News stories from Tuesday October 27, 1981

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

A curb on domestic intelligence gathering is backed by the Senate intelligence committee, which recommended that the Reagan administration abandon its plan to permit the C.I.A. to infiltrate groups in this country. The restriction was imposed by President Carter in 1978. [New York Times] The flight controllers' union lost another round in its effort to retain its legal right as the exclusive bargaining agent for members. A federal appeals court denied further delay in carrying out a federal order stripping the union of its representation rights because of the illegal air controllers' strike that began on Aug. 3. [New York Times] Andrew Young was elected as Mayor of Atlanta, defeating Georgia State Representative Sidney Marcus, a moderate white. Mr. Marcus conceded the contest, saying that he pledged his "fidelity" to Atlanta and his "support" to Mr. Young. As the last handful of returns was being counted Mr. Young was winning the election by more than 15 percent. [New York Times] More support for the sale of Awacs was announced. Eight Senators who previously took no position said they would approve President Reagan's plan to sell the advanced radar craft to Saudi Arabia, and one strong opponent, Senator Roger Jepsen, Republican of Iowa, switched to Mr. Reagan's side. The statements raised the strong possibility that the President might win when the Senate votes tomorrow afternoon. Latent anti-Semitism is being stirred by the debate surrounding the proposed sale of Awacs radar planes to the Saudis, according to several Senators on both sides of the issue. Some cited a marked increase in anti-Semitic mail and also anti-Semitic remarks they said they heard in recent visits to their states. [New York Times] Evidence of the smuggling of Haitians was found in the autopsies of 33 who drowned Monday when their jerry-built boat capsized off Miami. A medical examiner said that the victims had eaten large cooked meals less than two hours before they died, indicating that they had been transferred to the boat from a "mother ship," or freighter, within American waters. [New York Times] James Florio urged the resignation of Anne Gorsuch, administrator of the Enviromental Protection Agency, on the ground that she had failed to enforce the law. Representative Florio, the Democratic candidate for Governor of New Jersey, spoke at a news conference. Meanwhile, Thomas Kean, the Republican candidate for Governor, asserted that Mr. Florio backed higher spending. [New York Times] More American food aid to Poland was announced by the Reagan administration. It said it would send $29 million worth of surplus dairy products to help resolve Poland's "pressing difficulties peacefully and without foreign interference." [New York Times] France's transfer of arms to Chad to help counter a feared attempt by Libya to destabilize or overthrow the Chadian government was confirmed by officials in Paris. [New York Times] Finland's President resigned because of an incapacitating illness. Urho Kekkonen, who has been President for more than 25 years, was acclaimed in a broadcast address by the acting President for his diplomatic dealings with the Soviet Union. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 838.38 (+7.42, +0.89%)
S&P Composite: 119.29 (+1.13, +0.96%)
Arms Index: 0.68

	Issues	Volume*
Advances	996	36.05
Declines	484	11.87
Unchanged	424	5.11
Total Volume		53.03

* 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*
October 26, 1981	830.96	118.16	38.20
October 23, 1981	837.99	118.60	41.98
October 22, 1981	848.27	119.64	40.63
October 21, 1981	851.03	120.10	48.48
October 20, 1981	851.88	120.28	51.53
October 19, 1981	847.13	118.98	41.58
October 16, 1981	851.69	119.19	37.80
October 15, 1981	856.26	119.71	42.82
October 14, 1981	850.65	118.80	40.25
October 13, 1981	865.58	120.78	43.07