News stories from Tuesday March 27, 1979
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Balanced budgets were ordered by the Senate to be placed before Congress for fiscal years 1981 and 1982. An amendment instructed budget committees to report the balanced budgets, but there was no guarantee the panels would recommend their passage. [New York Times]
- Enforcement of the Voting Rights Act has led to the suspension of municipal voting in Houston and Dallas. On April 7 Houston was to hold a tax-limitation referendum and Dallas was to elect a Mayor and City Council. The balloting was called off by court order while the federal courts and the Justice Department determine whether increased power should be given to minority groups. [New York Times]
- The police may not halt a motorist at random to check a license and registration unless they believe that a law is being violated, the Supreme Court ruled. The 8 to 1 decision ends a common police practice. The majority held that an argument by Delaware that the practice led to improved highway safety was not sufficient to overcome the constitutional bar against unreasonable search and seizure. [New York Times]
- A race discrimination suit was termed moot by the Supreme Court, which quashed a court-imposed hiring quota in the Los Angeles fire department without deciding the issue of whether lower courts had the power to impose the quota. However, a narrow majority of the high court indicated approval of the department's present hiring policy, under which more than half of the firemen appointed since 1973 are blacks or Mexican-Americans. [New York Times]
- Lethal nerve gas was destroyed at the Dugway Proving Ground in Utah. Twenty-six land mines filled with the agent, left on the desert for 16 years, were demolished with explosives. The authorities said that there had been no contamination. [New York Times]
- Richard Salant will join NBC as vice chairman on April 31, the day after he retires as president of CBS News after 17 years in that post, according to sources at the two networks. In his new position, he will have general supervision over all news activities at NBC and will also be involved in general broadcast planning. [New York Times]
- Improved conditions for Palestinians have been agreed to by Israel, President Carter informed Egypt. He said that Israel would take steps to improve political conditions for Palestinians in occupied territories to help persuade them to join negotiations on Palestinian self-rule. American officials said that the steps included the ending of detention without a trial, permitting political activity and making the Israeli military government less conspicuous.
Egypt and Israel asked Congress for billions of dollars in aid they seek to carry out their peace treaty. The appeals were made directly by President Sadat and Prime Minister Begin, who took turns appearing before members of the Senate and House.
Some measures against Egypt for signing a peace treaty with Israel were agreed on by Arab League nations as they met in Baghdad. Iraq's Foreign Minister said the league would at least carry out the sanctions drawn up at a similar meeting in November, including moving league headquarters out of Cairo, suspending Egypt's membership in the organization and boycotting any Egyptian companies that might do business with Israel.
[New York Times] - An anti-Israeli bomb blast in Paris injured 32 students, most of them French and Israelis. The explosion wrecked the restaurant of a Jewish student center, and a second blast destroyed a Jewish-owned perfume shop. [New York Times]
- Unification of Yemen and South Yemen is to be discussed tomorrow by leaders of the two countries under pressure from the Arab League, which achieved a cease-fire in their conflict. A wide gulf exists between the pro-Western and Marxist regimes and chances of peace appear slim. [New York Times]
- Turkomans seeking autonomy in Iran clashed with government forces in a city near the Soviet border. A hospital official estimated the dead at 50 and the wounded at 300. [New York Times]
- Libya has threatened war on Tanzania if Tanzanian troops are not withdrawn from Uganda in 24 hours, President Julius Nyerere said in a broadcast address. The Tanzanian leader added he had rejected the ultimatum. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 871.36 (+16.54, +1.93%)
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 26, 1979 | 854.82 | 101.04 | 23.42 |
| March 23, 1979 | 859.75 | 101.60 | 33.58 |
| March 22, 1979 | 861.31 | 101.67 | 34.36 |
| March 21, 1979 | 857.76 | 101.25 | 31.12 |
| March 20, 1979 | 850.31 | 100.50 | 27.18 |
| March 19, 1979 | 857.59 | 101.06 | 34.62 |
| March 16, 1979 | 852.82 | 100.69 | 31.77 |
| March 15, 1979 | 847.02 | 99.86 | 29.37 |
| March 14, 1979 | 845.37 | 99.71 | 24.65 |
| March 13, 1979 | 846.93 | 99.84 | 31.17 |