News stories from Tuesday October 27, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Nixon said that he will be pleased with a gain of one or two Republicans in the Senate and up to 25-30 losses in the House. The President is campaigning coast to coast and will be in Florida tonight and tomorrow; Republicans are in trouble there. [CBS]
- The economy vs. law and order is the major issue for blue-collar workers. AFL-CIO president George Meany expressed disappointment with inflation and unemployment and said that the Nixon administration is trying to fool Americans in the election. House Speaker John McCormack stated that the administration has increased the number of critical unemployment areas from six to 38, and unemployment is still rising. The Labor Department reported that five more areas now have over 6% unemployment. [CBS]
- Ecuador Air Force general Cesar Rohn Sandoval has been kidnapped; the government is rounding up political dissenters. [CBS]
- The Jordanian Army and Palestinians exchanged fire after the attempted assassination of a general.
Palestinian hijacker Leila Khaled said that she has done her duty but isn't a heroine. She stated that Israel, the government of Jordan and the United States are all enemies of the Palestinians.
[CBS] - The Army revoked General Eugene Forrester's Silver Star but stated that Forrester didn't know about the irregularities which led to the awarding of the medal. [CBS]
- The pilot of the plane carrying two American generals said that wind blew the plane off course into the USSR; the officers are still being held by the Soviets. [CBS]
- A Soviet plane with four people on board was hijacked to Sinop, Turkey. [CBS]
- The Soviet Union reported that their unmanned lunar craft has been recovered in the Indian Ocean. [CBS]
- Two synagogues were bombed in Rochester, New York. Police said it was an amateurish job but there was major property damage. [CBS]
- There was a bomb threat at the Little Rock, Arkansas, federal building; Rep. Wilbur Mills and Senator John McClellan were in the building at the time. McClellan was a sponsor of the organized crime bill. [CBS]
- President Nixon signed the Drug Abuse Control Bill which stiffens penalties for pushers but lessens those for users; the bill includes the "no-knock" clause. [CBS]
- LSD advocate Timothy Leary has been expelled from Beirut, Lebanon; he wanted to see Palestinian guerrilla bases. [CBS]
- In Atlanta, 100 fight fans were robbed at a party following the Muhammad Ali-Jerry Quarry match. Armed men got $200,000 from the party guests; a New York detective lost money and his badge. [CBS]
- The Conservative British government reduced welfare benefits and will lower taxes next year; the Labor Party opposes the move. [CBS]
- Democratic Senate candidate Lawton Chiles is walking 1,000 miles through Florida, talking to people. It's a good political gimmick. Chiles says that he doesn't have money for television ads, though some ads are running. Republican candidate Rep. William Cramer predicts victory; he is running a "law and order" campaign. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 754.45 (-1.98, -0.26%)
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 26, 1970 | 756.43 | 83.31 | 9.20 |
| October 23, 1970 | 759.38 | 83.77 | 10.27 |
| October 22, 1970 | 757.87 | 83.28 | 9.00 |
| October 21, 1970 | 759.65 | 83.66 | 11.33 |
| October 20, 1970 | 758.83 | 83.64 | 10.63 |
| October 19, 1970 | 756.50 | 83.15 | 9.89 |
| October 16, 1970 | 763.35 | 84.28 | 11.30 |
| October 15, 1970 | 767.87 | 84.65 | 11.25 |
| October 14, 1970 | 762.73 | 84.19 | 9.92 |
| October 13, 1970 | 760.06 | 84.06 | 9.50 |