News stories from Tuesday April 10, 1979

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

A terrorist bomb exploded in Tel Aviv, killing one person and injuring 36 as Passover Eve shoppers were teeming through an outdoor market. Six hours later, Israeli jets streaked across the Lebanese border and bombed two targets described by Israel's military command as training bases and staging areas for terrorist attacks against Israel. [New York Times] A blast in a nuclear reactor factory in France is undergoing a secret and urgent investigation. An experimental reactor was being completed for sale to Iraq, and officials speculate that the explosion may have been the work of an Israeli group. [New York Times] A trucking settlement was reached, tentatively ending a 10-day contract dispute that had shut down much of the nation's truck transport. The Teamsters union and the industry resolved all their economic differences, including a difficult problem involving a cost-of-living adjustment. [New York Times] Nuclear power cannot be abandoned in the foreseeable future, President Carter said. Earlier, the chairman of the Nuclear Regulatory Commission and the four other commissioners told a Senate subcommittee that there must be what the chairman called "a searching review and evaluation" of commission policies and procedures, possibly leading to overhaul and strengthening of safety rules.A prediction of the nuclear accident near Harrisburg, Pa., might have been made from the government's safety inspection file. The data reported trouble with stuck valves, non-functioning pumps, "personnel error" and crucial instruments that gave false readings. But each report states: "This event did not affect the health and safety of the public." [New York Times] At least 35 people were killed and more than 850 were injured when twisters rampaged across an area of Texas and Oklahoma known as "Tornado Alley." An undetermined number of people were reported trapped in the rubble while an estimated 700 were treated for injuries. [New York Times] President Carter disclaimed any knowledge of illegality involving his family's peanut warehouse. But, at a news conference, he declined to answer directly whether he knew that the terms of $7 million in loans from a bank once controlled by Bert Lance might not have been complied with. [New York Times] A Boston-Washington "war" over where Gilbert Stuart's famed portraits of George and Martha Washington will be displayed in the future will be waged in earnest in a Boston court next week. The impending $5 million sale by Boston's money-pinched Athenaeum to the Smithsonian Institution's National Portrait Gallery reflects the shifting regional and national dominances that have affected the art world for centuries. [New York Times] Gov. Jerry Brown was accused of interceding in a labor dispute on behalf of the only major union that has offered help in his planned bid for the presidency. The California Governor appointed three new members of the state horse racing board whose voting helped win a victory for the union at a Los Angeles race track. The charge of political intervention was made by the lawyer for the track. [New York Times] A balanced budget in 1981 would be achieved under a five-year fiscal plan for the federal government that was approved by the Senate Budget Committee. The plan would also reduce taxes substantially in 1982. The figures approved will have significant influence on 1980 spending. [New York Times] Perils of toxic waste at Niagara Falls, N.Y., were known by a chemical company 20 years before pregnant women and young children were removed from their homes by the authorities, according to documents made public by a House subcommittee. The company had dumped tons of toxic chemicals into the Love Canal area. [New York Times] Egyptians' perception of Israelis usually involves an unflattering stereotype, fed over three decades of belligerency and four wars by an anti-Israeli attitude in Egypt's press, movies and literature. Normally tolerant Egyptians rely on images of a savage enemy or an unscrupulous trader. [New York Times] Emergency American aid to Turkey totaling $150 million to help it cope with internal problems is being asked of Congress, President Carter announced. The economic and military assistance is designed to help Ankara cope with recent political and economic setbacks and potential turmoil. [New York Times] The fall of Kampala seemed imminent. An invasion force of Tanzanian troops and Ugandan rebels converged on the Ugandan capital from five points following the heaviest bombardment of the city to date. Troops loyal to President Idi Amin were reported to be fleeing to the east. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 878.72 (+5.02, +0.57%)
S&P Composite: 103.34 (+0.47, +0.46%)
Arms Index: 0.57

	Issues	Volume*
Advances	885	19.82
Declines	547	6.97
Unchanged	463	5.11
Total Volume		31.90

* 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*
April 9, 1979	873.70	102.87	27.30
April 6, 1979	875.69	103.18	34.72
April 5, 1979	877.60	103.26	34.54
April 4, 1979	869.80	102.65	41.94
April 3, 1979	868.33	102.40	33.53
April 2, 1979	855.25	100.90	28.97
March 30, 1979	862.18	101.59	29.97
March 29, 1979	866.77	102.03	28.51
March 28, 1979	866.25	102.12	39.92
March 27, 1979	871.36	102.48	32.93