News stories from Thursday September 11, 1980

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

Sen. Edward Kennedy will campaign on behalf of President Carter in at least half a dozen appearances this fall, it was announced after several weeks of negotiations between aides to the two men. The Massachusetts Democrat will concentrate upon key urban industrial states such as Pennsylvania, New Jersey and New York. [New York Times] More than imported cars have hurt the American automobile industry, according to a report prepared by the International Trade Commission. The staff study apparently undermines the demands being made by the United Automobile Workers and Ford that importation of foreign cars be curbed by the implementation of higher tariffs and quotas against Japanese cars. [New York Times] A politician was seen taking a bribe on a videotape played before a jury in an Abscam trial in Philadelphia. Louis Johanson, a city councilman, was seen accepting an envelope containing $25,000 from an undercover agent pretending to represent an Arab sheik interested in investing in a hotel project in Philadelphia. [New York Times] Senator Jacob Javits' loss caused problems for the four-term lawmaker, including uncertainty whether labor leaders will support his Liberal Party candidacy. Prior to the primary, they had pledged their allegiance to him. Now they are rethinking the matter. Other problems include the loss of the Republican Party apparatus, the need to raise money independently and the awkwardness of having John Anderson on the Liberal line. [New York Times] A severe drought has withered crops across a broad band of the eastern half of the nation, bringing heavy losses to farmers and rising prices to consumers. Stretching from Illinois down to Texas through Georgia and up the coastal plain to New England, it is expected to have an effect on the nation's economy beyond 1980. [New York Times] U.S. soldiers will be sent to Egypt for what will be the first overseas exercise of the Rapid Deployment Force, administration officials disclosed. According to them, Egypt has given tentative approval to the plan. The 1,400 soldiers involved would go there in November. This would be one more step toward the buildup of an American military presence in the Middle East and the Persian Gulf. [New York Times] Edmund Muskie tipped off the Soviets about the A.F.L.-C.I.O.'s plans for establishing a fund to aid the Polish strikers, the State Department disclosed. Mr. Muskie's meeting with a Soviet Embassy official occurred shortly after he had warned Lane Kirkland, the union federation's president, that the fund might be deliberately construed as an excuse by the Polish government not to honor concessions made to the workers.Mr. Muskie pointed to signs of restraint on the parts of both the Soviet Union and the United States to prevent a further deterioration in East-West relations. One recent example, the Secretary of State cited in an interview, was the crisis in Poland in which both countries avoided overt signs of involvement. [New York Times] Poland will get more food and goods from the Soviet Union, it was announced following a meeting between Leonid Brezhnev, the Soviet leader, and Poland's Deputy Prime Minister, Mieczyslaw Jagielski -- the first between top leaders of those countries since strikes by Polish workers ended and a new government came to power. No details of the trade agreement were disclosed. [New York Times] Turkey's armed forces seized power in Ankara, ousting the government of Prime Minister Suleyman Demirel, the State Department reported. Details were fragmentary, but a State Department spokesman said reports from the United States Embassy indicated that there was no violence and no danger to Americans. [New York Times] India issued a low-keyed response to the recommendations of the Senate Foreign Relations Committee and the House Foreign Affairs Committee that a scheduled shipment of 38 tons of enriched uranium not be sent to that country. A government spokesman praised President Carter for his efforts and said India expected the United States to honor a 1963 agreement which would require immediate shipment of the fuel. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 941.30 (+2.82, +0.30%)
S&P Composite: 125.66 (+0.85, +0.68%)
Arms Index: 0.74

	Issues	Volume*
Advances	989	28.64
Declines	520	11.19
Unchanged	366	4.94
Total Volume		44.77

* 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*
September 10, 1980	938.48	124.81	51.45
September 9, 1980	934.73	124.07	44.46
September 8, 1980	928.58	123.31	42.04
September 5, 1980	940.96	124.88	37.99
September 4, 1980	948.81	125.42	59.02
September 3, 1980	953.16	125.66	52.35
September 2, 1980	940.78	123.74	35.30
August 29, 1980	932.59	122.38	33.50
August 28, 1980	930.38	122.08	39.89
August 27, 1980	943.09	123.52	43.97