News stories from Thursday October 28, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Heavy jobless insurance claims were again reported by the Labor Department, and both Democrats and Republicans predicted another increase in the unemployment rate. Representative Henry Reuss, the Democratic chairman of the Joint Economic Committee of Congress, said the new report signaled a national jobless rate for October of 10.5 percent, four-tenths of a percentage point above the September level. [New York Times]
- President Reagan warned voters that the Democrats were about to broadcast widely a false charge that his administration planned to reduce Social Security payments. Campaigning in the Rocky Mountains, he said the pension system had problems "that must be solved," but not at the expense of present recipients. [New York Times]
- The Middle West is viewed as crucial in Tuesday's congressional and gubernatorial elections. Both Republican and Democratic leaders agree that high unemployment and depressed farm prices in the 13-state economic heartland and the retirements of a number of Republican officeholders indicate trouble for the Republicans. [New York Times]
- Lewis Lehrman assailed G.O.P. strategy nationally, charging that the Republican campaign slogan, "Stay the course," was inadequate. Mr. Lehrman, the Republican-Conservative candidate for Governor of New York, said the Reagan administration "should be making a major effort to show clearly how we are going to rebuild the economy and create 20 million jobs in the next 10 years." [New York Times]
- Caspar Weinberger urged voters to reject resolutions calling for a freeze on nuclear weapons that will be on Election Day ballots in some states. Defense Secretary Weinberger asserted: "We think the truth is that a nuclear freeze will weaken the deterrent forces that we have to rely on to prevent war." [New York Times]
- New specialized weapons in which the heat, radiation or blast effects of a nuclear explosion could be used far more selectively than existing arms allow are foreseen by weapons planners, according to scientists and Reagan administration officials. The arms are still in the conceptual stage, but officials say that a decision to proceed with development could be made in a decade or sooner. [New York Times]
- A bipartisan protest was prompted by President Reagan's appointment of two new members to the board of the Legal Services Corporation. In a letter to Mr. Reagan, 32 Senators, including nine Republicans, expressed "grave concern" that the "recess appointments" suggested "undue political interference" with a board created to remove the agency from "political manipulation." [New York Times]
- A long-sought brain substance crucial to normal human growth has been found and artificially duplicated, scientists reported. The achievement is expected to have a major impact on studies of growth and its disorders and perhaps on the treatment of other major health problems. [New York Times]
- Female athletes have advanced dramatically in the last decade. They have broken through psychological, sociological, physical, financial and legal barriers to improve their performances greatly and shatter long-held perceptions about the role of women in sports. [New York Times]
- Spain's Socialists won a landslide victory in general elections, returning to power for the first since the 1936-39 civil war. Officials announced that the Socialists had gained a clear majority in the 350-seat Congress, and the leaders of all rival parties conceded defeat. [New York Times]
- Mass graves near Buenos Aires prompted a protest outside the presidential palace. The bodies of about 400 unidentified people have been found in 88 unmarked graves, and human rights groups linked the finding to the thousands of Argentines who vanished during the campaign against leftist guerrillas in the 1970's. [New York Times]
- The speech by Leonid Brezhnev to the Soviet military establishment Wednesday was viewed widely in Washington as a pledge by the Soviet political leadership to increase military spending in the face of new American military programs but probably by less than some Soviet military leaders may want. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 990.99 (-15.36, -1.53%)
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* |
| October 27, 1982 | 1006.35 | 135.28 | 81.66 |
| October 26, 1982 | 1006.07 | 134.48 | 102.07 |
| October 25, 1982 | 995.13 | 133.32 | 83.72 |
| October 22, 1982 | 1031.46 | 138.83 | 101.13 |
| October 21, 1982 | 1036.98 | 139.06 | 122.46 |
| October 20, 1982 | 1034.12 | 139.23 | 98.68 |
| October 19, 1982 | 1013.80 | 136.58 | 100.85 |
| October 18, 1982 | 1019.22 | 136.73 | 83.79 |
| October 15, 1982 | 993.10 | 133.57 | 80.29 |
| October 14, 1982 | 996.87 | 134.57 | 107.50 |