News stories from Monday July 26, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Ronald Reagan named Senator Richard Schweiker of Pennsylvania as his prospective running mate on the Republican ticket. Senator Schweiker, 50 years old, is regarded as one of the most liberal and pro-labor Republicans in Congress. His choice of Mr. Schweiker was apparently influenced by his struggle with President Ford over uncommitted delegates, particularly the key Pennsylvania delegation. [New York Times]
- Justice Department lawyers were said to have recommended that officials of the Central Intelligence Agency not be prosecuted for opening mail between the United States and Communist countries. A government official close to the investigation said that the lawyers who had investigated this aspect of the C.I.A.'s operations had "found evidence of presidential knowledge" of the mail openings that had made them legal. [New York Times]
- The House ethics committee formally recommended that Representative Robert Sikes, Democrat of Florida, he reprimanded on two of three complaints alleging that he used his office for personal gain. It was the first time that the committee had taken action against a member of Congress since it was set up in 1968, following allegations of misdeeds against the late Adam Clayton Powell. The panel's report was tentatively scheduled to go before the full House on Thursday for acceptance or rejection. [New York Times]
- President Ford signed a bill that would provide communities in coastal states, including those on the Great Lakes, with $1.6 billion to meet the problems of growth that may arise from offshore oil and gas development. The measure, called the Coastal Energy Impact Bill, authorizes federal financial assistance in the construction of roads, schools, hospitals, sewerage systems and water lines. [New York Times]
- Viking I has detected an atmosphere on Mars that scientists believe is "encouraging to the search for life, but by no means conclusive." The lander's atmospheric "sniffer" made the following analysis of the content of .the Martian atmosphere: carbon dioxide, 95 percent, nitrogen, 2 to 3 percent; argon 40, 1 to 2 percent and oxygen, 0.3 percent. The atmosphere of Mars is less than 1 percent the density of Earth's. [New York Times]
- Italy's Communist Party, which gained considerably more popular support in the elections last month, will now control parliamentary committees for the first time in the republic's history. With 49 more seats in the Chamber of Deputies, where a Communist was recently appointed president for the first time, the Communists now have 228, second in number only to the Christian Democrats, who have 263 of the 630 seats. Under an agreement reached by the leaders of the various political parties, Communists will chair four major committees: Finance and Treasury, Public Works, Constitutional Affairs and Transport. The Communists are also bidding for committee chairmanships in the 315-member Senate and the other parties are expected to yield to their demands. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 991.51 (+0.60, +0.06%)
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 23, 1976 | 990.91 | 104.06 | 15.87 |
| July 22, 1976 | 991.08 | 103.93 | 15.60 |
| July 21, 1976 | 989.44 | 103.82 | 18.35 |
| July 20, 1976 | 988.29 | 103.72 | 18.61 |
| July 19, 1976 | 990.83 | 104.29 | 18.20 |
| July 16, 1976 | 993.21 | 104.68 | 20.45 |
| July 15, 1976 | 997.46 | 105.20 | 20.40 |
| July 14, 1976 | 1005.16 | 105.95 | 23.84 |
| July 13, 1976 | 1006.06 | 105.67 | 27.55 |
| July 12, 1976 | 1011.21 | 105.90 | 23.75 |