News stories from Tuesday November 10, 1981

Summaries of the stories the major media outlets considered to be of particular importance on this date:

The gloomiest economic assessment to date was made by President Reagan at his news conference. He agreed that "we're going to have some hard times ahead for the next few months," but he predicted a rebound from the recession in the spring, or early summer at the latest. Mr. Reagan also said he would defer until next year a proposal he made six weeks ago to reduce federal benefit programs. [New York Times] Prices at various stages of production ebbed again in October, according to the Labor Department. It said the Producer Price Index for finished goods, ready for sale to consumers, rose six-tenths of 1 percent. [New York Times] A finding involving William J. Casey was rescinded by a federal judge in Manhattan. He said that Mr. Casey, now the Director of Central Intelligence, had provided new information about his earlier role in a farming company involved in an investor dispute and that, as a result, he was withdrawing his conclusion that Mr. Casey had knowingly taken part in a financial offering that "omitted and misrepresented facts." [New York Times] An effort to oust Hyman Rickover as the Navy's chief nuclear officer is being fought by Representative Samuel Stratton and Senator Henry Jackson, who are seeking support from other legislators to retain the 81-year-old admiral. [New York Times] Space officials began the countdown for the second flight of the space shuttle Columbia, and the two astronauts returned to Cape Canaveral, Fla., to prepare for the launching that is now scheduled for Thursday morning. All preparations were said to be proceeding smoothly. [New York Times] The peanut aid program was saved by Southern legislators after nearly two hours of wrangling in a House-Senate conference. [New York Times] Thomas Kean claimed victory as the new Republican Governor of New Jersey as the latest tally showed him 1,677 votes ahead of Representative James Florio, his Democratic opponent. Mr. Florio said through his campaign office that it was "presumptuous" of Mr. Kean to declare victory "given the fact the unofficial margin is seven-tenths of 1 percent and a recount is likely." [New York Times] An interim detention center for aliens, including about 2,700 Haitians who have entered the United States illegally, will be the Fort Drum Army base in upstate New York, the White House announced. The Haitian immigrants are now being held in 17 centers around the country. [New York Times] The fears of older people that they are the most likely victims of crime are not supported by national statistics, according to a study prepared for the Justice Department. The study suggested that police departments should try to improve overall performance rather than provide special services for the elderly. [New York Times] No plans to send troops to El Salvador to combat leftist insurgents have been developed by the administration, according to President Reagan. At his news conference, he reaffirmed his belief that the use of tactical nuclear weapons would not necessarily lead to an all-out nuclear war. [New York Times] U.S. praise for a Saudi peace plan for the Middle East was renewed by President Reagan at a news conference. Israel has totally rejected the proposal as imperiling its existence. [New York Times] The leader of Libyan troops in Chad asserted that civil war would resume in that country when his soldiers complete their withdrawal and are replaced by an African peacekeeping force. The evacuation began last week after the Chadian government requested the departure of the Libyans, who arrived nearly a year ago to intervene in a civil war. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 853.98 (-1.23, -0.14%)
S&P Composite: 122.70 (-0.59, -0.48%)
Arms Index: 1.12

	Issues	Volume*
Advances	833	23.92
Declines	733	23.54
Unchanged	371	6.48
Total Volume		53.94

* in millions of shares

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*
November 9, 1981	855.21	123.29	48.30
November 6, 1981	852.45	122.67	43.26
November 5, 1981	859.11	123.54	50.86
November 4, 1981	866.82	124.74	53.47
November 3, 1981	868.72	124.80	54.62
November 2, 1981	866.82	124.20	65.12
October 30, 1981	852.55	121.89	58.56
October 29, 1981	832.95	119.06	40.07
October 28, 1981	837.61	119.45	48.10
October 27, 1981	838.38	119.29	53.03