News stories from Thursday February 18, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Tight monetarism was upheld by President Reagan. He gave an unqualified endorsement to the Federal Reserve's tight monetary policy, saying that the central bank and the administration could bring down inflation and interest rates faster by "working together." [New York Times]
- The President held firm on his budget, saying he could not accept proposals to increase taxes or reduce his plans for higher military spending. [New York Times]
- An award for President Reagan has stirred a controversy within the National Conference of Christians and Jews. Many staff members of the interfaith group say that its scheduled presentation next month of the Charles Evans Hughes Gold Medal for "courageous leadership in government, civic and humanitarian affairs" appears to align the organization with Mr. Reagan's economic policies. [New York Times]
- Nonprofit theater will be hit hardest under the federal budget reductions being proposed by the National Endowment for the Arts, according to cultural leaders interviewed around the country. They said that small arts and avant-garde groups would have to retrench sharply and some might be forced to close. [New York Times]
- Middle Western Republicans lost their third strong candidate in as many months as Gov. Robert Ray of Iowa, the nation's senior governor, said he would not seek re-election. His announcement, following the decisions of Gov. James Rhodes of Ohio not to run for the Senate and Gov. William Milliken of Michigan not to seek re-election or a Senate seat, stirred Republican concern and Democratic optimism. [New York Times]
- Ford reported a loss of $346 million for the fourth quarter and a loss of $1.06 billion for 1981, which was an improvement from a loss of $1.54 billion for 1980. Industry analysts and top Ford officials said that the recent concessions granted by the United Automobile Workers and more favorable foreign currency exchange rates could help improve Ford's performance this year. [New York Times]
- An easing of lead pollution rules will be considered, according to the Environmental Protection Agency. It said it might relax or repeal a requirement that large oil refiners limit the amount of lead they add to gasoline on the ground that the pollution-control regulation was becoming outmoded. Lead upgrades gasoline in an engine but it is a dangerous pollutant. [New York Times]
- A 13-day civil rights march ended in Montgomery, Ala., where black leaders from across the South and 3,500 to 5,000 supporters called for continued federal protection of their voting rights and the release from a state prison of two political activists convicted of vote fraud. [New York Times]
- Britain's partial rail shutdown ended as the railroad agreed to pay striking engineers a 3 percent pay increase. The entire rail network has been shut down two business days and Sundays for each of five weeks. [New York Times]
- No combat plans for American troops have been set, according to President Reagan. At a televised news conference, he reiterated that "there are no plans to send American combat troops into action" in El Salvador or anywhere else, but he declined to discuss any options that his administration might be weighing to bolster the Salvedoran government. [New York Times]
- A contender in Salvadoran elections has been publicly linked by United States officials with violence and extremism. Ambassador Deane Hinton has told Salvadoran leaders that his main worry about the March 28 balloting has become the unexpectedly strong showing of Roberto d'Aubuisson, a cashiered army officer long associated with coup attempts and paramilitary terror campaigns. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 828.96 (+1.33, +0.16%)
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* |
| February 17, 1982 | 827.63 | 113.69 | 47.65 |
| February 16, 1982 | 831.34 | 114.06 | 48.88 |
| February 12, 1982 | 833.81 | 114.38 | 37.08 |
| February 11, 1982 | 834.67 | 114.43 | 46.62 |
| February 10, 1982 | 836.66 | 114.66 | 46.60 |
| February 9, 1982 | 830.57 | 113.68 | 54.42 |
| February 8, 1982 | 833.43 | 114.63 | 48.50 |
| February 5, 1982 | 851.03 | 117.26 | 53.34 |
| February 4, 1982 | 847.03 | 116.42 | 53.30 |
| February 3, 1982 | 845.03 | 116.48 | 49.56 |