News stories from Tuesday June 30, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A renewed national optimism was reflected in the latest New York Times/ CBS News Poll in contrast to the unaccustomed pessisism that the survey indicated in 1979 and 1980. In 1979, for example, only 24 percent of the public thought that the country would be better off in five years, while 43 percent believed it would be worse off. But now, 46 percent believe that 1986 will be better than 1981, while 29 percent expect it to be worse. [New York Times]
- A vow to continue the budget battle in Congress was made by Tip O'Neill, the Speaker of the House, despite his severe defeat last week. He said he planned to hold further committee hearings to increase public awareness of the deep reductions contained in the White House package, try to overturn key parts of the package in the House-Senate bargaining conference and, if necessary, force additional votes on the House floor over specific cuts. [New York Times]
- A "needs test" for college loans guaranteed by the federal government will be required of at least one million students, beginning Oct. 1, after the start of the next academic year. Under the budget cuts sought by the Reagan administration and approved last week by both the House and the Senate, the students will have to prove genuine financial need to qualify for the assistance. [New York Times]
- A voter-mandated tax cut takes effect in Massachusetts tomorrow, the start of a new fiscal year, amid no agreement in some towns and cities, including Boston, on corresponding budget cuts. The state also lacks a new budget because of continuing differences over how to provide added aid to localities to ease the tax-cut burden. [New York Times]
- The Atlanta homicide case in which a music promoter is being held for possible indictment is likely to produce a complex battle over "trace evidence," a speciality in forensic science that is increasingly important in criminal trials. A specialist has testified that fibers and dog hairs were the only physical evidence linking the suspect to the latest victim in the 28 unsolved murders of young blacks. [New York Times]
- An end of import curbs on shoes was ordered by President Reagan, who said that the move strengthened his commitment to free trade and paved the way for lower retail shoe prices. On the unanimous recommendation of his advisers and against the urging of members of Congress from shoe-producing states, the President refused to extend four-year-old quotas on shoe shipments from Taiwan and South Korea. [New York Times]
- A close election in Israel was indicated by projections based on early returns. They showed the two major parties in a tight race that appeared to provide Prime Minister Menachem Begin with a chance to form a new government based on a slim parliamentary majority. [New York Times]
- Iranians thronged a cemetery in Teheran for the funeral of most of the political figures who were killed Sunday in a bomb explosion that Ayatollah Khomeini attributed to Marxist guerrillas. The death toll from the blast rose to 74 as two wounded leaders died. [New York Times]
- The siege of Zahle ended in Lebanon as Christian militiamen were replaced by government policemen. The transfer brought the end of a 91-day siege by Syrian troops. [New York Times]
- The Maoist era was assessed formally by China's leaders as they began to chart a new era of economic development. The Communist Party declared that Mao Tse-tung, who led the party to power and ruled China for 27 years, was a brilliant revolutionary who became a blundering leader. [New York Times]
- Ireland's new Prime Minister is Garret FitzGerald, a former economics professor who served four years as Foreign Minister in an earlier government. He was chosen by a vote of 81 to 78 in the new Parliament. [New York Times]
- A major Nazi war crimes trial ended in West Germany with the conviction of eight former guards of the Maidanek camp in Poland. Seven of the nine defendants were found guilty of complicity in murder at the camp, where 250,000 inmates died, but only Hermine Braunsteiner Ryan, a former New Yorker, who was convicted of murder, received a life sentence. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 976.88 (-7.71, -0.78%)
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 29, 1981 | 984.59 | 131.89 | 37.93 |
| June 26, 1981 | 992.87 | 132.56 | 39.24 |
| June 25, 1981 | 996.77 | 132.81 | 43.91 |
| June 24, 1981 | 999.33 | 132.66 | 46.65 |
| June 23, 1981 | 1006.66 | 133.35 | 51.84 |
| June 22, 1981 | 994.20 | 131.95 | 41.79 |
| June 19, 1981 | 996.19 | 132.27 | 46.42 |
| June 18, 1981 | 995.15 | 131.64 | 48.40 |
| June 17, 1981 | 1006.56 | 133.32 | 55.47 |
| June 16, 1981 | 1003.33 | 132.15 | 57.77 |