News stories from Tuesday January 15, 1980

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

A U.S. boycott of the Moscow Olympics this summer is likely if the Soviet Union does not withdraw its troops from Afghanistan by mid-February, Secretary of State Vance said. In an interview, he expressed frustration and pessimism about a negotiated solution soon of the crisis over American hostages in Iran. [New York Times] The Iranian crisis might be eased by the mass expulsion of American reporters from Iran, according to a prominent Iranian official. He suggested that the ouster might help calm the militants holding American hostages in their embassy in Teheran. The captors have gained wide publicity for rallies at the embassy and through occasional, selective interviews. [New York Times] Pakistan appealed urgently for aid and support, particularly from Western countries, in the face of what it regards as a grave threat posed by the Soviet intervention in Afghanistan. The plea was made by President Mohammed Zia ul-Haq, who said that events were moving "toward greater chaos." High Pakistani officials said privately that they considered a new American aid offer inadequate.Afghan rebels have been getting aid from the large Baluchi minority in southeastern Iran, according to diplomatic and press reports in Teheran. The assistance, which began surreptitiously more than a year ago, is said to be increasing as a result of the Soviet intervention in Afghanistan. Aid to the guerrillas resisting the Soviet-backed regime includes food, weapons, medical supplies and money. American allies moved to respond to the Soviet intervention in Afghanistan at a NATO Council meeting in Brussels. Deputy Secretary of State Warren Christopher said he was encouraged by the various proposals. [New York Times] President Carter has won wide support for his moves against Moscow after its troops intervened in Afghanistan, but there is evidence of erosion of the sharply increased public support he has enjoyed for his handling of the hostage crisis in Iran, according to the latest New York Times/CBS News Poll. The survey also found that, for the first time in 20 years of polling, a solid plurality felt that too little was being spent on the military. [New York Times] A rise in the Carter campaign staff in Iowa was acknowledged by administration and campaign officials. They said that about 30 members of the White House staff were on vacation or unpaid leaves of absence to campaign for President Carter in Democratic caucuses. They joined 35 full-time paid campaign aides there. [New York Times] Action on suspected Nazis thought to be in the United States will be pressed by the Justice Department. It has set a goal of one year for acting on about 250 cases of alleged war criminals in its files. Some of the cases date to the years just after World War II. [New York Times] Absolute immunity for parole officials from liability for their decisions to free prisoners on parole may be granted by the states under a unanimous Supreme Court ruling. The decision rejected a challenge to a California immunity law by the parents of a 15-year-old girl who was murdered by a man released on parole five months earlier. [New York Times] Federal financing for abortions for indigent women was upheld by a federal judge in Brooklyn. He declared unconstitutional a law that permits Medicaid payments only where a woman's life would be endangered if the fetus were carried to full term or where a pregnancy has resulted from rape or incest not promptly reported. If upheld on appeal, the ruling would apply across the country. [New York Times] The consular service is plagued by increasing instances of corruption and ineptness in the issuance of visas. The problems coincide with an increased flow of foreigners who seek to enter the United States, shortages in consular personnel and the inexperience of many consular officers. The State Department has quietly begun inquiries into a number of consulates, particularly in Latin America. [New York Times] Record inflation in Israel has raised havoc in planning and has brought a deep sense of economic insecurity to the country. The government reported that consumer prices rose 111.4 percent in 1979, pushing the cost of living index to more than five times the level of four years ago. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 868.60 (+5.03, +0.58%)
S&P Composite: 111.14 (+0.76, +0.69%)
Arms Index: 0.67

	Issues	Volume*
Advances	776	27.92
Declines	761	18.46
Unchanged	369	5.94
Total Volume		52.32

* 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*
January 14, 1980	863.57	110.38	52.94
January 11, 1980	858.53	109.92	52.89
January 10, 1980	858.96	109.89	55.98
January 9, 1980	850.09	109.05	65.24
January 8, 1980	851.71	108.95	53.38
January 7, 1980	832.00	106.81	44.50
January 4, 1980	828.84	106.52	39.16
January 3, 1980	820.31	105.22	50.47
January 2, 1980	824.57	105.76	40.61
December 31, 1979	838.74	107.94	31.53