News stories from Friday September 3, 1976

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

In what appeared to be a shift of political emphasis, Jimmy Carter stressed at a news conference in Plains, Ga., the need to curb inflation and to balance the budget. He said that to achieve these goals he would delay the start of "costly programs" if elected President. It was said that Mr. Carter had been influenced by his wife, Rosalynn, and other advisers who urged him to avoid the appearance of being "a big spender." [New York Times] Unemployment increased in August for the third consecutive month, the Labor Department said, forcing the administration to retreat from its long-held prediction that the jobless rate would be below 7 percent by the end of the year. The increase, to 7.9 percent, was only one-tenth of a percentage point, less than the increase in June and July, but it was a major disappointment to the White House. [New York Times] Two of three men convicted for the 1969 slayings of United Mineworkers dissident Joseph Yablonski and his wife and daughter were sentenced to life in prison. Paul Gilly, a 44-year-old house painter who recruited his accomplices, was given three concurrent life sentences. Claude Vealey, 33, who pleaded guilty and turned State's evidence, received a life term with the opportunity for earlier parole. The third defendant, Aubran Martin, 28, was scheduled to be sentenced, but he was granted a two-month delay in which to prepare a new defense. [New York Times] Viking 2 made a successful landing last night on Mars at 6:38 P.M., Eastern daylight time. A breakdown in communications relayed through the mother ship in Martian orbit prevented detailed monitoring of Viking 2's landing on the Utopia Plain. Soon after the landing, however, signals from the orbiter indicated that it had begun to receive Viking 2's photographs. [New York Times] The Soviet Union, while still feeling the pinch of last fall's crop disaster, is looking forward to a relatively abundant harvest this year that could meet domestic needs. Leonid Brezhnev, the Communist Party chief, said: "The crop of grain gladdens our hearts -- it is evident that the country will have enough grain this year." He conceded that shortages of meat, a result of distress slaughtering last fall, were continuing. [New York Times] The police in Cape Town fired tear gas canisters for the second day at groups of non-white youths who had entered the South African city despite efforts to keep them in their outlying segregated townships. [New York Times] A congressional report on the effect of the Arab boycott of American companies with business ties to Israel said that the Department of Commerce had been in collusion with some companies to uphold the boycott. Representative James Scheuer, Democrat of Brooklyn and Queens, who helped draft the report, charged that over $4 billion in American exports to Arab countries in 1974 and 1975 had been made in compliance with boycott restrictions. He said the report demonstrates that the Department of Commerce "sabotaged" United States law regarding the boycott. [New York Times] The chief accountant of France's largest privately owned aircraft manufacturer, Dassault, disappeared nearly two months ago after withdrawing $1.6 million of company money from a Paris bank, the French police said. The accountant, Herve de Vathaire, was described as a middle-aged widower and a dabbler in the occult who had begun to mix in the questionable side of Paris nightlife. His wife was said to have died in mysterious circumstances last spring. A former convict and mercenary soldier with whom the accountant was acquainted through his mistress may have had something to do with his disappearance, the police believe. This man is missing too. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 989.11 (+4.32, +0.44%)
S&P Composite: 104.30 (+0.38, +0.37%)
Arms Index: 0.67

	Issues	Volume*
Advances	835	7.78
Declines	494	3.10
Unchanged	489	2.40
Total Volume		13.28

* 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*
September 2, 1976	984.79	103.92	18.92
September 1, 1976	985.95	104.06	18.64
August 31, 1976	973.74	102.91	15.48
August 30, 1976	968.92	102.07	11.14
August 27, 1976	963.93	101.48	12.12
August 26, 1976	960.44	101.32	15.27
August 25, 1976	970.83	102.03	17.40
August 24, 1976	962.93	101.27	16.74
August 23, 1976	971.49	101.96	15.45
August 20, 1976	974.07	102.37	14.92