News stories from Tuesday April 1, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Washington eased its stand on Iran. President Carter said he was deferring plans to impose new economic and political sanctions in the expectation that the American hostages would soon be transferred from Islamic militants to the control of the Iranian government. But hours later, there were signs that the arrangement to resolve the crisis might be unraveling.
Iran set stiff conditions in the crisis over the American hostages. President Abolhassan Bani-Sadr said that the Revolutionary Council would accept control of the captives being held by Islamic militants only if Washington formally pledged not to say or do anything hostile until after Iran's new parliament is elected and decides the fate of the hostages.
[New York Times] - President Carter won a landslide victory in the Democratic presidential primary in Wisconsin while Ronald Reagan won more narrowly in the Republican contest. Mr. Reagan also won a major share of votes from Democrats and independents to strengthen his argument that he can win in November. Gov. Jerry Brown of California annnounced his withdrawal from the Democratic race. Reagan won overwhelmingly in the Republican presidential primary in Kansas while President Carter gained a comfortable victory over Senator Edward Kennedy in the Democratic contest. [New York Times]
- The strongest political speech in months was delivered by President Carter. He won cheers, applause and four standing ovations as he appealed for support before 3,000 contruction-trade leaders and sharply criticized the policies of his Democratic and Republican opponents. [New York Times]
- A volcano continued sporadic activity as a new plume of steam or smoke, laden with volcanic ash, rose high above Mount St. Helens in southwestern Washington. The mountain was reported obscured by clouds, hindering observation. [New York Times]
- Sharply higher defense spending in the next fiscal year was pressed by several influential congressional committees. They ignored President Carter's plea Monday for a 5.2 percent increase in the military budget and his insistence that the total budget be cut and balanced to help stem inflation. [New York Times]
- It was census day across the nation, and enumerators in southern Utah pressed their mission with snowmobiles, mules and horses, seeking out mountain and cave dwellers, illegal Mexican migrants and Vietnamese refugees, and arguing with uncooperative members of the John Birch Society. The canvassers counted people in jails, flophouses and ski resorts and, after much negotiation, polygamists and their many wives. [New York Times]
- A pioneering, 28-day simulated dive is to end tomorrow as three volunteers emerge from a pressure tank after setting a world record reaching the equivalent of 2,132 feet beneath the sea. The achievement involved using an unusual mixture of breathing gases -- helium and oxygen with 10 percent nitrogen, which a leading researcher called "a bold step." [New York Times]
- A halt in the mass transit system in New York City occurred as 33,000 bus and subway workers went on strike, delaying and inconveniencing millions of people, but sunny weather, light traffic and the Passover holiday softened the initial impact of the walkout. Most people struggled to work by other means while some took a holiday. Officials warned of serious traffic problems during what some said could be a long dispute. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 784.47 (-1.28, -0.16%)
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 31, 1980 | 785.75 | 102.09 | 35.85 |
| March 28, 1980 | 777.65 | 100.68 | 46.71 |
| March 27, 1980 | 759.98 | 98.22 | 63.77 |
| March 26, 1980 | 762.12 | 98.68 | 37.35 |
| March 25, 1980 | 767.83 | 99.19 | 43.79 |
| March 24, 1980 | 765.44 | 99.28 | 39.22 |
| March 21, 1980 | 785.15 | 102.31 | 32.22 |
| 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 |