News stories from Friday September 7, 1979

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

Plans to deploy mobile missiles in desert valleys of the West were announced by President Carter, who expressed concern about the Soviet threat to fixed-based missiles in the United States. Two hundred MX missiles -- at 95 tons the MX is the biggest ever built by this country -- would be in Western sites by 1989. [New York Times] The jobless rate rose to 6 percent in August, its highest level in more than a year, reflecting the fact that the national layoff total was nearly one million and confirming that the economy entered a recession in the spring, the Labor Department said. The department estimated that 6,149,000 million Americans were without jobs, including many auto workers, whose unemployment rate rose to 14 percent from 4 percent in May. [New York Times] Exemption of most DNA research from federal guidelines has been recommended by a national advisory committee to expand and accelerate the research, also called "gene-splicing." The committee's proposal is expected to be approved by the National Institutes of Health. [New York Times] Congress is being sued over alleged violations of the Clean Air Act. A public interest group charges that Washington's air is being polluted by emissions from the smokestacks of the Capitol's power plant, which is run by Congress and serves a complex of government buildings, including the Capitol and the Supreme Court. Congress, which has usually exempted itself from legislation it has approved, would not be vulnerable to the suit if it had not included government buildings in the Clean Air Act of 1970. [New York Times] An Italian airliner was hijacked by three gunmen, identified as Lebanese Shiite Moslems, soon after it left Beirut on a flight from Teheran to Rome. The hijackers said they wanted to call the world's attention to the disappearance of a Moslem religious leader more than year ago. When France refused a refueling stop in Nice, the plane went on to Rome, where all but 33 of the 172 passengers were released. The hijackers changed their original destination from Cuba to Teheran. [New York Times] President Carter warned Moscow that its relations with Washington would be "adversely affected" if it does not take seriously the United States concern over the presence of Soviet combat troops in Cuba. He urged the nation to remain calm and said that the administration would seek to negotiate a diplomatic resolution of the troops issue. He noted that the combat unit was "not an assault force," though its purpose was "not yet clear." [New York Times] Israel announced the arrest of 70 alleged Palestinian terrorists in the Gaza Strip, including the 19-year-old son of a prominent leftist, Dr. Haidar Abdel-Shafi, who recently met with Foreign Minister Moshe Dayan. [New York Times] Bishop Muzorewa was optimistic about solving Zimbabwe Rhodesia's problems as he departed for the constitutional conference that starts Monday in London. "We are going to succeed in solving the problems of this country once and for all," the Prime Minister said. [New York Times] A split among third-world nations at their conference in Havana seemed to have been averted when compromises were reached in disputes over Cambodia and Egypt following a night of bitter arguments between factions of third world nations. But several nations, led by Yugoslavia, India and Singapore, were furious over what they said was Cuba's "manipulation" of the triennial meeting of countries professing nonalignment. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 874.15 (+6.83, +0.79%)
S&P Composite: 107.66 (+0.81, +0.76%)
Arms Index: 0.61

	Issues	Volume*
Advances	821	20.69
Declines	595	9.19
Unchanged	450	4.48
Total Volume		34.36

* 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 6, 1979	867.32	106.85	30.36
September 5, 1979	866.13	106.40	41.65
September 4, 1979	872.61	107.44	33.35
August 31, 1979	887.63	109.32	26.37
August 30, 1979	883.70	109.02	29.28
August 29, 1979	884.90	109.02	30.81
August 28, 1979	884.64	109.02	29.43
August 27, 1979	885.41	109.14	32.06
August 24, 1979	880.20	108.60	32.73
August 23, 1979	880.38	108.63	35.72