News stories from Wednesday November 24, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Arab military strategists from 12 nations are meeting in Cairo. President Anwar Sadat said that the next battle with Israel "will be for our existence". [CBS]
- Thousands of South Vietnamese troops stepped up their operations in Cambodia. [CBS]
- Pakistan claimed to have attacked India on five fronts and said that 200 Indians were killed. The Pakistanis stopped an Indian attack and stated that 10 Indian tanks were knocked out, compared to only two of their own. India shelled the airport at Jessore, East Pakistan, periodically. India said that its troops are permitted to cross into East Pakistan only in self-defense; India admitted crossing over once on Sunday. [CBS]
- South Vietnamese paratroopers were airlifted into a rubber plantation known to be a Communist stronghold. Another division is pushing south. Troops are en route to Cambodia with supplies and equipment, with Snoul as their primary target; they are trying to take the pressure off of Cambodian forces which are defending Phnom Penh. American helicopters with American crewmen are also in on the operation. [CBS]
- At the United Nations, Chinese Foreign Minister Chiao Kuan-hua said that the Soviet Union's plan for a world disarmament conference is unacceptable. He stated that before any conference begins, the U.S. and USSR must agree to dismantle all of their foreign nuclear bases and pledge not to be the first to use nuclear weapons. [CBS]
- Premier Ian Smith of Rhodesia and British Foreign Secretary Sir Alec Douglas-Home agreed to end six years of squabbling. [CBS]
- 10,000 workers protested unemployment in London, England, and fought with police. [CBS]
- Soviet Premier Aleksei Kosygin predicted that the USSR will surpass America's 1971 economic production in four years, and he called the U.S. economy the "sick man of the capitalist world". Kosygin accused the United States of discrimination by erecting trade barriers. [CBS]
- President Nixon named Dr. Herbert Stein to succeed Paul McCracken as chairman of the President's Council of Economic Advisers. [CBS]
- President Nixon convened a special board to recommend a 90-day back-to-work cooling off period for striking east coast and Gulf coast dockworkers. [CBS]
- The Department of Health, Education and Welfare approved New York's plan to require able-bodied welfare recipients to accept public welfare jobs, mothers included. 65,000 welfare recipients will be affected. [CBS]
- The Price Commission approved a 4.5% price increase for Chrysler, but the company said it will only raise car prices 3%. [CBS]
- President Nixon will meet with French President Georges Pompidou on December 13 and 14 in the Azores. Nixon is trying to win back old allies, and may tour western Europe in the spring before his visit to Russia; he is also thinking of visiting Canada and Japan. Those two countries have been hurt by the U.S.' 10% tax on foreign imports. [CBS]
- The White House is standing behind Earl Butz's nomination as Agriculture Secretary. [CBS]
- The AP reported that the Justice Department furnishes Attorney General John Mitchell's wife Martha with a car and driver. The law exempts cabinet members from being restricted to using government cars only for official purposes, and the Justice Department claims that it has furnished cars for the wives of Attorney Generals for the past 20 years. [CBS]
- The warden of Western State Penitentiary in Pennsylvania disclosed that one of the prison's chess players slipped away during a tournament at Carnegie Mellon University in Pittsburgh. Another convict also escaped the same way. [CBS]
- The Senate voted unanimously to restrict the dumping of wastes into the ocean outside of the U.S.' territorial jurisdiction. [CBS]
|
Stock Market Report
Dow Jones Industrial Average: 798.63 (+0.66, +0.08%)
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* |
| November 23, 1971 | 797.97 | 90.16 | 16.84 |
| November 22, 1971 | 803.15 | 90.79 | 11.39 |
| November 19, 1971 | 810.67 | 91.61 | 12.42 |
| November 18, 1971 | 815.35 | 92.13 | 13.01 |
| November 17, 1971 | 822.14 | 92.85 | 12.84 |
| November 16, 1971 | 818.71 | 92.71 | 13.30 |
| November 15, 1971 | 810.53 | 91.81 | 9.37 |
| November 12, 1971 | 812.94 | 92.12 | 14.54 |
| November 11, 1971 | 814.91 | 92.12 | 13.31 |
| November 10, 1971 | 826.15 | 93.41 | 13.41 |