News stories from Tuesday July 11, 1978
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A baby resulting from test-tube unification of egg and sperm will be born to a British woman in two or three weeks, a London gynecologist said. It would be the world's first such live birth, according to medical experts. [New York Times]
- Former President Ford, to increase his influence in this year's elections, has converted his 1976 campaign committee into a political action committee so he can give leftover campaign funds to Republican candidates. The remaining funds total $220,000, according to Robert Barrett, chairman of the new committee. [New York Times]
- The executor of Hubert Humphrey's estate said reports that the late Senator had left trusts for his family valued at "well in excess of $1 million" were exaggerated, and he denied that the trusts had included gifts from Dwayne Andreas, a close friend of Mr. Humphrey. The executor, Joe Walters, said that blind trusts established by Mr. Humphrey and his wife in 1964 had "not changed appreciably" in the last two years. [New York Times]
- At least 180 people died in Spain when a truck carrying industrial gas exploded in a Mediterranean coastal campsite, engulfing hundreds of campers in flames. An estimated 300 other persons were injured. The driver apparently had lost control of the vehicle, which is believed to have overturned while taking a bend in a road and rolled onto the campsite. [New York Times]
- Secretary of State Cyrus Vance and Foreign Minister Andrei Gromyko pledged to work toward overcoming the remaining obstacles in the strategic arms limitation negotiations. They arrived for meetings in Geneva in an atmosphere of uncertainty, however, caused by strained relations over the trials of dissidents in Moscow. Reporters were told that Mr. Vance intended to discuss the prosecution of Anatoly Sharansky and Aleksandr Ginzburg with Mr. Gromyko, to deliver a message for Leonid Brezhnev from President Carter and to meet with the wife of Mr. Sharansky.
The wife of Aleksandr Ginzburg, Soviet dissident, was ejected from his trial after she had clashed with a prosecution witness. Meanwhile, relatives of another dissident, Anatoly Sharansky, who is being tried on a treason charge, were barred from the courtroom as the proceedings went into secret session.
[New York Times] - China ended aid to Albania, once its closest ally but now one of its strongest critics, diplomatic sources said. The Chinese government reportedly announced the cut in all economic and technical assistance in a note to Albania last Friday. Aid to that country was said to have been second only to that given Vietnam, aid that China ended on July 3. [New York Times]
- Criminal cases against Indira Gandhi, the former Prime Minister of India, her son Sanjay and other aides were instituted by the government in New Delhi, charging them with violating various laws during her authoritarian rule. This initiated a long judicial process that could lead to conviction and imprisonment. However, none of the accused were arrested. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 821.29 (+4.50, +0.55%)
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 10, 1978 | 816.79 | 95.27 | 22.47 |
| July 7, 1978 | 812.46 | 94.89 | 23.49 |
| July 6, 1978 | 807.17 | 94.32 | 24.99 |
| July 5, 1978 | 805.79 | 94.27 | 23.74 |
| July 3, 1978 | 812.89 | 95.09 | 11.57 |
| June 30, 1978 | 818.95 | 95.53 | 18.11 |
| June 29, 1978 | 821.64 | 95.57 | 21.66 |
| June 28, 1978 | 819.91 | 95.40 | 23.27 |
| June 27, 1978 | 817.31 | 94.98 | 29.28 |
| June 26, 1978 | 812.28 | 94.60 | 29.25 |