News stories from Friday March 9, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Intensive talks continued between President Carter and President Anwar Sadat on several unresolved issues in the Israeli-Egyptian treaty negotiations. The two leaders went by train from Cairo to Alexandria, where a state dinner was scheduled. Huge crowds cheered them on the 120-mile ride. Mr. Sadat told reporters that "only a word here, a word there" had to be changed in the treaty draft, and that he was on the "verge of an agreement." [New York Times]
- Employment was up sharply in February while the unemployment rate was essentially stable, the Bureau of Labor Statistics reported. The jobless rate declined to 5.7 percent of the total work force from 5.8 percent in January, and was the lowest rate in four years. [New York Times]
- A federal judge temporarily restrained a magazine from publishing an article that the government said describes "how a hydrogen bomb works." The magazine, The Progressive, argued that the First Amendment prevented "prior restraint" against publication. But Judge Robert Warren ruled in Milwaukee that such a guarantee was "not absolute and unlimited." [New York Times]
- A big step toward a common clergy for 10 major Protestant denominations was taken in Cincinnati at the 14th plenary session of the Consultation on Church Union. Virtual approval to the document on the ordained ministry that would provide the basis for a common clergy was given by representatives of the churches. The document was sent back to the preparation commission with instructions to "re-edit" parts of it, "with the hope and expectation" that it will be affirmed at a special session in January 1980. [New York Times]
- A 9 percent rise in residential electric bills will come soon, Consolidated Edison said, unless it got relief from clean air standards that requires it to use increasingly scarce and expensive fuel oil with a low sulfur content. The statement was made at a hearing called by New York state to determine whether President Carter should be asked to declare an energy emergency in New York. [New York Times]
- A constitutional case over abortion is developing in New Jersey's state Superior Court between a 30-year-old nurse and the hospital that transferred her from its maternity wing when she told her supervisors that she could no longer participate in abortion cases. The nurse, Beverly Jeczalik, contends that the reassignment amounts to unconstitutional discrimination against her religious beliefs. [New York Times]
- Tanzanian troops were near Kampala, Uganda's capital, diplomatic sources in Nairobi said, but Uganda was still reporting that the invasion was being turned back. Several thousand Ugandan dissidents were reported to have joined the Tanzanians. A diplomatic source said that "nobody has seen the Ugandan army, either in an offensive or defensive position" and that "there is not a single Ugandan soldier in evidence south of Kampala." [New York Times]
- Yemen will receive $390 million in arms under an administration plan that relies on emergency legislation to bypass Congress. According to administration officials, the plan is a "cooperative venture" with Saudi Arabia, which is Yemen's principal backer. The arms will include tanks and F-5 fighter planes and will be delivered over the next two weeks. [New York Times]
- Prime Minister Bazargan's offer to resign was rejected by Ayatollah Khomeini, a source close to Mr. Bazargan said. The Prime Minister reportedly agreed to stay on the condition that the Ayatollah refrain from publicly criticizing his administration, as he had been doing recently. [New York Times]
- A former South African information official withdrew his threat to sell documents and tape recordings relating to an influence buying scandal to European and American newspapers and television stations. The change of mind by Eschel Rhoodie, a key figure in the scandal, reportedly followed a promise of employment in a foreign country by a South African who said he wanted to save his country. [New York Times]
- The clearest illustration of a principle enunciated in 1849 by a French mathematician-astronomer might be this week's discovery that a ring of rocky debris orbits Jupiter inside its inner most moon. Another photograph of Jupiter by Voyager I showed a vast Jovian aurora. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 842.86 (-1.99, -0.24%)
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 8, 1979 | 844.85 | 99.58 | 32.00 |
| March 7, 1979 | 834.29 | 98.44 | 28.94 |
| March 6, 1979 | 826.58 | 97.87 | 24.50 |
| March 5, 1979 | 827.36 | 98.06 | 25.96 |
| March 2, 1979 | 815.75 | 96.97 | 23.13 |
| March 1, 1979 | 815.84 | 96.90 | 23.84 |
| February 28, 1979 | 808.82 | 96.28 | 25.09 |
| February 27, 1979 | 807.00 | 96.13 | 31.47 |
| February 26, 1979 | 821.12 | 97.67 | 22.62 |
| February 23, 1979 | 823.28 | 97.78 | 22.75 |