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Friday November 2, 1979
. . . where the 1970s live forever!

News stories from Friday November 2, 1979


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

  • The unemployment rate rose slightly in October, but economists said that the latest government figures suggested that the economy was still not in the expected recession. The jobless rate rose to 6 percent of the work force, as against 5.8 percent in September, the Bureau of Labor Statistics reported, reflecting layoffs among industrial workers, especially blacks. [New York Times]
  • A malfunction in cooling systems is not so likely in nuclear reactors as staff experts of the Nuclear Regulatory Commission had thought earlier this week. Staff experts said that new information from uranium fuel suppliers indicated that the emergency core cooling systems in the reactors would function as previously predicted. [New York Times]
  • A gun lobby is seeking to defeat Senator Edward Kennedy's candidacy for President because of his sponsorship of gun control legislation. While the National Rifle Association is attempting to rally gun owners against Senator Kennedy, Handgun Control Inc., an anti-gun lobby endorsed by the Senator, is soliciting funds for the establishment of the first national political action committee against the rifle association's lobbying. [New York Times]
  • A national black political convention in February in an as yet unnamed black-led city is planned by the National Black Leadership Forum as means of putting pressure on the Democratic and Republican presidential candidates to support black interest issues. Preparations are being coordinated by Mayor Richard Hatcher of Gary, Ind. and the staff of the Congressional Black Caucus. [New York Times]
  • Senator Edward Kennedy raised nuclear safety as a campaign issue and attacked President Carter for offering the nation "counsels of defeat and despair" instead of effective leadership. He made the remarks in an address at the annual Jefferson-Jackson Day dinner of the Democratic Party In West Virginia, where John F. Kennedy won an important primary election victory in his presidential campaign. [New York Times]
  • Henry Kissinger offered the F.B.I. help when he was teaching at Harvard University in the early 1950's, according to an internal memorandum of the Federal Bureau of Investigation. The document was obtained under the Freedom of Information Act by a Columbia University professor who is doing research for a study on relations between the F.B.I. and American universities during the so-called McCarthy period. [New York Times]
  • Joanne Chesimard escaped from a women's prison in Clinton, N.J.. with the aid of four men and a woman who pretended they were going to visit Miss Chesimard, a leader of the militant Black Liberation Army, who was serving a life sentence in addition to 65 years for murder and assault. [New York Times]
  • Bolivia's cities were paralyzed by a general strike protesting the military takeover on Thursday from the country's first civilian government in more than a decade, and the military leaders declared a state of siege.

    Aid to Bolivia was suspended by the United States in retaliation for the military takeover that usurped the civilian government. The suspension of military and economic aid was recommended by the American ambassador in La Paz, Paul Boeker, who reportedly said that a strong show of disfavor could help reverse the coup. [New York Times]

  • The Park regime's main critic called for the direct election of a new President of South Korea and urged the United States to "assure the neutrality" of the generals who are now ruling the country under martial law. Kim Dae Jung, who is under house arrest, broke an unofficial moratorium on political activity on the eve of the state funeral of President Park Chung Hee, which was to be attended by Secretary of State Cyrus Vance. [New York Times]
  • Britain presented a "final" plan for new elections in Zimbabwe Rhodesia and implored the Patriotic Front guerrillas to accept it by Monday, bringing the London conference on the issue to a new crisis. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 818.94 (-1.20, -0.15%)
S&P Composite: 102.51 (-0.06, -0.06%)
Arms Index: 1.13

IssuesVolume*
Advances82910.79
Declines6229.12
Unchanged4133.76
Total Volume23.67
* 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
DateDJIAS&PVolume*
November 1, 1979820.14102.5725.89
October 31, 1979815.70101.8227.78
October 30, 1979823.81102.6728.89
October 29, 1979808.62100.7122.72
October 26, 1979809.30100.5729.67
October 25, 1979808.46100.0028.45
October 24, 1979808.36100.4431.48
October 23, 1979806.83100.2832.91
October 22, 1979809.13100.7145.24
October 19, 1979814.68101.6042.43


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