News stories from Monday May 5, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The storming of Iran's embassy in London was carried out by British commandos and policemen, who freed 19 hostages. Three of the five gunmen holding the embassy were killed and the two others were captured. No hostages were believed killed in the dramatic and fiery raid. It was decided on minutes after the gunmen had killed two hostages.
Iraqi complicity in the embassy seizure in London was cited by some Arab diplomats there. They say they believe that the takeover of the Iranian building was planned in coordination with Iraqi intelligence services.
[New York Times] - The use of military force was ruled out for the foreseeable future to resolve the Iranian crisis in assurances given by President Carter to Cyrus Vance on his last day as Secretary of State, close associates of Mr. Vance said. Because of the failure of the rescue mission and the opposition of allies to military steps, Mr. Carter reportedly told Mr. Vance that he was pressing diplomatic and economic approaches to freeing the 53 American hostages. [New York Times]
- Yugoslavs mourned President Tito with tearful gratitude. Hundreds of thousands lined the route of his private blue train, which bore his body on an eight-hour journey from the hills of Slovenia through his native Croatia to Belgrade. Thousands assembled there broke into a World War II partisan song extolling his leadership. [New York Times]
- President Carter welcomed the Cubans who are pouring into Florida in a flotilla of small boats. Washington said it was seeking assurances from Cuba for the safe passage of about 380 Cubans who have taken refuge in the United States immigration office in Havana since an attack Friday by chain-wielding members of a crowd. Most of those besieged are said to be recently freed political prisoners. [New York Times]
- An order to a priest to quit politics was issued by the chief of the Jesuit order at the request of Pope John Paul II, an authoritative Vatican source said. The Jesuit leader thanked the Rev. Robert Drinan, Democrat of Massachusetts, for agreeing not to seek a sixth term in the House of Representatives and praised his principles. Father Drinan expressed "regret and pain" in accepting the Vatican's order not to seek re-election as the representative of a district outside Boston. The Jesuit priest said he would continue to work for domestic justice and world peace. [New York Times]
- George Bush vowed not to quit the race for President before the final primaries are held June 3. Both Mr. Bush and Senator Edward Kennedy, the underdogs, expect to see Ronald Reagan and President Carter increase their already sizable leads in garnering delegates in primaries Tuesday in Indiana, North Carolina, Tennessee and the District of Columbia. [New York Times]
- An open Democratic convention was urged by Governor Carey, who said that the nation was "in trouble" under President Carter's leadership. The Democratic Governor of New York called on the party's presidential aspirants to release all their delegates and said that "a totally open convention" would unify Democrats. [New York Times]
- A curb on intelligence agencies, barring them from secretly using journalists, clerics or academicians as spies or informers, is to be proposed tomorrow by Senator Daniel Patrick Moynihan. The New York Democrat will also seek to prohibit intelligence agents from posing as members of journalistic, religious or academic groups. [New York Times]
- Rules for controlling hazardous wastes created by industry were announced by the Environmental Protection Agency in an effort to prevent such threats as the recent explosion at a chemical dump site in Elizabeth, N.J. An agency official estimated that it would cost industry $1 billion a year to comply with the new rules. [New York Times]
- Restoring the death penalty for certain categories of murder was backed by a vote of 42 to 14 in the New York state Senate, overriding Governor Carey's veto of the legislation. However, the Governor's veto is expected to be upheld in the Assembly. [New York Times]
- Jews in Hebron demonstrated against last Friday's Palestinian terrorist attack. Several thousand Jews, many carrying weapons, took part in the funeral procession for one of the six people killed while Arab residents stayed home under a strict curfew. [New York Times]
- A new President of Greece was elected on a third ballot in Parliament. He is Prime Minister Constantine Caramanlis, who guided the country back to democracy after the collapse of military rule in 1974. He pledged to work to strengthen democracy and political and social unity. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 816.30 (+5.38, +0.66%)
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* |
| May 2, 1980 | 810.92 | 105.58 | 28.14 |
| May 1, 1980 | 808.79 | 105.46 | 32.48 |
| April 30, 1980 | 817.06 | 106.29 | 30.85 |
| April 29, 1980 | 811.09 | 105.86 | 27.93 |
| April 28, 1980 | 805.46 | 105.64 | 30.61 |
| April 25, 1980 | 803.58 | 105.16 | 28.59 |
| April 24, 1980 | 797.10 | 104.40 | 35.79 |
| April 23, 1980 | 789.25 | 103.73 | 42.62 |
| April 22, 1980 | 789.85 | 103.43 | 47.92 |
| April 21, 1980 | 759.13 | 99.80 | 27.55 |