News stories from Monday June 30, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Prime Minister Begin was stricken by a mild heart attack in Israel's Parliament during intensive lobbying against a resolution that would have ousted his government. He was rushed to a hospital, where his doctor described his condition as fair. [New York Times]
- Israel was rebuked again at the U.N. as the Security Council voted 14 to 0 in deploring Israeli policies on Jerusalem. The United States abstained. Earlier, an Israeli bill that led to the resolution -- to declare Jerusalem the permanent capital of Israel -- was approved by a committee of Israel's Parliament and sent to the floor. [New York Times]
- Minor surgery on the deposed Shah was performed to ease complications arising from a bout with pneumonia early last month. A team of Egyptian and French doctors drained fluids from the left lung of the former Iranian ruler, medical sources in Cairo said. Another source reported that the operation had been a success. [New York Times]
- A curb on financing abortions was upheld in a 5-to-4 decision by the Supreme Court. It ruled that a congressional ban on Medicaid financing for most abortions does not violate the constitutional rights of poor women, even those for whom the procedure is medically necessary. The government payments that resumed after a federal judge declared the ban unconstitutional last January will now be halted, cutting off funds for about 250,000 to 300,000 women a year.
The impact of the High Court ruling limiting federal payments for abortions will depend in part on legislative or court action in the 22 states now financing abortions for poor women. New York is among the states paying the full cost of Medicaid abortions, and political pressure is expected to increase to halt the payments.
[New York Times] - A $96.1 million summer jobs program was announced by the Carter administration to employ 32,000 people in 31 cities hardest pressed by the recession. Administration officials said that New York City would receive $12.04 million to create 5,258 jobs. [New York Times]
- Compensation for Indians was ordered by the Supreme Court, which ruled that the government must pay $105 million to eight Sioux tribes in return for the illegal seizure of the Black Hills of South Dakota in 1877. The 8-to-1 decison affirmed a 1979 ruling by the United States Court of Claims that was believed to be the largest award ever made by that tribunal. [New York Times]
- A major renewal of Baltimore is being celebrated. On Wednesday the city will open Harborplace, the latest of its rejuvenation plans. The project, a cluster of hundreds of restaurants, oyster bars, ethnic food shops, book stalls and arts and crafts kiosks in two two-story glass enclosures, was developed by James Rouse, who did New York's South Street Seaport and the Faneuil Hall marketplace in Boston. [New York Times]
- The toll rose In the worst heat wave in the Southwest in more than 25 years. At least 59 deaths were attributed to the more than 100-degree temperatures, more crops withered in the fields and thousands of acres of timberland were lost in raging fires. [New York Times]
- Iran is expelling a Soviet diplomat on a charge of spying. The diplomat, a First Secretary in the Soviet Embassy since late 1977, was ordered to leave Iran within 24 hours. [New York Times]
- West Germany urged the Soviet Union to carry out a full troop withdrawal from Afghanistan and to agree to negotiations on medium-range missiles in Europe "without preconditions." Leonid Brezhnev, the Soviet leader, apparently gave no ground on either issue in the first round of talks with Chancellor Helmut Schmidt. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 867.92 (-13.91, -1.58%)
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* |
| June 27, 1980 | 881.83 | 116.00 | 33.11 |
| June 26, 1980 | 883.45 | 116.19 | 45.10 |
| June 25, 1980 | 887.54 | 116.72 | 46.50 |
| June 24, 1980 | 877.30 | 115.14 | 37.73 |
| June 23, 1980 | 873.81 | 114.51 | 34.18 |
| June 20, 1980 | 869.71 | 114.06 | 36.52 |
| June 19, 1980 | 870.90 | 114.66 | 38.28 |
| June 18, 1980 | 881.91 | 116.26 | 41.96 |
| June 17, 1980 | 879.27 | 116.03 | 41.99 |
| June 16, 1980 | 877.73 | 116.09 | 36.18 |