shot down over Laos last week. [CBS]

Stock Market Report

Dow Jones Industrial Average: 908.49 (+4.06, +0.45%)
S&P Composite: 103.51 (+0.44, +0.43%)
Arms Index: 1.01

	Issues	Volume*
Advances	964	11.80
Declines	555	6.86
Unchanged	247	2.44
Total Volume		21.10

* 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*
January 5, 1972	904.43	103.07	21.35
January 4, 1972	892.23	102.09	15.19
January 3, 1972	889.30	101.67	12.57
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