News stories from Tuesday March 25, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Britain's Olympic panel approved participation in the Moscow Games this summer, rejecting the appeals of Prime Minister Margaret Thatcher. The decision by the association represented the most serious setback yet for President Carter's campaign for a Western boycott of the Moscow Olympics. It seemed certain that virtually all of Britain's major contenders would participate. [New York Times]
- At least 30 bombs shook San Salvador and other parts of El Salvador hours after the assassination of Archbishop Oscar Arnulfo Romero. Officials expressed the belief that right-wing terrorists were responsible for the murder. The bombings heavily damaged commercial buildings, but no casualties were reported. [New York Times]
- Edward Kennedy defeated President Carter decisively in the New York and Connecticut presidential primaries, giving his campaign for the Democratic nomination a critically needed lift. With inflation and the policy toward Israel major issues, Senator Kennedy won the New York primary largely on the basis of a landslide victory in New York City. He won more narrowly in Connecticut by capturing key Democratic cities.
George Bush won the Connecticut Republican primary, reviving his campaign for the party's presidential nomination. In the New York Republican primary, Ronald Reagan won 71 delegates to the party's National Convention, guaranteeing that his backers would control the delegation of a state where he had been all but frozen out four years ago.
[New York Times] - An independent drive for President by Representative John Anderson might occur. The Illinois Republican, who has been campaigning in his party's primaries with unexpected success as a relatively liberal maverick, said that he was "mulling over" the possibility of making such a bid. At campaign appearances, Mr. Anderson has been calling for a "new coalition" of independent voters. [New York Times]
- John Connally backed Ronald Reagan, strongly endorsing him for the Republican presidential nomination and asserting that he had the "unprecedented" support of "middle Americans." Mr. Connally had fought hard before dropping out of the contest after Mr. Reagan soundly defeated him in the primary in South Carolina. [New York Times]
- Near-record energy price increases pushed the Consumer Price Index up 1.4 percent last month, the government reported, bringing inflation over the last three months to an annual rate of 17.2 percent. It also said that the average American worker lost 1.4 percent of his purchasing power last month, raising the loss so far in 1980 to an annual rate of 17.3 percent. [New York Times]
- Increased spending cuts are planned by President Carter, according to administration officials. They said he would propose about $15.5 billion in reductions in the 1981 fiscal year budget in place of the $13 billion to $14 billion he indicated in his anti-inflation speech 10 days earlier and that he had agreed to spending cuts of $2.5 billion in the 1980 fiscal year rather than $2 billion that he previously indicated. [New York Times]
- Boeing won a major arms contract. The Pentagon announced that the Boeing Aerospace Company would be the prime contractor in a $4 billion program to build 3,400 cruise missiles over the next seven years. The government said that the company had been chosen over the General Dynamics Convair Division after two years of competition and tests. About 30 subcontractors will share in the program. [New York Times]
- Jean Harris was indicted for murder in the second degree by a Westchester County grand jury, which charged her with "intent" to kill Dr. Herman Tarnower, her longtime friend, when he was fatally shot two weeks ago at his home in Purchase, N.Y. [New York Times]
- A right of a crime victim was upheld by the Supreme Court, which ruled unanimously that the victim should be allowed to identify the accused at a trial even if the accused is found to have been arrested illegally. The Justices reasoned that a victim's knowledge of a crime exists independently of later police misconduct. [New York Times]
- Aiding multi-employer pension plans, which are in financial trouble, is the aim of legislation being speeded through Congress with the support of both business and labor. Backers contend that the legislation will avert the collapse or termination of many programs by employers who would not or could not assume the liability of guaranteeing the full pensions. [New York Times]
- Three Colombian hostages were freed by guerrillas holding the Dominican Embassy in Bogota in a gesture that may have indicated that progress had been made in negotiations on the remaining 29 captives. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 767.83 (+2.39, +0.31%)
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* |
| March 24, 1980 | 765.44 | 99.28 | 39.22 |
| March 21, 1980 | 785.15 | 102.31 | 32.22 |
| March 20, 1980 | 789.08 | 103.12 | 32.58 |
| March 19, 1980 | 800.94 | 104.31 | 36.52 |
| March 18, 1980 | 801.62 | 104.10 | 47.34 |
| March 17, 1980 | 788.65 | 102.26 | 37.01 |
| March 14, 1980 | 811.69 | 105.43 | 35.18 |
| March 13, 1980 | 809.56 | 105.62 | 33.00 |
| March 12, 1980 | 819.54 | 106.92 | 37.99 |
| March 11, 1980 | 826.45 | 107.76 | 41.42 |