News stories from Thursday June 18, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The cost of living increased 0.4% in May after rising 0.6% in April. Food, homes, used cars and clothes were all more expensive than in the previous month. The Nixon administration reported hopeful signs that inflation is coming under control. [CBS]
- Treasury Secretary David Kennedy reported that President Nixon may seek tax increases next year and won't extend the income tax surcharge. [CBS]
- Communists cut Highway 1 from Phnom Penh to Saigon; the Cambodian capitol fears attack. The U.S. withdrawal deadline is in two weeks. [CBS]
- Today's 71st session of the Paris Peace Talks was fruitless. [CBS]
- The Pottstown (Pa.) Mercury newspaper printed a plea in Vietnamese to release American POWs, and asked readers to send the request to Hanoi. [CBS]
- Former Indonesian President Sukarno is ill, and reported to be in critical condition. [CBS]
- The Senate held a night session in order to untangle the Cambodian debate. The Democrats agreed to soften the Cooper-Church amendment and give the President the right to protect U.S. troops anywhere. [CBS]
- President Nixon has asked Congress to consolidate social programs and give more administrative responsibility to the states; he also called for a $260 million increase in funds for foster children. [CBS]
- The Nixon administration will increase the police power of federal anti-pollution agencies. The President has created the Environmental Protection Administration which will take control of air, water, pesticide and radiation pollution from other departments; the new department will simplify environmental protection. [CBS]
- Miami racial violence and looting continues despite curfews. [CBS]
- Mrs. Nixon entertained 1,000 children on the White House lawn; most of the kids were from inner-city Washington. Mrs. Nixon appeared relaxed. [CBS]
- British election results are closer than expected. In a possible upset, the Conservative party is gaining on the incumbent Labour party; 18-year-olds are voting for the first time. [CBS]
- A bill is on the President's desk to allow 18-year-olds to vote. Signing of the bill may greatly change U.S. voting. Kentucky and Georgia are examples of states where 18-year-olds already can vote; the system works well there. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 712.69 (+8.01, +1.14%)
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 17, 1970 | 704.68 | 76.00 | 9.87 |
| June 16, 1970 | 706.26 | 76.15 | 11.33 |
| June 15, 1970 | 687.36 | 74.38 | 6.92 |
| June 12, 1970 | 684.21 | 74.21 | 8.89 |
| June 11, 1970 | 684.42 | 74.45 | 7.77 |
| June 10, 1970 | 694.35 | 75.48 | 7.24 |
| June 9, 1970 | 700.16 | 76.25 | 7.05 |
| June 8, 1970 | 700.23 | 76.29 | 8.04 |
| June 5, 1970 | 695.03 | 76.17 | 12.45 |
| June 4, 1970 | 706.53 | 77.36 | 14.38 |