News stories from Tuesday August 5, 1980

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

The United States freed 190 Iranians after they had been jailed for 10 days. The Iranians were initially charged with disorderly conduct after being arrested during pro-Khomeini demonstrations in Washington. They were then held at a federal prison in New York state while the authorities investigated them on suspicion of immigration violations. [New York Times] The Carter campaign yielded to demands by forces of Senator Edward Kennedy for debates of the Democratic platform and convention rules in prime television time next week, and in return won a pledge for a party "united behind our nominees" after the convention. But the statement on unity appeared to be qualified later by Senator Kennedy and his aides. [New York Times] The President won praise in the Senate from members of the panel investigating the Billy Carter controversy, but they agreed to press the inquiry to resolve questions raised by President Carter at his news conference and the extensive report he made public Monday. Both Democrats and Republicans on the panel also agreed that it might to necessary to ask the President to appear before the panel to answer questions.Many questions in the Billy Carter case remained unresolved despite the Carter administration's efforts Monday to mute the debate over ties by the President's brother to Libya and the administration's handling of the controversy. Top White House aides amplified information contained in the report released by the President. [New York Times] Ronald Reagan pleaded with blacks to put aside prejudices they might have against him as a "caricatured conservative" and support his Republican candidacy for President. He spoke at the annual convention of the National Urban League. [New York Times] Violence in public housing projects has become a daily fact of life. As in other complexes around the country, the 25,000 residents of the nation's largest complex, in Chicago, are gripped by fear and unemployment and threatened by a resurgence of youth gangs. The violence has spread increasingly beyond the complexes into broader racial confrontations engulfing entire neighborhoods. [New York Times] Guidelines on bilingual education were revised by the Department of Education. Under the proposed new guidelines, such education must be provided to public school children who have limited proficiency in English. The guidelines also set out a procedure for determining who is eligible. [New York Times] Payments for "black lung" victims were challenged by government investigators. They estimated that coal miners and their families had received $312.9 million in disability or death payments for claims that were not supported by adequate medical evidence in 88.5 percent of the cases. [New York Times] A major Caribbean hurricane advanced toward Jamaica with 170-miles-an-hour winds. Forecasters said that the storm could threaten the United States early next week. [New York Times] Israel sought to encourage Egypt to resume the negotiations on Palestinian autonomy. However, sketchy reports of a message drafted for President Sadat said it did not signal a retreat from Israel's formal affirmation that 'united Jerusalem' was Israel's capital -- the new law that prompted the Egyptian leader to cancel the talks. [New York Times] A government scandal in Zimbabwe could result from the killing of a 68-year-old white farm manager. A senior cabinet minister in the new black government was questioned by the police, who took a pistol from him after he and several associates had been surrounded in a siege of a downtown Salisbury apartment building. An unconfirmed report said that the farm manager was slain when the minister and his associates went to a farm outside Salisbury to pursue a feud with a guard unit there. [New York Times] The sale of five Boeing jets to Iraq may be approved by the Carter administration. Officials said that such an authorization was being considered even though Iraq is listed by Washington as a country that provides support for international terrorism. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 929.78 (-1.28, -0.14%)
S&P Composite: 120.74 (-0.24, -0.20%)
Arms Index: 0.97

	Issues	Volume*
Advances	825	21.00
Declines	702	17.39
Unchanged	389	7.12
Total Volume		45.51

* 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*
August 4, 1980	931.06	120.98	41.57
August 1, 1980	931.48	121.21	46.43
July 31, 1980	935.32	121.67	54.60
July 30, 1980	936.18	122.23	58.06
July 29, 1980	931.91	122.40	44.84
July 28, 1980	925.43	121.43	35.33
July 25, 1980	918.09	120.78	36.25
July 24, 1980	926.11	121.79	42.42
July 23, 1980	928.58	121.93	45.90
July 22, 1980	927.30	122.19	52.23