News stories from Thursday August 7, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iran is fomenting violence in the U.S., according to federal officials. They said they had evidence that Teheran had sent money and other forms of aid to this country to help supporters of Ayatollah Khomeini create civil disturbances. The officials also said they had circumstantial evidence suggesting that Teheran had recruited militant students and former convicts to attack Iranian emigres and prominent Moslems in this country who opposed Iran's revolution. [New York Times]
- An Iranian issue troubled Britain, which sought help from a Teheran representative to end an impasse over 67 Iranians who are in jail in London for taking part in a violent demonstration Monday outside the American Embassy. The pro-Khomeini prisoners have refused to identify themselves and most of them are on a hunger strike, but some are taking liquids. [New York Times]
- The plan for revitalizing industry being shaped by the Carter administration takes a middle-of-the-road approach that avoids experimentalism in favor of making better use of many existing federal programs. Top administration officials have indicated that the economic renewal program will also include tax incentives for investment and increased cooperation among government, business and labor. [New York Times]
- Edmund Muskie will campaign to seek support for the Carter adminis-tration's policies in a departure from tradition for a Secretary of State. Opening a series of speeches across the country, Mr. Muskie accused the Republicans of advocating "a foreign policy of reaction" and of practicing "partisan doubletalk." [New York Times]
- Edward Kennedy's aides conceded that even if the Senator won the rules battle at next week's Democratic convention, President Carter was still favored to win renomination. Poll-takers said that while Mr. Carter seemed to have lost significant ground on the rules fight, the votes for his nomination appeared solid. [New York Times]
- Libya said its ties to Billy Carter were "normal" relations of the sort engaged in by many other prominent American citizens and institutions. The Tripoli government attributed allegations against Billy Carter to a "Zionist" campaign.
An offer to lead the Billy Carter inquiry was rejected by James Neal, the former Watergate prosecutor. In his reply to a special Senate subcommittee that had asked him to serve as special counsel, Mr. Neal cited commitments to other clients of his private law practice. But sources close to the negotiations said his decision was based in part on a fear that the inquiry would not be productive.
[New York Times] - Mother Teresa of Calcutta was honored at a mass celebrated by Terence Cardinal Cooke marking the end of her first visit to the United States since she received a Nobel Peace Prize last October. She helped open a soup kitchen in the South Bronx and thanked the poor of New York for "allowing themselves to be taken care of" by the nuns of her order. [New York Times]
- An accidental cloning of genetic matter of the wrong virus led to a halt in experiments by a leading scientist working in a high-security laboratory in California. It was the first reported violation of federal rules governing genetic research. [New York Times]
- A major hurricane advanced with winds up to 185 miles an hour. The storm, which has taken at least 83 lives, swerved away from the resort towns of Mexico's Yucatan Peninsula and headed on a course that prompted residents from Mexico to Alabama to begin taking precautions. [New York Times]
- Israel has protested to Egypt that the peace treaty they signed in 1979 had been repeatedly violated by Egypt's Minister of State for Foreign Affairs. In a letter to President Sadat, Prime Minister Begin said that speeches and activities by the Minister contravened a provision requiring the two countries to "abstain from hostile propaganda against each other." [New York Times]
- Moscow assailed U.S. nuclear policy in an article in Pravda that said that a reported shift in Washington's strategy to acquire an ability to fight a prolonged nuclear war was an "ominous" sign of a "loss of common sense." The article saw in the new strategy, which is said to call for hitting Soviet military targets instead of cities, a "flare-up of war psychosis in Washington." [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 950.94 (+12.71, +1.35%)
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 6, 1980 | 938.23 | 121.55 | 45.02 |
| August 5, 1980 | 929.78 | 120.74 | 45.51 |
| August 4, 1980 | 931.06 | 120.98 | 41.57 |
| August 1, 1980 | 931.48 | 121.21 | 46.43 |
| July 31, 1980 | 935.32 | 121.67 | 54.60 |
| July 30, 1980 | 936.18 | 122.23 | 58.06 |
| July 29, 1980 | 931.91 | 122.40 | 44.84 |
| July 28, 1980 | 925.43 | 121.43 | 35.33 |
| July 25, 1980 | 918.09 | 120.78 | 36.25 |
| July 24, 1980 | 926.11 | 121.79 | 42.42 |