News stories from Friday June 26, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Reagan won another victory for his economic program when the House adopted a Republican package of budget cuts opposed by the Democratic leadership. As it did Thursday, when the parliamentary framework was set for adoption of the Reagan budget cuts in a single package, a coalition of Republicans and conservative Democrats took the initiative from the Democratic majority and prevailed in a 217-to-211 vote. A total of 29 Democrats supported the Republicans. [New York Times]
- A return to sugar price support loans will no longer be opposed by the Reagan administration in return for the support of Southern Democrats from sugar-producing states. Farm bills reported out by the Senate and House agriculture committees call for a return to sugar price support loan program that would have the effect of propping up raw cane sugar prices to 19.6 cents per pound, almost four cents per pound more than this week's free market prices. [New York Times]
- Sun Myung Moon faces deportation, according to a Justice Department official. The official said the government would probably begin deportation proceedings this summer against Mr. Moon, a Korean who founded the Unification Church, on the basis of an investigation that indicated that he and his wife had violated federal immigration rules. Immigration authorities said that many members of the Church had apparently entered the United States illegally. [New York Times]
- Property settlements in divorces may not include military pension benefits, the Supreme Court ruled in a 6-to-3 decision. Writing for the majority, Justice Harry Blackmun said that Congress had decided that it was in the nation's military interest to preserve military pensions as the service member's "personal entitlement," which is not subject to being shared. The Court has been asked to decide whether divorced people with private pensions could be forced to share the benefits as community property. [New York Times]
- U.S. foreign policy on Angola and Libya is of deep concern to American corporations that have highly profitable operations in the two oil-producing and strategically important nations. In both countries, the Reagan administration is moving to isolate regimes it considers disruptive. The companies are resisting administration policy to protect their considerable investments in both countries. [New York Times]
- A relentless drive against dissidents In Iran was urged by a close aid of Ayatollah Khomeini. Hojatolislam Ali Khameini, Teheran's spiritual leader, called on Iran's courts to continue making the "resolute decisions" that resulted in the execution of about 50 people this week. Shortly after he spoke at an open-air prayer ceremony, eight more Iranians were executed in northwestern Iran. [New York Times]
- An accord on Palestinian autonomy with Israel by the end of the year is wanted by President Anwar Sadat of Egypt. In an interview in a Cairo newspaper, the semiofficial al Ahram, he made it clear that he would go ahead with the Egyptian-Israeli peace treaty process, although he is said to be furious over the Israeli bombing of an Iraqi nuclear reactor. He also said in the interview that his meeting in Washington with President Reagan in August will mark a new phase in the Middle East peace negotiations. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 992.87 (-3.90, -0.39%)
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* |
| June 25, 1981 | 996.77 | 132.81 | 43.91 |
| June 24, 1981 | 999.33 | 132.66 | 46.65 |
| June 23, 1981 | 1006.66 | 133.35 | 51.84 |
| June 22, 1981 | 994.20 | 131.95 | 41.79 |
| June 19, 1981 | 996.19 | 132.27 | 46.42 |
| June 18, 1981 | 995.15 | 131.64 | 48.40 |
| June 17, 1981 | 1006.56 | 133.32 | 55.47 |
| June 16, 1981 | 1003.33 | 132.15 | 57.77 |
| June 15, 1981 | 1011.99 | 133.61 | 63.34 |
| June 12, 1981 | 1006.28 | 133.49 | 60.79 |