News stories from Thursday January 28, 1971

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

The U.S. conducted heavy air strikes in Cambodia and Laos. Five hundred planes were involved in the attempt to prevent North Vietnam from rebuilding sanctuaries during the dry season. Secretary of State Rogers pledged that U.S. operations in Cambodia will not lead to "another Vietnam." [CBS] The new leaders in Uganda released 50 political prisoners. Weapons were displayed which were supposedly secretly delivered to ousted President Obote by the Soviet Union for the purpose of creating a militia. New Ugandan leader Idi Amin declared that his country will honor all agreements signed by the former government. [CBS] President Nixon asked Congress for legislation to end the draft and to establish an all-volunteer military. He requested $1.5 billion in pay increases, and proposed extending the Selective Service Act for only two more years. [CBS] The Senate confirmed Rogers Morton as Secretary of the Interior. [CBS] Vice President Agnew visited former President Truman in a Kansas City hospital. [CBS] Three persons were killed and 51 injured in a fire in a suburb of Philadelphia. Twenty-seven homes were ruined by fire and explosions; the cause is believed to be a leaking gas main. [CBS] Former Secretary of the Interior Stewart Udall was cleared of shoplifting charges. [CBS] A federal judge in Ohio has ordered the destruction of the report on last May's incident at Kent State on the grounds that the jury compiling the report violated its oath of secrecy, and the report would prejudice the trials of those who have been indicted. [CBS] Government agents completed their training course on dealing with the nationwide wave of bombings; 1,600 agents learned to control explosives. Congress passed the Organized Crime Control Act due to an increase in bombings in the United States. [CBS] General Motors reported a 64% decrease in profits for 1970. [CBS] The federal government won a housing discrimination lawsuit involving 20,000 apartments. Blacks were channeled to predominately black apartment buildings, whites to white buildings. [CBS] The Justice Department disclosed the racial composition of the FBI: there are only 108 minority agents out of 7,910. [CBS] Secretary of Transportation Volpe announced that an expansion of the network of passenger trains, operated by a semi-public corporation, will begin on May 1. [CBS] California scientists think they have come up with an alternative to DDT. Some of the scientists believe that using bugs to kill other bugs is an effective alternative to chemical spraying because insects develop immunity to sprays. But farmers are used to spraying crops, and may be slow to change their habits. [CBS]

Stock Market Report

Dow Jones Industrial Average: 865.14 (+4.31, +0.50%)
S&P Composite: 95.21 (+0.32, +0.34%)
Arms Index: 0.71

	Issues	Volume*
Advances	838	11.66
Declines	520	5.14
Unchanged	303	2.05
Total Volume		18.85

* 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*
January 27, 1971	860.83	94.89	20.64
January 26, 1971	866.79	95.59	21.38
January 25, 1971	865.62	95.28	19.05
January 22, 1971	861.31	94.88	21.68
January 21, 1971	854.74	94.19	19.06
January 20, 1971	849.95	93.78	18.33
January 19, 1971	849.47	93.76	15.80
January 18, 1971	847.82	93.41	15.40
January 15, 1971	845.70	93.03	18.01
January 14, 1971	843.31	92.80	17.60