News stories from Wednesday April 23, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A delay in possible U.S. military moves aimed at freeing the American hostages in Iran was indicated by Washington. This resulted from the Common Market's decision Tuesday to invoke sanctions on May 17 if "decisive progress" is not made by then toward the release of the 53 captives. The European allies are expected to press delay of up to several months in any steps such as a naval blockade, and Washington indicated a sympathetic response. [New York Times]
- Japanese sanctions against Iran will be imposed in support of Western efforts to free the American hostages in Teheran, a government spokesman announced in Tokyo.
New Iranian-Soviet bloc trade accords were announced by the Iran radio. It said that "important" agreements had been reached with the Soviet Union, Rumania and East Germany, but gave no details. Teheran also announced that in the event of an American naval blockade, the Soviet Union had agreed to supply Iran by land.
[New York Times] - Iran ordered the expulsion of American journalists for the second time this year. Officials considered it likely that most of the 12 journalists would be ousted by early next week. [New York Times]
- West Germany backed a boycott of the Olympics in Moscow, calling on its National Olympic Committee to join in the American-led action. Bonn's decision was considered likely to influence other West European countries that have not announced their positions. [New York Times]
- Edward Kennedy and George Bush won victories in Tuesday's primaries in Pennsylvania that were essential to keep their presidential campaigns alive. But President Carter and Ronald Reagan made greater gains in convention delegates that will require the underdogs to win a series of landslide victories to catch up with the leaders. Senator Kennedy's Pennsylvania victory was achieved with a margin of only 9,800 votes. [New York Times]
- The Carter campaign was troubled by the political and financial threat of a protracted battle with Senator Kennedy in the major industrial states. President Carter's aides expressed confidence that he would win renomination, but his campaign chairman, Robert Strauss, also expressed concern over the looming prospect of an independent candidacy by Representative John Anderson. [New York Times]
- Senator Kennedy asserted that his narrow victory in Pennsylvania had put him in a much stronger position to win the Democratic presidential nomination. But Mr. Kennedy conceded that he was still an underdog and clearly needed much bigger victories in the remaining primaries and caucuses to overtake President Carter. [New York Times]
- Hundreds of Cubans arrived in Florida aboard a flotilla of weathered American fishing and pleasure craft as Havana challenged Washington to accept all dissidents who wanted to emigrate. The Carter administration announced stiff penalties against boat owners for future illegal transporting of Cubans. [New York Times]
- A proposed balanced budget won its first test on the floor of the House as a coalition of Democratic and Republican moderates overwhelmed both liberals and conservatives. With the aid of the bipartisan leadership, the $611.8 billion budget and 11 amendments were cleared for further action by a vote of 261 to 143. [New York Times]
- The Rapid Deployment Force staged its first large-scale exercise with heavy weapons. The arms and troops were carried to a remote region in southern Idaho by Air Force transports from Colorado in the largest aerial movement of heavy military equipment since Washington resupplied Israel in the 1973 Middle East war. [New York Times]
- New York City faces a loss in aid far in excess of a previous estimate of $80 million to $100 million under the federal revenue sharing program alone, according to a new analysis by the city's budget office. Its first detailed analysis of proposed cuts in the federal budget estimates that the city may lose $321 million to $424 million in aid in the next fiscal year. [New York Times]
- American citizens can be held in prison in this country on Mexican narcotics charges even if they were convicted and imprisoned under brutal conditions in Mexico, under a federal appeals court ruling. The decision set a major precedent in enforcing provisions of a 1977 United States-Mexican treaty on prisoners. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 789.25 (-0.60, -0.08%)
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* |
| April 22, 1980 | 789.85 | 103.43 | 47.92 |
| April 21, 1980 | 759.13 | 99.80 | 27.55 |
| April 18, 1980 | 763.40 | 100.55 | 26.88 |
| April 17, 1980 | 768.86 | 101.05 | 32.77 |
| April 16, 1980 | 771.25 | 101.54 | 39.72 |
| April 15, 1980 | 783.36 | 102.63 | 26.67 |
| April 14, 1980 | 784.90 | 102.84 | 23.06 |
| April 11, 1980 | 791.55 | 103.79 | 29.96 |
| April 10, 1980 | 791.47 | 104.08 | 33.95 |
| April 9, 1980 | 785.92 | 103.11 | 33.02 |