News stories from Monday October 18, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Jimmy Carter's campaign aides in New York have begun linking him with the fate of New York City and to the coattails of local candidates across the state. Obviously concerned over the Democrat's apparent slippage in the state, the Carter organization has put out brochures with a headline saying the Democratic ticket would never tell the city to "drop dead" -- a reference to a Daily News newspaper headline: "Ford to City: Drop Dead," published last year. [New York Times]
- An important ruling on sex discrimination may emerge from the Supreme Court's decision to decide whether Philadelphia may have separate public high schools for boys and girls. Five years ago, the Court ruled that a woman-only policy at a South Carolina public college was not unconstitutional. [New York Times]
- After clarifying his remarks about Israel, Iran and Britain, Gen. George Brown was supported as Chairman of the Joint Chiefs of Staff by President Ford and the Secretary of Defense. Speaking at a news conference, General Brown said that he supported Israel, thought the Shah of Iran was doing a good job of leading his country and said he had spoken out of "compassion" when he said Britain and its military forces were "pathetic." [New York Times]
- A 10 percent increase in the price of oil will probably be approved by the members of the Organization of Petroleum Exporting Countries in December, according to the majority of experts gathered for an international conference on energy. The experts also seemed to think that a 15 percent increase was not unlikely and that even a 20 percent hike could result from the OPEC meeting. [New York Times]
- Stock prices rose sharply as the Dow Jones industrial average gained 9.56 points to close at 946.56. The credit markets seemed to have second thoughts about the near-term outlook for interest rates. [New York Times]
- A peace plan for Lebanon was signed by six Arab leaders in Saudi Arabia, calling for a cease-fire to take effect Thursday and a 30,000-man Arab force to supervise the withdrawal of the warring Lebanese factions. The agreement requires the opponents in the civil war to pull back to the positions they held in April 1975, but it leaves unclear whether Syrian forces in Lebanon will be withdrawn or become part of the peace-keeping force. [New York Times]
- Mao Tse-tung's widow was accused of trying to kill the Chairman while he was on his deathbed, according to a wall poster that appeared on the campus of Peking University. The poster also indicated that there had been an argument among Chinese leaders over what to do with Mao's body, with the leftists allegedly opposing its preservation. [New York Times]
- Apartheid has eased under his government, according to Prime Minister John Vorster of South Africa, but he also said he could not foresee a time when blacks would gain control of the country. In an interview, Mr. Vorster said blacks would continue to he excluded from the mainstream of political life. He added, however, that discriminatory laws that did not serve to prevent racial friction would be scrapped. [New York Times]
- Fifty-nine reports from companies that had been asked to comply with the Arab boycott of Israel were made public by the Commerce Department. The reports were all filed with the department after Oct. 6. None of the reports said the companies involved would refuse to comply with the boycott's provisions. [New York Times]
- Faced with growing dissent inside his party, Enrico Berlinger, the Italian Communist Party leader, said that the party must help keep the Christian Democrats in power to prevent the economic collapse of Italy. The party's rank and file have been unhappy at the party's decision to abstain from crucial parliamentary votes and allow the government to stay in office. [New York Times]
- Three more American scientists have been awarded Nobel Prizes. Sweden's Royal Academy announced that Prof. Burton Richter of Stanford University and Prof. Samuel C. Ting of M.I.T. would share the physics prize for their separate discoveries of a new elemental particle. Prof. William Liscomb of Harvard was awarded the chemistry prize for his work on the structure and bonding mechanisms of boranes. [New York Times]
- Europe's weaker currencies may not be helped very much by the revaluation of the West German mark, according to many of the continent's leading bankers. Most of the experts said the main importance of the move would be to buy time for the joint European currency float, which they see as the symbol of Europe's hopes to some day have a common currency. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 946.56 (+9.56, +1.02%)
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 15, 1976 | 937.00 | 100.88 | 16.21 |
| October 14, 1976 | 935.92 | 100.85 | 18.61 |
| October 13, 1976 | 948.30 | 102.12 | 21.69 |
| October 12, 1976 | 932.35 | 100.81 | 18.21 |
| October 11, 1976 | 940.82 | 101.64 | 14.62 |
| October 8, 1976 | 952.38 | 102.56 | 16.74 |
| October 7, 1976 | 965.09 | 103.54 | 19.83 |
| October 6, 1976 | 959.69 | 102.97 | 20.87 |
| October 5, 1976 | 966.75 | 103.23 | 19.20 |
| October 4, 1976 | 977.98 | 104.03 | 12.63 |