News stories from Thursday January 3, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Moscow accused President Carter of belligerence, hypocrisy and lying when he said in a New Year's Eve interview that the Soviet military intervention in Afghanistan was an "invasion." Moscow contends that its troops are in Afghanistan in answer to a government call for help in putting down a rebellion supported from abroad. The Soviet military presence in Kabul appeared to be sharply reduced, Western reporters noted as they were being expelled from Afghanistan. A Western diplomat speculated that many of the Soviet troops had been sent to the provinces to fight the insurgency of anti-Marxist Afghans.
A United Nations move was pressed to seek removal of Soviet troops from Aghanistan. Forty-three third-world and Western nations called for an urgent meeting of the Security Council to consider the Afghan issue.
[New York Times] - A ban on military aid to Pakistan would be lifted under an accord that President Carter reached with key members of Congress because of the Soviet military intervention in Afghanistan. Administration officials said that the President had approved urgent consultations with Congress on ending the prohibition, which was imposed last April because Pakistan had refused to pledge not to develop nuclear arms. [New York Times]
- Secretary General Kurt Waldheim abruptly left Teheran following his failure to obtain a meeting with Ayatollah Khomeini to discuss the situation of the American hostages. Following a meeting with Iran's Revolutionary Council, it became clear that the Ayatollah would not consent to see the Secretary General.
An aggressive stand toward Iran was taken by John Connally, a Republican presidential aspirant. He demanded that President Carter set a deadline for the release of American hostages and suggested "disruptions" in Iranian oil production if the deadline was not met. Mr. Connally did not define "disruptions."
[New York Times] - Housing construction would be spurred by a 20 percent increase in federal subsidies that wilt he proposed by President Carter in the budget for the fiscal year 1981, administration officials disclosed. They also said that Mr. Carter would ask Congress for $1 billion in funds for new programs to assist unemployed young people. [New York Times]
- President Carter's withdrawal from a debate next Monday with Democratic challengers was a political tactic, according to the editors and staff of The Des Moines Register, a highly political, fervently read Iowa daily newspaper which sponsored the forum. They say that Mr. Carter's decision has less to do with the crisis over American hostages in Iran than with his new high ratings in the political polls. [New York Times]
- A drop in reported murders in Detroit was greeted with relief by residents of the city. The police recorded 251 murders in 1979, 47 fewer than in 1978 and a 10-year low. [New York Times]
- The first clinical test of laetrile on cancer patients has been conditionally approved by the Food and Drug Administration. It agreed to let the National Cancer Institute carry out the study on 200 to 300 persons provided that it repeat a laetrile test on rabbits and then conduct a three-month toxicity study on six cancer patients. [New York Times]
- Rhodesian cease-fire steps slowed as only 6,800 of about 16,000 rebels believed to be operating in the country reported to assembly points 30 hours before the deadline. An official said that Lord Soames, the British Governor, would not agree to a request from Patriotic Front guerrilla leaders to extend the deadline. [New York Times]
- A Cleveland teachers' strike ended after 11 weeks. The teachers overwhelmingly ratified a contract that provides for an immediate 10 percent raise and an additional 14 percent increase over two years. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 820.31 (-4.26, -0.52%)
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* |
| January 2, 1980 | 824.57 | 105.76 | 40.61 |
| December 31, 1979 | 838.74 | 107.94 | 31.53 |
| December 28, 1979 | 838.91 | 107.84 | 34.42 |
| December 27, 1979 | 840.10 | 107.96 | 31.40 |
| December 26, 1979 | 838.14 | 107.78 | 24.95 |
| December 24, 1979 | 839.16 | 107.66 | 19.15 |
| December 21, 1979 | 838.91 | 107.59 | 36.16 |
| December 20, 1979 | 843.34 | 108.26 | 40.39 |
| December 19, 1979 | 838.91 | 108.20 | 41.79 |
| December 18, 1979 | 838.65 | 108.30 | 43.30 |