News stories from Thursday May 13, 1976

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

Jimmy Carter, speaking at a privately sponsored conference on nuclear energy and international order at the United Nations, called for a voluntary moratorium by all nations on the purchase or sale of nuclear fuel enrichment and reprocessing plants to help stop the spread of nuclear weapons. He said that the new Soviet-American treaty limiting the size of underground nuclear explosions for peaceful purposes was "wholly inadequate," and said "we can and should do more." [New York Times] President Ford asked Congress to adopt a mandatory four-year timetable for approving or rejecting the most extensive reform ever attempted of the government's regulatory programs and agencies, Under the four-year schedule, the White House would be required to recommend and Congress to approve or reject reform proposals for federal regulations generally affecting the economy. [New York Times] The smallest cut in the defense budget in a decade was made by the House Defense Appropriations Subcommittee as it reduced the administration's request for $106.7 billion in defense appropriations by only $800 million. The subcommittee approved a $105.9 billion bill providing $15.5 billion more in appropriations than last year. [New York Times] Democratic party officials said that Mayor Beame of New York City had decided to endorse Jimmy Carter for the nomination for president. Mr. Beame was said to have made up his mind at a meeting in New York with Mr. Carter. According to Mr. Carter's New York state chairman, William vanden Heuvel, the mayor discussed a list of urban problems with Mr. Carter and decided that as president the Georgian would be good for New York City. [New York Times] Assurances given by Secretary of State Henry Kissinger to the Senate Foreign Relations Committee that the administration would act energetically to carry out its new policy of seeking an end to white minority rule in Rhodesia were received with considerable skepticism from an otherwise sympathetic committee. Several Senate leaders told Mr. Kissinger that they doubted that President Ford would risk alienating conservatives in an election year by pressing for repeal of the Byrd amendment that allows Rhodesian chrome and nickel to be imported in violation of United Nations sanctions. [New York Times] South Africa's Secretary for Information, Eschel Rhoodie, going beyond previous public statements of Prime Minister John Vorster and other government leaders, said that the Pretoria administration foresaw no circumstances under which South Africa would intervene militarily to save the white minority Government in Rhodesia. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1001.10 (-4.57, -0.45%)
S&P Composite: 102.16 (-0.61, -0.59%)
Arms Index: 1.22

	Issues	Volume*
Advances	543	4.67
Declines	873	9.13
Unchanged	439	2.93
Total Volume		16.73

* 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*
May 12, 1976	1005.67	102.77	18.51
May 11, 1976	1006.61	102.95	23.59
May 10, 1976	1007.48	103.10	22.76
May 7, 1976	996.22	101.88	17.81
May 6, 1976	989.53	101.16	16.20
May 5, 1976	986.46	100.88	14.97
May 4, 1976	993.70	101.46	17.24
May 3, 1976	990.32	100.92	15.18
April 30, 1976	996.85	101.64	14.53
April 29, 1976	1002.13	102.13	17.74