News stories from Tuesday October 9, 1973

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

Fighting worsened in the Middle East; the probability of an extended war has increased. Israel bombed the Syrian capital of Damascus, killing many Russians. The Russian embassy was destroyed and there were many Syrian civilian casualties. Israeli jets also hit refineries and power plants in northern Syria. The Israeli attacks were allegedly in retaliation for Syrian attacks. A radar site was struck in Lebanon, and military bases in Egypt were hit during Israeli air raids.The main fighting in the Golan Heights between Israel and Syria rages around El Quenitra. Along the Suez front, Israel and Egypt fought in the Israeli-held Sinai desert. The exact location of the combat was unclear although it was probably along the Ismailia road. [CBS] Israel reportedly issued an ultimatum to Jordan regarding Palestinian guerrillas stationed in southern Lebanon. Israeli troops allegedly crossed into Jordan not far from the Golan Heights. Israel and Syria continue to fight on the ground in the Heights, but the Israeli air force appears to be in complete air control. The Israelis intend to finish the war quickly and return home soon.Many Israeli soldiers come from the United States. U.S.-born soldier Jerry Neugeburen said that Israel has no choice but to fight, and soldiers must serve the country. Soldier Richard Steinitz stated that everyone wants the war to be over, but as an Israeli citizen, each man must serve. In London, Syrians viewed a television film of the fighting, obviously depicting a Syrian victory in the Golan Heights. On the Sinai Peninsula, Israel claimed that Egypt was not penetrating into the area as deeply as predicted. Cairo refused to release a film of the incident, but Egypt claimed victory over Israel in tank battle in the Sinai. The Egyptian foreign minister stated that an air raid occurred in Cairo. [CBS] The U.S.S. Guadalcanal joined America's 6th fleet in the Mediterranean. The ship carries nurses and doctors. [CBS] Effects of the war are beginning to be felt in Israel, where there is concern over Syria's use of surface-to-surface warheads. The impact of the warheads can be seen in Israeli villages. Israel has retaliated with bombing raids inside Syria. Israeli casualties are heavy although no figures will be released until after the war.The Israeli economy is suffering also; thousands of tourists are stranded in Israel. Citizens seem to lack enthusiasm for the war. [CBS] Soviet ambassador Yakov Malik walked out of the United Nations Security Council after expressing his disgust with Israeli air raids into Damascus. The raids killed many people in the Soviet embassy. [CBS] The Senate Watergate Committee is investigating a rumor that Nixon friend Bebe Rebozo served as a go-between to obtain a campaign contribution from Howard Hughes to President Nixon. Senator Lowell Weicker wants Rebozo and Hughes to testify before the committee.Today the committee heard from alleged "dirty trickster" John Buckley. Buckley admitted photographing documents which were taken from Muskie headquarters during the 1972 campaign and delivering them to E. Howard Hunt. Asked if he would repeat those acts, Buckley stated he would wait for some time to pass first, but noted that all elections are filled with such activities and they come naturally to someone like himself. Senator Sam Ervin asked if Buckley's conscience bothers him. [CBS] The Senate passed a bill to ban the strip mining of coal in western states. [CBS] The damage award against IBM may be overturned by the same judge who made the ruling. [CBS] Kuwait called for an urgent conference of oil-rich nations to determine how oil can be used as a political weapon against Israel. Nixon administration energy adviser John Love admitted that a severe oil shortage would result if Arab countries decide to withhold oil. [CBS] President Nixon called congressional leaders to a meeting tomorrow regarding the Mideast situation. [CBS]

Stock Market Report

Dow Jones Industrial Average: 974.19 (-3.46, -0.35%)
S&P Composite: 110.13 (-0.10, -0.09%)
Arms Index: 1.13

	Issues	Volume*
Advances	714	7.84
Declines	769	9.55
Unchanged	331	2.05
Total Volume		19.44

* 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 8, 1973	977.65	110.23	18.99
October 5, 1973	971.25	109.85	18.82
October 4, 1973	955.90	108.41	19.73
October 3, 1973	964.55	108.78	22.04
October 2, 1973	956.80	108.79	20.77
October 1, 1973	948.83	108.21	15.83
September 28, 1973	947.10	108.43	16.30
September 27, 1973	953.27	109.08	23.66
September 26, 1973	949.50	108.83	21.13
September 25, 1973	940.55	108.05	21.53