News stories from Wednesday September 5, 1973

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

President Nixon held his second news conference in the past two weeks, using the occasion to criticize Congress. He intends to send a message outlining his legislative priorities to Congress.Regarding the Middle East oil situation, the President stated that the U.S. and other Western nations would stop buying oil from Arab states if prices continue to rise. He insisted that the Arabs and Israelis are both responsible for the Middle East conflict, and the U.S. would continue to try to bring peace to the region. Nixon refused to comment on the Agnew investigation and refused to issue a definitive ruling for the press regarding his decision on the White House tapes The president was also questioned about his land deals, profits and taxes. [CBS] One year ago Palestinian terrorists murdered 11 Israeli athletes at the Munich Olympic games. The Munich tragedy was recalled today as other Palestinian terrorists seized the Saudi Arabian embassy in Paris. Arab ambassadors are negotiating with the terrorists, who hold 13 hostages. One hostage was thrown out a window, but was not seriously injured. The terrorists have offered to release two women hostages if the Iraqi ambassador will accompany the terrorists from France. [CBS] Five Arabs were arrested near Rome after being discovered with two Russian-made missile launchers. The Arabs may have wanted to blow up Israeli planes leaving the airport. [CBS] A Los Angeles grand jury handed down secret indictments in the Ellsberg break-in probe. Indictments were issued to John Ehrlichman, David Young, Egil Krogh and G. Gordon Liddy. The Los Angeles County district attorney stated he believes that attorneys will surrender their indicted clients soon. [CBS] Judge John Sirica announced his refusal to allow Watergate felons James McCord and Jeb Magruder to conduct paid lecture tours while awaiting sentencing. Magruder and McCord appeared before Sirica today. McCord's attorney Bernard Fensterwald attempted to negotiate with Sirica regarding the lecture tour, but the judge refused. [CBS] The Justice Department admitted that some news leaks regarding the Agnew kickback-bribery probe have come from the Justice Department. An internal investigation is underway. [CBS] Senate Armed Services committee chairman John Stennis returned to Congress today after recovering from wounds received in a robbery attempt in January. The 72-year-old Stennis received a standing ovation from the Senate. [CBS] Democratic leaders in both houses say that they hope for better relations between Congress and the White House. Senate Majority Leader Mike Mansfield claimed that Congress is making an honest conciliatory effort. Presidential aide Melvin Laird agreed to meet with House Democratic leader Tip O'Neill to work out a compromise on legislative issues. [CBS] Secretary of State designate Henry Kissinger visited Capitol Hill. Kissinger was there to court members of Congress, especially those who will be responsible for his confirmation; confirmation appears to be certain.Senator Harold Hughes said that he may try to delay Kissinger's confirmation until the White House turns over a report it promised regarding the secret Cambodian bombing during 1969-1970. Pentagon officials have claimed delays in creating the report. Hughes said that the information is required for Kissinger's confirmation hearings. [CBS] Pentagon officials reported that a damaged Russian submarine lies off the coast of Cuba. It may have been damaged during maneuvers. [CBS] Cambodian forces again tried unsuccessfully to reopen Highways 2 and 4 outside Phnom Penh. [CBS] Teacher strikes have hit schools all over the nation. The strike in Detroit is the worst. [CBS] Tropical storm Delia broke up off the Texas and Louisiana coast, but floods, winds and high tides still follow her path. Skylab astronauts watched Delia from space. [CBS] Skylab commander Alan Bean has set a new time record for staying in space. [CBS]

Stock Market Report

Dow Jones Industrial Average: 899.08 (+3.69, +0.41%)
S&P Composite: 104.64 (+0.13, +0.12%)
Arms Index: 0.94

	Issues	Volume*
Advances	825	7.50
Declines	586	5.03
Unchanged	382	2.05
Total Volume		14.58

* 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*
September 4, 1973	895.39	104.51	14.21
August 31, 1973	887.57	104.25	10.53
August 30, 1973	882.53	103.88	12.10
August 29, 1973	883.43	104.03	15.69
August 28, 1973	872.07	103.02	11.81
August 27, 1973	870.71	102.42	9.74
August 24, 1973	863.49	101.62	11.20
August 23, 1973	864.46	101.91	11.39
August 22, 1973	851.90	100.53	10.77
August 21, 1973	857.84	100.89	11.48