News stories from Wednesday March 26, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Plans for surgery on the Shah of Iran advanced as a team of American doctors, including Dr. Michael DeBakey, the heart surgeon, flew to Cairo to prepare to remove the enlarged spleen of the deposed monarch. [New York Times]
- A fight to the convention for the Democratic presidential nomination was predicted after Senator Edward Kennedy's victories Tuesday over President Carter in New York and Connecticut. But the Senator must win more than 3 of every 5 remaining delegates, because Mr. Carter now has more than half of those he needs to win renomination. Ronald Reagan seems to be moving on a smoother path toward the Republican nomination.
Ronald Reagan could defeat President Carter in the general election in New York state, just as Senator Edward Kennedy trounced the President in the Democratic primary, top officials of the party warned.
[New York Times] - Credit curbs on consumers tightened as the Beneficial Corporation and the Bank of America, two of the nation's largest lenders to individuals, announced major cutbacks in lending policies. Beneficial said it planned to reduce outstanding loans by about 5 percent this year and that the cuts would be substantially higher in New York state, which allows relatively low credit charges. [New York Times]
- The administration may be saved from a potentially serious embarrassment. Sources said that federal prosecutors have concluded that no indictments should be brought against Carter administration aides by a grand jury investigating allegations that Robert Vesco, the fugitive financier, tried to have his legal problems fixed at the White House. Approval by the grand jury would be required for dropping any plans for indictments. [New York Times]
- Dangers to non-smokers working in a roomful of smokers were cited in a new study of more than 2,000 people. It found that the smoky air damaged the tiny air tubes and sacs in the lungs of the non-smokers. [New York Times]
- Missile-basing plans were criticized by the governors of Utah and Nevada, who declared opposition to the Pentagon's proposal to deploy 200 mobile intercontinental missiles in their states. They told Congress that the $34 billion system would create huge environmental and economic problems. [New York Times]
- Steps to help spur Britain's economy and lower the inflation rate from the present 19 percent were announced by the Conservative government. The plans call for progressively reducing public spending by 4 percent over the next four years and many other moves that the Tories said would encourage initiative. [New York Times]
- A major rift in U.S.-Jordanian ties is feared by Middle East specialists in Washington. Jordan announced that King Hussein would not go to the United States next month. The King has been one of the most pro-Western Arab leaders, but mistakes and mishaps over a visit by him have marred Jordanian-American relations for more than a year. [New York Times]
- A nuclear security indictment was returned by a federal grand jury against the Commonwealth Edison Company, the biggest nuclear utility in the nation, and two of its officials. They were charged with conspiracy and making false statements about breaches of security at the company's power plant at Cordova, Ill. [New York Times]
- Agreement on nuclear safeguards has been reached by Argentine and West German negotiators to permit construction of a heavy-water nuclear reactor in Argentina. Washington has stressed its opposition to the sale because this kind of reactor would give Argentina a source of plutonium, which can be used in producing nuclear weapons. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 762.12 (-5.71, -0.74%)
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* |
| March 25, 1980 | 767.83 | 99.19 | 43.79 |
| March 24, 1980 | 765.44 | 99.28 | 39.22 |
| March 21, 1980 | 785.15 | 102.31 | 32.22 |
| March 20, 1980 | 789.08 | 103.12 | 32.58 |
| March 19, 1980 | 800.94 | 104.31 | 36.52 |
| March 18, 1980 | 801.62 | 104.10 | 47.34 |
| March 17, 1980 | 788.65 | 102.26 | 37.01 |
| March 14, 1980 | 811.69 | 105.43 | 35.18 |
| March 13, 1980 | 809.56 | 105.62 | 33.00 |
| March 12, 1980 | 819.54 | 106.92 | 37.99 |