News stories from Tuesday June 10, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The deepening leadership split In Iran led to a warning by Ayatollah Khomeini that the country was in "chaos." He said that President Abolhassan Bani-Sadr and the fundamentalist Islamic Party controlling Parliament should mend their differences to avoid a danger that the Islamic Republic might destroy itself. [New York Times]
- A new increase in the price of oil was in prospect as a result of the OPEC meeting in Algiers. An increase of about 3 cents a gallon in the retail prices of petroleum products in the United States is foreshadowed if all members of the oil cartel follow a tentative agreement reached by its ministers. But the accord apparently failed to win the support of Saudi Arabia, the largest OPEC producer. [New York Times]
- Ramsey Clark may be prosecuted for traveling to Iran in violation of a presidential ban, president Carter said he was inclined to favor the move against the former Attorney General on the ground that the trip further endangered the safety of the American hostages. Mr. Carter also told reporters said that he was reconsidering his decision not to debate Representative John Anderson, the independent presidential candidate. [New York Times]
- A large budget deficit in the next fiscal year is likely to result from the weakening of the economy and the disapproval by Congress of the oil import fee, according to private statements by senior economic officials in the Carter administration. Publicly, they have gradually stopped talking about balancing the budget and have begun stressing the aim of restraining growth in federal spending. [New York Times]
- Ronald Reagan made a medical pledge involving the issue of his age. If elected, Mr. Reagan, at 69, would be the oldest man to be inaugurated as President. In a wide-ranging interview about his health, he said he would have the White Rouse physician test him periodically and would resign if serious evidence of senility or mental deterioration were detected. [New York Times]
- Bill Brock may be replaced as chairman of the Republican National Committee despite consequent risks to Ronald Reagan's drive to promote party unity, according to Reagan campaign sources. They said that Mr. Brock, who is widely respected, would probably be offered a high post in the Reagan campaign if Mr. Reagan agrees with recommendations by his advisers to seek a new chairman. [New York Times]
- A move to bolster the Carter campaign was reported by sources in the campaign and the White House. They said that Hamilton Jordan, who has been the main campaign strategist, was expected to leave his post as the White House chief of staff to devote full time to the Carter campaign. [New York Times]
- The House censured a Representative for violating House rules by converting campaign funds to his own use. The Congressman, Charles Wilson of California, who was defeated in the Democratic primary on June 3, is the third House member to be censured in this century. [New York Times]
- The Department of Transportation notified the Ford Motor Company that there were defects in the transmission systems of 16 million of the company's automobiles. The finding, called an "initial determination," could result in a formal recall order. [New York Times]
- Radioactive krypton is to be vented into the atmosphere to enable the start of decontamination work at the crippled Three Mile Island nuclear reactor. The decision was approved unanimously by the Nuclear Regulatory Commission, which, along with a major anti-nuclear group, has said that the venting would cause no measurable health effects. [New York Times]
- Confusion about what is best to eat appears more widespread among Americans than ever before. The public has been buffeted by conflicting advice from scientists, food producers, nutritionists and the government. If you follow everything they tell you, one shopper said, "you might as well stop living or become a vegetarian." [New York Times]
- Italy's regional elections resulted in modest gains for the governing Christian Democrats, but the Communists held on to governments in some of the biggest industrial cities. [New York Times]
- New leadership in Japan is expected no matter which party wins the general elections on June 22. Prime Minister Masayoshi Ohira is hospitalized with a heart ailment and reports swept Tokyo that he may have to resign. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 863.99 (+3.32, +0.39%)
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 9, 1980 | 860.67 | 113.71 | 36.81 |
| June 6, 1980 | 861.52 | 113.20 | 37.22 |
| June 5, 1980 | 858.70 | 112.78 | 49.07 |
| June 4, 1980 | 858.02 | 112.61 | 44.17 |
| June 3, 1980 | 843.77 | 110.51 | 33.15 |
| June 2, 1980 | 847.35 | 110.76 | 32.71 |
| May 30, 1980 | 850.85 | 111.24 | 34.81 |
| May 29, 1980 | 846.25 | 110.27 | 42.00 |
| May 28, 1980 | 860.32 | 112.06 | 38.57 |
| May 27, 1980 | 857.76 | 111.40 | 40.80 |