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Thursday June 10, 1982
. . . where the 1970s live forever!

News stories from Thursday June 10, 1982


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

  • The President won a budget victory in the House. Rebuffing the Democratic leadership, the representatives ended a long deadlock and voted 219 to 208 for a conservative budget that calls for the largest peacetime increase in military spending at the expense of social programs. [New York Times]
  • An intelligence agents' protection bill won final congressional approval as the Senate passed it by a vote of 81 to 4. President Reagan is expected to sign the measure, which would make disclosure of the names of covert American agents a crime. [New York Times]
  • A compromise mortgage subsidy bill was agreed on by House and Senate negotiators in an effort to aid the troubled housing construction industry. The House and Senate overwhemlingly approved orginal versions of the three-year, $3 billion program, but the measure faces a likely veto by Presi-dent Reagan. [New York Times]
  • "Massive congestion" could occur in New York City tomorrow, according to Police Commissioner Robert McGuire. Many thousands of demonstrators are expected to converge on midtown Manhattan for a series of marches and a rally organized to protest nuclear arms. [New York Times]
  • Outskirts of Beirut were attacked by Israeli planes and gunboats. Israel dropped leaflets over the capital, warning that it would capture the city soon. The leaflets offered Syrian forces two safe routes from the capital, and asserted that resistance would be "tantamount to suicide." [New York Times]
  • Israel reported more heavy combat on the ground and in the air with Syrian forces in Lebanon. But for the first time since the Israelis' invasion Sunday, they expressed a willingness to accept a cease-fire. [New York Times]
  • Israel has 85,000 troops in Lebanon and seeks to seize Beirut and the Beirut-Damascus road, according to Syria's Information Minister. In an interview, he affirmed that Syrian troops would keep fighting in Lebanon "for our Palestinian and Lebanese brothers and for our basic national security, which is threatened by the Israeli invasion." [New York Times]
  • A tougher U.S. tone toward Israel was reported by senior officials of the Reagan Administration. They said that President Reagan had sent a "firm" message to Prime Minister Menachem Begin calling for Israeli forces to halt the fighting in Lebanon and prepare to withdraw. [New York Times]
  • Arab ambassadors expressed anger over the United States's "silence" on Israel's invasion of Lebanon. A spokesman for four Arab envoys said that the protest had been delivered to Vice President Bush. [New York Times]
  • A halt in Iraqi military action in Iran was announced by Baghdad radio. A military communique said Iraq hoped to withdraw all its troops from Iran and to use its forces against Israel. Iran rejected a truce. [New York Times]
  • Up to 50 British servicemen may have been killed in Argentine air attacks on landing craft in the Falklands Tuesday, according to military sources in London. They called the attacks the most serious setback for Britain in the month-long conflict. [New York Times]
  • "Heavy" British casualties in two sectors of the Falklands were reported by an Argentine spokesman. He reported the success of Argentine aerial attacks in the Mount Kent area west of Stanley and Port Fitzroy, 17 miles to the south where the British suffered severe losses Tuesday. [New York Times]
  • A major nuclear arms protest drew at least 200,000 young people to Bonn. On a holiday, they clustered on grassy fields beside the Rhine and heard speakers call for peace and denounce NATO's plan to deploy new nuclear weapons in Western Europe. [New York Times]
  • NATO pledged to seek arms talks with the Soviet Union. Leaders of the 16-nation alliance, meeting in Bonn, endorsed President Reagan's proposals to negotiate to remove all medium-range missiles from European and Soviet soil and to reduce by one-third the American and Soviet inventories of nuclear warheads. [New York Times]
  • The oldest ancestor to man yet known lived four million years ago, according to University of California scientists who have examined fossil bones discovered in Ethiopia. They identified the bones as those of an ape-man who walked on two feet and had a small brain. The bones were 400,000 years older than a famed skeleton found in 1974. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 798.71 (+3.14, +0.39%)
S&P Composite: 109.61 (+0.62, +0.57%)
Arms Index: 0.67

IssuesVolume*
Advances74727.70
Declines64215.93
Unchanged4637.32
Total Volume50.95
* 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
DateDJIAS&PVolume*
June 9, 1982795.57108.9955.77
June 8, 1982802.23109.6346.82
June 7, 1982804.03110.1244.63
June 4, 1982804.98110.0944.11
June 3, 1982816.50111.8648.45
June 2, 1982816.88112.0449.22
June 1, 1982814.97111.6841.65
May 28, 1982819.54111.8843.89
May 27, 1982824.96112.6644.73
May 26, 1982828.77113.1151.25


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