News stories from Tuesday June 29, 1982

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

The space shuttle's performance on this, its fourth mission, was described by flight controllers as the "cleanest" of the test program, with all systems of the complex vehicle operating virtually trouble-free. The only problem under investigation was the loss of the Columbia's two spent solid-fuel booster rockets, which sank after apparently breaking apart in the Atlantic after the launching. [New York Times] Changes in women's political habits indicated by a variety of new statistics worry the Republicans and elate the Democrats. Women are voting in increasing numbers and have been allying themselves more with Democratic positions. More women than men distrust President Reagan and fear he is too bellicose. [New York Times] The Voting Rights Act was extended under a bill signed by President Reagan in a White House ceremony attended by many critics of his civil rights record. The 25-year extension of the 1965 law contained stronger provisions against bias than those sought by Mr. Reagan. [New York Times] Proof of intentional bias is needed to establish a violation of a key civil rights law, the Supreme Court ruled. The 7-to-2 decision, overturning two lower court rulings, also held that an employer cannot ordinarily be found liable for the discriminatory practices of a union with which the employer cooperates in a hiring hall system and apprenticeship program. [New York Times] Presbyterian unity advanced in a move to heal a breach begun by the Civil War. The general assembly of the 2.3-million-member United Presbyterian Church overwhelmingly approved plans to merge with the 800,000-member Presbyterian Church in the United States. A merger must still be approved by the regional units of both denominations. [New York Times] Hallucinogens have been detected in the bodies of humans and animals by means of a modified version of a device used to measure changes in skin surface electrical readings associated with eye movements, according to a New Jersey doctor. He said the machine could detect the presence of specific mind-altering drugs and distinguish one from another. [New York Times] A face-saving offer to the P.L.O. was announced by Prime Minister Menachem Begin in an address to the Israeli Parliament. Declaring that Israel had no desire to humiliate the Palestinian guerrillas, he said they could leave Beirut with their personal weapons. Just two days earlier, Israel's cabinet insisted that the arms be surrendered to the Lebanese army. [New York Times] A deadlock was reported in the talks for neutralizing the military presence of the Palestinians in Lebanon. The special American envoy, Philip Habib, was quoted as saying, "there is a total block on how and when this should be done." [New York Times] Washington appealed to Israel to give Mr. Habib enough time to negotiate an agreement that would end the Palestinian guerrillas' military presence in Lebanon. The Reagan administration was increasingly concerned that the Israelis would launch a major attack on west Beirut, shattering the four-day cease-fire. [New York Times] West European leaders urged a simultaneous withdrawal of Israeli and Palestinian forces from Beirut. The Common Market members again deplored the Israeli invasion of Lebanon and reaffirmed a 1980 policy holding that the Palestine Liberation Organization should be admitted to talks on the future of Palestinians. [New York Times] American-Soviet arms talks began in Geneva. The United States delegation presented a letter from President Reagan that appealed for a reversal of the trend toward increasingly unstable strategic relations between the two superpowers. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 812.21 (+0.28, +0.03%)
S&P Composite: 110.21 (-0.05, -0.05%)
Arms Index: 0.95

	Issues	Volume*
Advances	698	20.70
Declines	702	19.84
Unchanged	446	6.45
Total Volume		46.99

* 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*
June 28, 1982	811.93	110.26	40.70
June 25, 1982	803.08	109.14	38.74
June 24, 1982	810.41	109.83	55.86
June 23, 1982	813.77	110.14	62.70
June 22, 1982	799.66	108.30	55.29
June 21, 1982	789.95	107.20	50.36
June 18, 1982	788.62	107.28	53.80
June 17, 1982	791.48	107.60	49.23
June 16, 1982	796.90	108.87	56.28
June 15, 1982	801.27	109.69	44.97