News stories from Friday February 1, 1980

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

Few details of their escape from Iran with the help of the Canadian government were given by six American embassy workers at the State Department in Washington, where they also met briefly with President Carter.Americans are thanking Canada fervently for its help in the escape of the six American embassy employees and their gratitude has tones of hero worship. Letters and telegrams and cookies and cakes are being sent to Canada from across the United States. In New York, Mayor Koch offered the key of the city to Kenneth Taylor, Canada's Ambassador in Teheran who supervised the Americans' escape. [New York Times] American forces could not stop a Soviet invasion of northern Iran, a Defense Department report on the Persian Gulf region said, and warned that the United States should therefore consider using "tactical" nuclear weapons in any conflict there. [New York Times] China joined the boycott of the Olympic Games in Moscow, and Japan said it thought a boycott was desirable. This brought to 18 the number of countries that have refused to participate. In Frankfort, the heads of Olympic committees representing 11 European nations met but did not decide on the boycott question.An alternative set of games in Melbourne or Montreal, rather than in Moscow, is being considered by the Carter administration as President Carter expressed his personal commitment to alternative games "of the highest quality" if the Soviet Union does not remove its troops from Afghanistan by Feb. 20. [New York Times] The jobless rate rose sharply in January to 6.2 percent of the total work force, after remaining relatively stable in the previous 17 months, the Labor Department reported. The rate was 5.9 percent in December. A household survey conducted by the department's Bureau of Labor Statistics found that total employment had declined by 108,000 jobs. But another measure used by the bureau -- a survey of establishments that regularly hire workers -- indicated that employment in January rose by 305,000 jobs. [New York Times] An anti-Ku Klux Klan march and rally in Greensboro, N.C., tomorrow has evoked new fears of violence in the city where an event occurred that galvanized the civil rights movement of the 1960's. That historic event was re-enacted by four black men, for the most part heavier and more prosperous, and certainly less grim, at the lunch counter of F.W. Woolworth's store, where they were refused service 20 years ago. The mayor of Greensboro declared a limited state of emergency. [New York Times] Resumption of the draft is solidly backed by Americans, but they are split on whether women should be subject to conscription, according to an Associated Press-NBC News poll. [New York Times] Steps toward self-rule for Palestinians on the West Bank and in the Gaza Strip were agreed to by Israel and Egypt, breaking the eight-month deadlock on the issue of Palestinian autonomy. Sol Linowitz, President Carter's special envoy to the Middle East, worked out the agreement in private discussions with Prime Minister Mustafa Khalil of Egypt and Interior Minister Yosef Burg of Israel. [New York Times] Renegotiation by Donald Trump of a 20-year lease on a tennis club at Grand Central Terminal will be requested by Richard Ravitch, chairman of the Metropolitan Transportation Authority. Mr. Ravtich's announcement followed criticism of the lease by the New York State Comptroller, Edward Regan, and City Councilman Henry Stern, who called the lease a "sweetheart contract." [New York Times]

Stock Market Report

Dow Jones Industrial Average: 881.48 (+5.63, +0.64%)
S&P Composite: 115.12 (+0.96, +0.84%)
Arms Index: 0.67

	Issues	Volume*
Advances	778	25.94
Declines	669	15.05
Unchanged	420	5.62
Total Volume		46.61

* 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*
January 31, 1980	875.85	114.16	65.89
January 30, 1980	881.91	115.20	51.17
January 29, 1980	874.40	114.07	55.48
January 28, 1980	878.50	114.85	53.62
January 25, 1980	876.11	113.61	47.09
January 24, 1980	879.95	113.70	59.10
January 23, 1980	877.56	113.44	50.75
January 22, 1980	866.21	111.51	50.61
January 21, 1980	872.78	112.10	48.03
January 18, 1980	867.15	111.07	47.15