News stories from Friday March 21, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Carter reiterated his stand, in a meeting with 150 athletes and coaches at the White House, against United States participation in the Olympic Games this summer in Moscow because of the Soviet intervention in Afghanistan. Later, a poll among 97 of the athletes showed that 44 opposed the boycott, 29 were in favor and 24 abstained. [New York Times]
- President Carter's disavowal of the American vote for a United Nations resolution protesting Israeli settlements reflected his concern that the vote in the Security Council three weeks ago would upset current negotiations on Palestinian self-rule, not because the resolution violated American policy, Secretary of State Cyrus Vance told the House Foreign Affairs Committee. He was adamant in refusing to make any concessions to Israel's supporters on the committee. [New York Times]
- Hamilton Jordan flew to Panama to help settle a dispute between Panamanian and American physicians over medical treatment for the deposed Shah of Iran. Administration officials said that it is possible that the Shah might have to be re-admitted to the United States if the quarreling in Panama continued. [New York Times]
- Four Republican senators endorsed Ronald Reagan's candidacy. Mr. Reagan is trying to reinforce his lead in Republican convention delegates by getting endorsements of party leaders as early as possible to further isolate his remaining competition, George Bush and Representative John Anderson of Illinois. [New York Times]
- Restoration of $500 million in aid for cities will be sought in Congress by President Carter. The funds were killed Thursday night by the House Budget Committee in a narrow vote. Mr. Carter predicted in interviews with five New York City television stations that Congress would eventually approve the aid program.
A measure to save some city aid funds from a budget cut proposed by the House Budget Committee lost by a narrow margin because a supporter of increased federal aid to New York City refused to compromise and another committee member was absent. Thus, the Carter administration lost an opportunity get a political boost as the New York Democratic primary approached.
[New York Times] - A bipartisan coalition in the House has been organized by Representative Robert Giaimo of Connecticut, chairman of the House Budget Committee, who hopes that it will provide the votes needed for the approval of budget plan to provide the first surplus in 12 years. It combines moderate and conservative Democrats with fiscally conservative Republicans. Liberal Democrats have shunned it. [New York Times]
- Price protection for steelmakers was suspended by the administration following the filing of complaints against European producers by the United States Steel Corporation accusing them of "dumping" steel at unfairly low prices. The administration had threatened suspension of the "trigger price mechanism," which sets minimum steel import prices if a "major" anti-dumping suit were filed. [New York Times]
- Highly valued Army and Navy aides are leaving the services because of inadequate pay and benefits. Senior military and naval officers warned Congress that the exodus of senior non-commissioned officers and middle grade officers, pilots and physicians had done more to weaken the military readiness of the United States than shortages of guns and gasoline. [New York Times]
- Angelo Bruno, the reputed leader of organized crime in the Philadelphia-South Jersey area, was shot dead while sitting with another man in a car outside his South Philadelphia home. Mr. Bruno was killed immediately and the other man, identified as his chauffeur, John Stanfa, was wounded in the right hand and arm. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 785.15 (-3.93, -0.50%)
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* |
| March 20, 1980 | 789.08 | 103.12 | 32.58 |
| March 19, 1980 | 800.94 | 104.31 | 36.52 |
| March 18, 1980 | 801.62 | 104.10 | 47.34 |
| March 17, 1980 | 788.65 | 102.26 | 37.01 |
| March 14, 1980 | 811.69 | 105.43 | 35.18 |
| March 13, 1980 | 809.56 | 105.62 | 33.00 |
| March 12, 1980 | 819.54 | 106.92 | 37.99 |
| March 11, 1980 | 826.45 | 107.76 | 41.42 |
| March 10, 1980 | 818.94 | 106.51 | 43.54 |
| March 7, 1980 | 820.56 | 106.90 | 50.95 |