News stories from Friday July 10, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A House-Senate budget conference on the $38 billion total of budget cuts was agreed to by Senate Republican leaders despite President Reagan's objection. A preference for many provisions of the Senate bill and assurances from Democratic leaders that Democrats would not be obstructive were among the reasons they decided on a conference, Senate Republicans said. [New York Times]
- Aerial spraying of the fruit fly infestation in California's produce area was reluctantly ordered by Gov. Jerry Brown as an alternative to a federal quarantine that would require fumigation of all produce leaving the state. The Governor issued the order after federal officials had imposed the quarantine. He had proposed fruit stripping and ground spraying instead of aerial spraying of the pesticide malathion, which environmenalists say would be hazardous to health. [New York Times]
- Cities are losing millions of dollars while the baseball strike goes on beyond the 363 games not played so far. In cities where the major leagues play, officials are counting losses in the tens of million dollars in lost taxes, parking fees and sales at souvenir shops, restaurants and hotels. Some cities, seeking redress for loss of revenues, are considering lawsuits against the ball clubs. [New York Times]
- Florida is going to sue the federal government over its handling of the Haitian and Cuban refugees in the Miami area. Gov. Bob Graham announced that the state had retained a Washington law firm andinstructed it "to file the lawsuit as soon as possible." The Governor did not disclose details of the state's complaint. [New York Times]
- San Francisco's worst fire in many years destroyed 25 old wooden buildings south of Market Street. It burned out of control for four hours before 145 firefighters finally contained it. No deaths were reported. [New York Times]
- Rioting erupted in a dozen English cities, including London. Policemen and firemen attempted to control thousands of frenzied black and white youths on a rampage of rioting, burning and looting. A government spokesman described the violence as by far worst since the scattered riots started a week ago, and said that in some cities "we are facing anarchy." In London, more than 250 arrests were made and more than 40 people were injured. Blazes broke out in at least six sections of the city. William Whitelaw, the Home Secretary, said he could not rule out the use of troops in situations of "extreme ferocity." [New York Times]
- Canada's Prime Minister took steps to set a mood of harmony and cooperation at this year's annual conference of the leaders of the seven major industrial democracies, which will held at Ottawa on July 20 and 21. Prime Minister Pierre Trudeau assured President Reagan in a meeting at the White House that the conference would avoid "unacceptable" criticism of each other's economic policies. The White House meeting followed a series of preliminary meetings Mr. Trudeau has had with other participants. [New York Times]
- Israel bombed Palestinian centers in southern Lebanon, the first attack by Israeli warplanes since June 2. An Israeli army spokesman said the targets included Palestinian vehicles equipped with Soviet-made rockets, and he said that some antiaircraft guns were destroyed. [New York Times]
- The way the party leader is chosen in Poland might be changed at the emergency congress of the Communist Party when it meets Tuesday. The present leader, Stanislaw Kania, is seeking re-election and he might place the issue before all the 1,964 delegates elected for the congress. If he does so, it would the first time in the Soviet bloc that a party leader sought election by the party as a whole. The party's Central Committee usually elects the party leader. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 955.67 (-3.33, -0.35%)
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 9, 1981 | 959.00 | 129.30 | 45.51 |
| July 8, 1981 | 953.48 | 128.32 | 46.00 |
| July 7, 1981 | 954.15 | 128.24 | 53.55 |
| July 6, 1981 | 949.30 | 127.37 | 44.59 |
| July 2, 1981 | 959.19 | 128.64 | 45.09 |
| July 1, 1981 | 967.66 | 129.77 | 49.07 |
| June 30, 1981 | 976.88 | 131.25 | 41.55 |
| 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 |