News stories from Wednesday March 28, 1979

Summaries of the stories the major media outlets considered to be of particular importance on this date:

Radiation was released in an accident at a three-month-old nuclear power plant on an island in the Susquehanna River, 11 miles south of Harrisburg. More than 12 hours after the accident occurred, officials of the Nuclear Regulatory Commission had not determined the full extent of danger from the radiation emitted into the surrounding region, but said it was not considered immediately hazardous.Doubts on the nuclear accident's cause were raised as the operators and builders of the power plant disagreed on the nature of the problem. The operators attributed the release of radiation to the failure of a valve in a pump that helped circulate water around the nuclear reactor core. The builders insisted there had been no valve failure and that there had also been no failure of either a pump or a pipe. [New York Times] Approval of President Carter rose because of his negotiating an Egyptian-Israeli peace treaty, according to the latest New York Times/CBS News Poll, but his gain was shadowed by overwhelming disapproval of his handling of the economy. He rose in public standing from 37 percent in February to 42 percent this week, but only 38 percent of respondents perceived him as a strong leader. [New York Times] Lead may damage a child's brain enough to interfere with mental functions and classroom performance even when the contamination is too mild to produce overt symptoms of illness, scientists have concluded from a study of more than 2,000 children. The report said that the higher the concentration of lead, the lower the children scored on widely used intelligence and brain-function tests. [New York Times] Higher outside income for Senators was reaffirmed by the chamber. Responding to critics of the hasty voice vote that raised the permitted limit earlier this month, members agreed to a roll call that reaffirmed the previous action by a vote of 54 to 44. [New York Times] The future of affirmative action programs may be determined in a case being argued before the Supreme Court. The issue involves Brian Weber, a white steelworker who has successfully challenged a factory training program designed to place more blacks in skilled jobs. [New York Times] Gasoline price rises of 5 to 7 cents a gallon in New York and New Jersey in the coming month were forecast by retailers as a result of price increases by the oil-exporting countries and federal rules. Bruce Ratner, New York City's Consumer Affairs Commissioner, said that a new government rule had been allowing oil companies to "tilt" refinery costs into gasoline prices and away from other oil products, effective March 1. [New York Times] Fort Dix is to be deactivated, the Pentagon decided. The action would eliminate 3,200 civilian and military jobs in New Jersey and transfer more than 6,000 recruits to other bases. New Jersey's members of Congress vowed a major fight to save Fort Dix. [New York Times] Britain's government was ousted by a margin of one vote in Parliament on a motion of no confidence in the Labor Party leadership. The dramatic vote was 311 to 310. An election is expected in late April or early May. The latest public opinion polls show the Conservatives with a comfortable lead, suggesting that Margaret Thatcher may become Britain's first woman Prime Minister. [New York Times] Arab countries were publicly divided over adopting major sanctions against Egypt and the United States to protest the Egyptian-Israeli peace treaty. Countries led by Saudi Arabia refused to go beyond minimum sanctions against Egypt approved by Arab leaders in November. Syria, Libya and the Palestine Liberation Organization walked out of the Arab League conference in Baghdad in protest. [New York Times] Egypt opposed U.S. vows to Israel in the event that Cairo violated the peace treaty. President Sadat said his government had formally objected that the American-Israeli understanding could be interpreted as an eventual alliance against Egypt. [New York Times] Three Soviet warships are in Vietnam, causing concern in Washington. The vessels dropped anchor at the Cam Ranh Bay base. Meanwhile, intelligence aides reported that the Russians had begun building a new submarine base in Cuba. [New York Times] A Soviet citizen seeking asylum blew himself up and died. The 27-year-old man with a bomb strapped to his body entered the American Embassy in Moscow, demanded to emigrate and then detonated the device after the embassy had called on the Soviet police to force him out. [New York Times] Uganda's military situation worsened as an invading force of Tanzanians and Ugandan rebels closed in on Kampala from two sides and shooting was reported in the capital. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 866.25 (-5.11, -0.59%)
S&P Composite: 102.12 (-0.36, -0.35%)
Arms Index: 1.40

	Issues	Volume*
Advances	747	14.20
Declines	786	20.92
Unchanged	389	4.80
Total Volume		39.92

* in millions of shares

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 27, 1979	871.36	102.48	32.93
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