News stories from Wednesday April 29, 1970

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

President Nixon authorized a Cambodian incursion by U.S. troops. Congress is angry and is moving to cut off funds for Cambodian operations. U.S.-equipped South Vietnamese troops and American advisers stormed across the border to hit Communist sanctuaries earlier today. [CBS] President Nixon will give an explanation for his decision on Cambodia tomorrow night. The president will emphasize the limited nature of the Cambodian operation and U.S. troop safety; there is no indication of massive arms support. Senators are grim and resent the President's action. Nixon's decision unifies Democrats and hurts Republicans. Senators introduced a bill to prohibit aid to Cambodia. [CBS] Cambodia tried ousted leader Prince Norodom Sihanouk in absentia for treason and for the murder of political prisoners. [CBS] The Swedish government repeated its antiwar feelings but apologized for insults to United States Ambassador Jerome Holland. [CBS] Soviet pilots are aiding Egypt's air defense but it is not known whether they are in combat yet. President Nixon has ordered an examination of the military balance of power in the region, and may decide to sell jets to Israel. [CBS] Mary Jo Kopechne's inquest transcript was released. Judge James Boyle concluded that Senator Edward Kennedy was negligent and contributed to Kopechne's death. The judge also said that Kennedy lied about making a wrong turn, but additional charges will not be brought. Kennedy claims he told the truth and stated that he rejects the court's findings; Kennedy says that the ultimate decision rests with the public. Although the D.A. closed the case, any Massachusetts official could reopen it within six years. [CBS] Wholesale prices dropped 0.1%, reflecting a possible decrease in inflation. But corporate tax revenue also dropped, putting the federal budget surplus in danger. [CBS] Ohio Governor James Rhodes alerted the National Guard to quell Teamster contract disputes after sniper fire hit a truck driver. [CBS] Los Angeles police broke up a plot to assassinate Judge Alfred Gitelson for ordering school desegregation. Arrests have been made and weapons seized. A paramilitary right-wing group is blamed. [CBS] Supreme Court nominee Harry Blackmun met with the Senate Judiciary Committee. Senators praised the judge and reviewed his finances, and Blackmun agreed to sell his stock. Senators are tired of defaming the character of President Nixon's Supreme Court nominees; liberals are happy now. Blackmun's approval by the committee is expected. [CBS] The Federal Civil Rights Commission charged officials in the southwest with discrimination against Mexicans, similar to actions against Southern Negroes in the 1950's. [CBS] Ohio State University students battled with police; there were 40 arrests and some injuries. The National Guard is standing by. [CBS] Yale University officials are nervous about a planned pro-Black Panther rally; now the National Guard is there too. In New Haven, students are on strike and merchants are preparing for a possible riot. Students claim they don't want violence because a violent demonstration would polarize the American people against the Panthers. The students and the university administration both support the Panthers. [CBS] Vice President Spiro Agnew researched his Hollywood, Florida, speech badly, stating false "facts" about students at the University of Kansas and Cornell University. [CBS]

Stock Market Report

Dow Jones Industrial Average: 737.39 (+13.06, +1.80%)
S&P Composite: 81.81 (+1.54, +1.92%)
Arms Index: 0.49

	Issues	Volume*
Advances	906	11.84
Declines	487	3.09
Unchanged	232	0.87
Total Volume		15.80

* 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*
April 28, 1970	724.33	80.27	12.62
April 27, 1970	735.15	81.46	10.24
April 24, 1970	747.29	82.77	10.41
April 23, 1970	750.59	83.04	11.05
April 22, 1970	762.61	84.27	10.78
April 21, 1970	772.51	85.38	8.49
April 20, 1970	775.87	85.83	8.20
April 17, 1970	775.94	85.67	10.99
April 16, 1970	775.87	85.88	10.25
April 15, 1970	782.60	86.73	9.41