News stories from Friday August 21, 1970

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

Cambodians halted the Communist drive on Phnom Penh and reported 500 enemy dead. A Communist regiment is near the capitol, and North Vietnamese regulars are almost within mortar range; Cambodian troops are exhausted. [CBS] The Senate has forbidden the United States pay to foreign mercenaries in Laos and Cambodia. Senator William Fulbright is investigating the Cambodian aid program. The U.S. gives Cambodia $40 million per year and may increase it. [CBS] Dep. Defense Secretary David Packard criticized military contracts, telling defense contractors that they spend too much on useless weapons, and he derided Pentagon management; Pentagon personnel rarely criticize the organization. Defense Secretary Melvin Laird is serious about reform. [CBS] The military may draft doctors next year because too few volunteer for service. [CBS] Israel reported that the United Arab Republic is building new surface-to-air missile sites inside the cease-fire zone; Israel is ready for United Nations peace talks. [CBS] The second anniversary of the Soviet Union's invasion of Czechoslovakia passed without incident. [CBS] A Greek prosecutor charged shipping magnate Stavros Niarchos with murdering his wife; she died from an overdose of barbiturates and had been beaten. [CBS] The Campus Unrest Commission concluded their Kent State University hearings. Their findings: no sniper fire sparked the National Guard shootings; one student claims that a Guardsman gave a hand signal to fire on students; President Nixon must remove U.S. troops from Southeast Asia, end pollution, and help the poor and blacks in order to end campus unrest. The commission is returning to Washington, DC to prepare its report. [CBS] The National Guard is now being equipped with M-16 rifles. [CBS] National Black Panther chairman Bobby Seale swears that he ordered no one to be killed; he and Lonnie McLucas are charged with murdering a suspected police informer last year. [CBS] The rate of increase in the cost of living has slowed. Consumer prices are up 3.7%; food is up more. [CBS] President Nixon and Mexican President Gustavo Diaz Ordaz announced an agreement to end the border dispute; the center of the Rio Grande River is the international border, despite changes in the river's course.President Diaz is trying to federalize residency requirements and end quickie divorces. Mexican divorces attract many Americans; the end of the divorce business would hurt the economy of Juarez, Mexico. [CBS] Madrid's Fountain of Health has been declared to be polluted. [CBS]

Stock Market Report

Dow Jones Industrial Average: 745.41 (+15.81, +2.17%)
S&P Composite: 79.24 (+1.60, +2.06%)
Arms Index: 0.58

	Issues	Volume*
Advances	1,116	10.96
Declines	275	1.56
Unchanged	237	0.91
Total Volume		13.43

* 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*
August 20, 1970	729.60	77.64	10.17
August 19, 1970	723.99	76.96	9.87
August 18, 1970	716.66	76.20	9.50
August 17, 1970	709.06	75.33	6.94
August 14, 1970	710.84	75.18	7.85
August 13, 1970	707.35	74.76	8.64
August 12, 1970	710.64	75.42	7.44
August 11, 1970	712.55	75.82	7.33
August 10, 1970	713.92	76.20	7.58
August 7, 1970	725.70	77.28	9.37