News stories from Thursday August 27, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- There are reports that the Soviet Union is still shipping heavy arms to the United Arab Republic. The UAR has become stronger since the cease-fire began, and Israel's military edge is eroding. Israeli Prime Minister Golda Meir is disappointed in the cease-fire, saying that it undermines Israel. [CBS]
- In Saigon, Vice President Spiro Agnew discussed land reform and pacification with South Vietnam President Nguyen Van Thieu; Agnew may go to Cambodia next. Thailand will pull its troops out of Cambodia to defend their own country. 10,000 (not 20,000) American soldiers will leave South Korea. [CBS]
- North Vietnam negotiator Xuan Thuy boycotted the Paris Peace Talks today. [CBS]
- A Miami federal judge ordered that black soldier Pondexteur Williams, who was killed in Vietnam, be allowed to be buried in all-white Hillcrest Cemetery. [CBS]
- The Commerce Department reported that its index of leading economic indicators was up 1.6% last month; business should pick up. [CBS]
- The Labor Department added seven cities to the list of those with 6% or more unemployment. There are now 31 cities on the list. [CBS]
- The Senate has opened new hearings on the supersonic transport; President Nixon wants $290 million for SST development. Senator Warren Magnuson said that the project should help the U.S. labor situation. Massachusetts Institute of Technology scientists warned that the supersonic transport may affect world weather and environment. [CBS]
- The American Legion opens its convention tomorrow in Portland, Oregon; antiwar protesters are gathering. A rock concert will be held to protest the American Legion's glorification of war. Businesses have hired private guards to help avoid confrontations, and the National Guard has been alerted. The state is holding free rock concerts outside of town to lure youth away from the convention. [CBS]
- Republican Congressman John Byrnes says that he opposes President Nixon's revenue sharing plan; Rep. Wilbur Mills is against it too. Passage is unlikely. [CBS]
- Republican Pennsylvania Governor Raymond Shafer is helping Democrats plan their campaign platform; like them, he wants tax reform. [CBS]
- Former President Lyndon Johnson celebrated his 62nd birthday quietly; a state park will be dedicated in his name on Saturday. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 759.79 (-0.68, -0.09%)
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* |
| August 26, 1970 | 760.47 | 81.21 | 15.97 |
| August 25, 1970 | 758.97 | 81.12 | 17.52 |
| August 24, 1970 | 759.58 | 80.99 | 18.91 |
| August 21, 1970 | 745.41 | 79.24 | 13.42 |
| August 20, 1970 | 729.60 | 77.64 | 10.17 |
| August 19, 1970 | 723.99 | 76.96 | 9.87 |
| August 18, 1970 | 716.66 | 76.20 | 9.50 |
| August 17, 1970 | 709.06 | 75.33 | 6.94 |
| August 14, 1970 | 710.84 | 75.18 | 7.85 |
| August 13, 1970 | 707.35 | 74.76 | 8.64 |