News stories from Wednesday July 16, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Ronald Reagan was nominated by a jubilant Republican Party tonight and then early the following morning announced that he had chosen George Bush as his vice-presidential running mate. The announcement, made personally by Mr. Reagan at the Detroit convention hall, stunned many delegates who had been expecting that former President Gerald Ford would bow to Mr. Reagan's entreaties to join the ticket.
Mr. Reagan picked George Bush, his most persistent foe in the primaries, to run for Vice President after having come close to arranging to have former President Gerald Ford serve as his running mate in exchange for a sweeping promise of power in key fields of authority. Mr. Bush, the former Congressman, diplomat and Director of Central Intelligence, had waited all day without hearing from the Reagan camp as it negotiated to get Mr. Ford to agree to run on the Republican ticket.
[New York Times] - Extra supplies arrived in Moscow in preparation for the Olympic Games. While many residents said the extra shipments of food and clothing were intended to hoodwink foreign visitors into believing the city is always so well stocked, the citizens were delighted to queue up for the fresh fruit, clothing and cheese. [New York Times]
- A killer heat wave has lasted a month in the Southwest, bringing record high temperatures day after day. Weather experts said that while 100-degree temperatures and strings of rainless days were not uncommon in the Southwest, the heat wave had come earlier than usual this year. They said the heat, which has caused more than 700 deaths, might last all season. [New York Times]
- Sworn affadavits were ordered by President Carter earlier this year from cabinet members and other senior officials affirming that they were not responsible for disclosures to the press about administration foreign policy deliberations. It was the first time that a President had sought sworn statements of innocence from his senior aides as part of an investigation into unauthorized disclosures of national security information. [New York Times]
- A Miami police officer was injured by an object thrown through the windshield of her car as stone and bottle-throwing crowds roamed the Liberty City area of Miami for the second night in a row. Police officials reported gunfire in the area and cordoned off streets. An attempt by the police to arrest two robbery suspects on Tuesday touched off disturbances that left 23 people injured. [New York Times]
- A judicial inquest has been granted by a Boston Municipal Court judge into the shooting death of a black teenager by a white police officer after a stolen car chase. The investigation was requested by the district attorney at the urging of the police commissioner and Mayor Kevin White. [New York Times]
- Links to Iranians in this country are suspected in last week's attempted coup in Iran. American officials said there was evidence that the military officers who tried to stage the coup had links with Iranian opposition groups active in the United States and Western Europe. [New York Times]
- A vision of revolution in Turkey ended when the army moved into the Black Sea town of Fatsa to stem a wave of killings that followed efforts by local people to establish a model of self-rule. About 400 people were arrested. The attempt to set up a so-called liberated zone was similar to efforts by many Turks of the extreme left and right to assume power where there is a vacuum of authority. [New York Times]
- China has begun exporting workers for construction projects in the Middle East in an effort to earn foreign exchange to help pay for its modernization program. Several other Asian countries have already made major profits by sending teams of low-paid laborers to the Arab nations, and Peking says it can now underbid them. Since China began this program, it has signed 40 contracts worth almost $100 million. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 904.44 (+2.90, +0.32%)
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* |
| July 15, 1980 | 901.54 | 119.30 | 60.90 |
| July 14, 1980 | 905.55 | 120.01 | 45.48 |
| July 11, 1980 | 891.13 | 117.84 | 38.31 |
| July 10, 1980 | 885.92 | 116.95 | 43.73 |
| July 9, 1980 | 897.27 | 117.98 | 52.00 |
| July 8, 1980 | 897.35 | 117.84 | 45.83 |
| July 7, 1980 | 898.21 | 118.29 | 42.54 |
| July 3, 1980 | 888.91 | 117.46 | 47.23 |
| July 2, 1980 | 876.02 | 115.68 | 42.85 |
| July 1, 1980 | 872.27 | 114.93 | 34.34 |