News stories from Monday June 11, 1979

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

A national health insurance plan will be proposed today by President Carter, who is expected to ask Congress for an $18 billion program that would pay every American's hospital and medical bills above $2,500 for a single illness, White House officials said. [New York Times] The Supreme Court ruled unanimously that the federal law barring discrimination against the handicapped does not require a college either to accept a student whose handicap prevents him from meeting the requirements of a particular program or to provide "extensive modifications" that would make the student's participation physically possible. [New York Times] Americans prefer gasoline rationing to scrambling for supplies or paying still higher gas prices, even though most still do not believe there is a serious oil shortage, according to the latest New York Times/CBS News Poll. The poll suggested that Congress misread the mood of the country when it rejected a standby rationing scheme. [New York Times] A jetliner was hijacked to Cuba last night but officials said the Delta Airlines wide-bodied jet, carrying 207 passengers and crew members on a flight from New York to Fort Lauderdale, Fla., landed safely at an airport near Havana. A Delta spokesman said first reports indicated that a lone hijacker entered the cockpit of the plane and demanded to be taken to Havana. The hijacking took place in the air, over Wilmington, Del. [New York Times] John Wayne, the veteran actor, died today at 5:23 P.M., Pacific daylight time, at U.C.L.A. Medical Center, a hospital spokesman said. The cause of death was given as complications from cancer. Mr. Wayne had starred in more than 200 films made over 50 years to become the greatest figure of one of America's native art forms, the western. [New York Times] Vietnam is expelling its ethnic Chinese, and collecting hundreds of millions of dollars from them before their departure, much of it to repay Soviet aid and arms sales, according to refugees and intelligence sources. Despite official denials, there is evidence that the exodus is being organized by the Hanoi government. [New York Times] Thailand has repatriated 30,000 refugees from Cambodia by force and plans to repatriate 50,000 more. A Thai military source said there was no question but that his country would "ship them all out." [New York Times] Israel has a right to build settlements in the West Bank and Gaza Strip, "since it is our land," Prime Minister Menachem Begin declared in a statement. Mr. Begin angrily denounced domestic and foreign critics of his government's settlement policy. He also vowed his administration would fulfill its promise of autonomy for the Arabs in the areas. [New York Times] A general move towards conservatism was evident in the results of the European Community's first direct elections, held in nine countries, with the right outpolling the parties of the left. But the very biggest losers in the election were two parties that have expressed hostility to the Common Market, France's Gaullists and Britain's Labor Party. [New York Times] A vow not to resign the presidency came from Gen. Anastasio Somoza of Nicaragua, who predicted he would crush the latest insurrection against his regime within two weeks. In a national news conference, General Somoza also accused Cuba of arming the rebels and Panama of abetting them by permitting arms shipment to pass through its territory. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 837.58 (+2.43, +0.29%)
S&P Composite: 101.91 (+0.42, +0.41%)
Arms Index: 0.53

	Issues	Volume*
Advances	761	16.32
Declines	687	7.87
Unchanged	440	4.08
Total Volume		28.27

* 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*
June 8, 1979	835.15	101.49	31.47
June 7, 1979	836.97	101.79	43.38
June 6, 1979	835.50	101.30	39.83
June 5, 1979	831.34	100.62	35.05
June 4, 1979	821.90	99.32	24.04
June 1, 1979	821.21	99.17	24.57
May 31, 1979	822.33	99.08	30.31
May 30, 1979	822.16	99.11	29.25
May 29, 1979	832.55	100.05	27.04
May 25, 1979	836.28	100.22	27.77