News stories from Tuesday June 17, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The biggest clashes in South Africa in four years erupted in mixed-race areas around Cape Town. At least eight people were reported killed and 50 wounded in the fighting between the police and civilians protesting apartheid. Stoning, looting and burning were widespread in one crowded area that was in a state of siege. The police sealed it off and rushed in reinforcements. [New York Times]
- A tax cut is under active consideration in a major policy shift, according to senior administration officials. They confirmed that they had begun to discuss the size, shape and timing of a 1981 tax reduction that President Carter could propose this year, perhaps as part of the midyear budget review next month. [New York Times]
- Military spending is rising and the continuing budget debate centers on how much it will increase. Arguments for increased defense spending have been led by Congress, particularly the Senate, and military leaders. [New York Times]
- Any action against Ramsey Clark for traveling to Iran despite a presidential ban is to be decided by Attorney General Benjamin Civiletti, according to senior Carter administration officials. They said that the White House had explicitly told him that the decision was his. [New York Times]
- Two false nuclear alerts were caused this month by a failure in a 46-cent component in a computer at the North American Air Defense Command headquarters, a senior Pentagon official announced. He said that the damaged circuit would be replaced, that transmissions had been shifted to alternate mutes for the present and that error detection and correction procedures would be improved. [New York Times]
- The irrigation ruling by the Supreme Court involving California's lush Imperial Valley has ended the dream of the doctor who brought the suit and has reinforced the dream of the valley's well-to-do landowners. The decision Monday, in which the court said that farmers are entitled to federally subsidized water regardless of the size of their farms, came after 13 years of court battles. [New York Times]
- A reputed crime leader was charged with racketeering, conspiracy and fraud in an alleged plot to bribe public officials in Louisiana. A federal grand jury in New Orleans issued an indictment against Carlos Marcello, reputedly a top leader of organized crime in the country, and three other men after a one-year undercover inquiry by the F.B.I. [New York Times]
- A Jordanian-American meeting helped "clear the air" between President Carter and King Hussein, according to White House officials. But after the two-hour session they said that the King reaffirmed Jordan's determination not to join the American-sponsored talks between Egypt and Israel on Palestinian autonomy in the West Bank and Gaza as long as Israel continued to occupy the areas. [New York Times]
- A U.S. military sale to Saudi Arabia is being considered because of the Soviet military intervention in Afghanistan. Citing the changed "security atmosphere" in the region, the administration said it might decide to sell to the Saudis missiles and other strategic equipment for American F-15's that it had promised Israel and Congress would be prohibited. [New York Times]
- Giving up some church land in Brazil to the sharecroppers living there was offered by the Roman Catholic hierarchy. The church, angered by government allegations that it is among the large rural landholders exploiting poor farmers, challenged its critics to make a similar offer. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 879.27 (+1.54, +0.18%)
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* |
| June 16, 1980 | 877.73 | 116.09 | 36.18 |
| June 13, 1980 | 876.37 | 115.81 | 41.85 |
| June 12, 1980 | 872.61 | 115.52 | 47.30 |
| June 11, 1980 | 872.70 | 116.02 | 43.80 |
| June 10, 1980 | 863.99 | 114.66 | 42.02 |
| June 9, 1980 | 860.67 | 113.71 | 36.81 |
| June 6, 1980 | 861.52 | 113.20 | 37.22 |
| June 5, 1980 | 858.70 | 112.78 | 49.07 |
| June 4, 1980 | 858.02 | 112.61 | 44.17 |
| June 3, 1980 | 843.77 | 110.51 | 33.15 |