News stories from Monday June 9, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A rise in the price of gasoline in the United States from 1 to 1½ cents a gallon was in view as the oil-producing nations agreed to sever the link between oil prices and the dollar and to start quoting prices in Special Drawing Rights. The ministers from the 13 nations of the Organization of Petroleum Exporting Countries also agreed that oil prices must go up when the current price freeze ends Oct. 1. [New York Times]
- President Ford announced that he was forwarding the Rockefeller commission report on the Central Intelligence Agency, including information on alleged assassination plots against foreign leaders, to the Department of Justice for possible prosecution. He said he would release the report today, but withhold information on the assassination question because it was "incomplete and extremely sensitive." The assassination data also will be sent to two congressional committees. [New York Times]
- Representative Lucien Nedzi, chairman of the House Select Committee on Intelligence, agreed to appoint a special subcommittee to take over the investigation of the Central Intelligence Agency, thus blunting an assault by Democrats on his chairmanship. The agreement was worked out between the Democratic members of the committee and the House leadership under Carl Albert, Speaker of the House. [New York Times]
- The New York state legislature, summoned into late session in Albany, continued to meet amid reports that a final agreement was near among state and city politicians and the banking industry on creating a new fiscal agency designed to rescue New York City from pending default. Negotiators said cautiously that the major points appeared to have been settled and that, barring substantial complaints from the legislators, there would be an attempt to enact a bill. [New York Times]
- Premier Yitzhak Rabin of Israel, who will visit Washington this week, plans to press President Ford for an overall understanding with the United States on what diplomatic steps should follow in the Middle East if Israel and Egypt put aside differences and worked out an interim Sinai agreement. This appeared to indicate a shift in Israeli policy and surprised United States officials. [New York Times]
- Western military sources said that the military forces that Israel claims to have withdrawn from the Suez Canal region a week ago had actually been pulled out many months earlier or, in some cases, had never been there. They said that the Egyptian command knew that the forces had been withdrawn earlier but decided not to challenge the claim because the Israeli announcement was considered politically important. Israel denied the report. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 830.10 (-9.54, -1.14%)
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 6, 1975 | 839.64 | 92.48 | 22.23 |
| June 5, 1975 | 842.15 | 92.69 | 21.61 |
| June 4, 1975 | 839.96 | 92.60 | 24.90 |
| June 3, 1975 | 846.14 | 92.89 | 26.56 |
| June 2, 1975 | 846.61 | 92.58 | 28.24 |
| May 30, 1975 | 832.29 | 91.15 | 22.67 |
| May 29, 1975 | 815.00 | 89.68 | 18.57 |
| May 28, 1975 | 817.04 | 89.71 | 21.85 |
| May 27, 1975 | 826.11 | 90.34 | 17.05 |
| May 23, 1975 | 831.90 | 90.58 | 17.87 |