News stories from Wednesday October 8, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iranian attacks on foreign cargo ships were reported by survivors who managed to swim to Iraqi lines. They said that Iranian troops entrenched in an oil port under Iraqi attack had shelled and set aflame at least five of the vessels, sinking three of them. At least 20 crewmen were reported killed. Three Iranian planes attacked Baghdad, setting off large fires in the Iraqi capital. [New York Times]
- North Korea is supplying Iran with military and medical equipment, Treasury Secretary William Miller said. He asserted that Teheran was bringing in the supplies in military cargo versions of the Boeing 747. He also said that three Persian Gulf oil producers had joined Saudi Arabia in deciding to increase production to compensate for the cutoff in Iranian and Iraqi oil exports. [New York Times]
- A tight presidential contest in Texas is now in prospect. The state is considered vital for President Carter because no Democrat has won the presidency in this century without carrying Texas. The Carter campaign chief predicts that the outcome "will be a cliffhanger," and the latest New York Times/ CBS News Poll showed that the race with Ronald Reagan was now a virtual dead heat after earlier surveys by both campaigns showed the state leaning toward Mr. Reagan. [New York Times]
- A more moderate Reagan image is being projected by the Republican's campaign on such issues as labor, social welfare, the economy and military matters. A campaign flyer that is to be distributed in the Middle West strongly modifies his criticism of federal safety rules in the workplace and renounces his proposal that unions be made subject to antitrust laws. [New York Times]
- A potential Carter campaign dilemma has been posed by the Pentagon, according to government officials. They said that President Carter had been presented with a preliminary budget estimate that is $11 billion higher than the White House guidelines for military spending set last spring. [New York Times]
- Videotapes led to the conviction of Representative John Jenrette, according to several members of the jury that found him guilty of bribery and conspiracy. They said the tapes were decisive in the panel's rejection of contentions by the South Carolina Democrat that he had commited a crime because of fear of "mobsters," the consumption of liquor and improper government conduct. [New York Times]
- The mystery of toxic shock syndrome is being explored intensively by medical researchers at the federal Center for Disease Control in Atlanta. Officials report that cases of the sometimes fatal ailment, which primarily strikes women using tampons, are being reported to the center at a rate of 20 to 25 a week. [New York Times]
- Cleveland got out of financial default 22 months after it became unable to repay its debts. Officials said that the city could now move to solve some of the deficencies in municipal services, but some residents expressed doubt about major improvements. [New York Times]
- France sought to rebut criticism that it had not reacted strongly enough to the fatal bombing last Friday at a Jewish temple in Paris. President Valery Giscard d'Estaing, in a televised address, said he was instructing local officials to discuss security problems with religious leaders. [New York Times]
- Major antiquities have been found, ac cording to Greek officials and archeologists. They said that they had located Roman ships that were wrecked in the year 31 B.C. during the historic battle of Actium between the forces of the Emperor Octavian and of Antony and Cleopatra. [New York Times]
- Syria and the Soviet signed a treaty of friendship over 20 years similar to ones that Moscow has with Iraq and Southern Yemen. The pact provides for consultations if Syria's security is thought to be threatened.
Afghans face a long Soviet occupation, in the view of Asian and Western intelligence sources, who also believe that more Soviet troops will join the 90,000 already in Afghanistan. As evidence, the sources cite heavy Soviet investments, including a new oil pipeline and fuel storage depots.
[New York Times]
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Stock Market Report
Dow Jones Industrial Average: 963.99 (+3.32, +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* |
| October 7, 1980 | 960.67 | 131.00 | 50.31 |
| October 6, 1980 | 965.70 | 131.73 | 50.12 |
| October 3, 1980 | 950.68 | 129.33 | 47.50 |
| October 2, 1980 | 942.24 | 128.09 | 46.16 |
| October 1, 1980 | 939.42 | 127.13 | 48.71 |
| September 30, 1980 | 932.42 | 125.46 | 40.29 |
| September 29, 1980 | 921.93 | 123.54 | 46.40 |
| September 26, 1980 | 940.10 | 126.35 | 49.43 |
| September 25, 1980 | 955.97 | 128.72 | 49.51 |
| September 24, 1980 | 964.76 | 130.37 | 56.86 |