News stories from Wednesday July 23, 1980

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

A Senate inquiry into Billy Carter's ties to Libya and the Carter administration's handling of his activities as a paid representative of a foreign power was agreed upon by Senate leaders. Republicans and Democrats agreed that the investigation should be thorough and bipartisan and they began discussions on the proper forum. [New York Times] Consumer prices rose more sharply in June than Carter administration and some private economists had expected. The government reported that the index rose by 1 percent last month, which would mean an annual rate of 12.4 percent if extended for 12 months. The increase was propelled largely by housing costs, as food prices continued to moderate and gasoline prices eased for the second straight month. [New York Times] Efforts to avert civil disorders in urban slums were pressed at a conference of community activists and black police officers who believe that the established civil rights organizations have failed to ease the social problems linked to unrest. The meeting, which seeks to form a national movement, was sponsored by 22 minority group organizations in 16 cities and the National Black Police Association. [New York Times] The shootings of four black women are to be investigated by the F.B.I. by order of the Justice Department. The acquittal of two of three Ku Klux Klansmen in the woundings generated a rash of firebombings, brick throwing and looting in a black neighborhood of Chattanooga. [New York Times] The deaths of 13 Salvadorans in the Arizona desert early this month were due to exposure and there was no evidence of strangulation or rape as previously reported, according to a county medical examiner. [New York Times] The world faces "alarming" problems by the year 2000, according to a report prepared for President Carter. It warned that time was running out for action to prevent a starving, overcrowded, polluted, resource-poor globe and it urged the United States to lead an international effort to develop new solutions to combat the threats to the quality of life. [New York Times] Twenty-one people were executed in Teheran after being found guilty of involvement in the alleged plot to overthrow the regime, the state radio said. It also reported six people killed and at least 100 injured in the worst bombing since last year's revolution. [New York Times] Jerusalem would be Israel's capital under a bill that won preliminary approval in Parliament by a vote of 65 to 12, but many of the supporters expressed reservations about the measure. It will be referred back to committee, where it faces pressure from the opposition Labor Party for amendments before being returned to the floor for two more readings. [New York Times] A New York City census undercount was charged by municipal officials, faced with preliminary figures suggesting the possibility of a significant population decline since 1970. The officials began a block-by-block review of utility, housing and other records in an effort to show that thousands of New Yorkers had not yet been counted. At stake are millions of dollars in federal and state funds, as well as the number of the city's Representatives in Congress and its members of the state Legislature. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 928.58 (+1.28, +0.14%)
S&P Composite: 121.93 (-0.26, -0.21%)
Arms Index: 1.02

	Issues	Volume*
Advances	644	17.29
Declines	873	23.98
Unchanged	398	4.62
Total Volume		45.89

* 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*
July 22, 1980	927.30	122.19	52.23
July 21, 1980	928.67	122.51	42.74
July 18, 1980	923.98	122.04	58.04
July 17, 1980	915.10	121.44	48.87
July 16, 1980	904.44	119.63	49.13
July 15, 1980	901.54	119.30	60.90
July 14, 1980	905.55	120.01	45.48
July 11, 1980	891.13	117.84	38.31
July 10, 1980	885.92	116.95	43.73
July 9, 1980	897.27	117.98	52.00