News stories from Thursday July 17, 1980

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

Ronald Reagan opened his campaign for the White House with a call to Americans to "recapture our destiny" by replacing President Carter's "trust me" philosophy of government with a new American compact that puts trust in the people and returns many federal functions to the state and local level. Mr. Reagan said in his acceptance speech that he would ease tax burdens and limit the growth of federal government. Mr. Carter congratulated Mr. Reagan, again welcomed a debate with him, then issued a scathing attack on the Republican Party for being "afraid of the future" and having leaders "inclined to shoot from the hip." [New York Times] The 'dream ticket' failed in Detroit after Gerald Ford's emissaries put forth demands that would have given Mr. Ford operational control of the executive branch of the government, according to sources close to both sides of the discussions. Mr. Ford's negotiators proposed that Mr. Ford would accept the vice-presidential nomination if he could be the "chief operating officer" at the White House. [New York Times] Billy Carter was briefed in 1978 by a foreign policy specialist on the staff of the National Security Council who tried to persuade him to postpone a trip to Libya that year. Under the terms of a civil consent agreement with the Justice Department, Mr. Carter registered Monday as an agent of the government of Libya, disclosing that earlier this year he received payments of $220,000 for his services. [New York Times] The National Guard was alerted in Miami and a state of emergency was declared in an effort to restore order following two nights of disturbances. A square mile of the Liberty City section was placed under a 9 P.M. curfew after violence that left 39 people injured and resulted in 25 arrests. [New York Times] Missourians are dying of fear to leave their homes in the extreme heat that has registered near or over 100 degrees since July 1. Elderly people, afraid of attack or robbery, have been found dead of heat stroke in homes with locked doors and windows. [New York Times] The oil companies were blameless in the gasoline shortage during the spring and summer of 1979, according to studies by two federal departments. The studies, ordered by President Carter to investigate possible illegal conduct, concluded that the shortages resulted from a loss of oil from Iran, declining domestic output and the government's pricing and allocation rules. [New York Times] Zimbabwe's white army chief will quit his post at the end of the month, the defense ministry announced. The surprise departure of Gen. Peter Walls, who headed white Rhodesia's battle against black nationalist guerillas for the last eight years of the civil war, seemed certain to shake the remaining white population of about 220,000 during the transitional period to a stable regime. [New York Times] Armed forces took control of Bolivia, apparently to head off the expected choice of a leftist as the nation's democratically elected President. The military uprising began in a northern city. Rebels later seized the government palace in La Paz, the capital, and reportedly took the interim chief of staff and her top aides captive. [New York Times] Sexual abuse of women in India has been dramatized by the rape of a peasant who claims police officers raped her after killing her husband and two of his friends. Prime Minister Indira Gandhi has ordered a judicial inquiry into the incident, but has refused to take action against the policemen. There are almost daily reports of rape by police or abductors. [New York Times] Curbs were lifted on the navy in West Germany by its government. The decision, made secretly last month, removes an old restriction, self-imposed after World War II, that West German warships were not to operate beyond 24 hours' sailing time from the approaches to the Baltic Sea. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 915.10 (+10.66, +1.18%)
S&P Composite: 121.44 (+1.81, +1.51%)
Arms Index: 0.58

	Issues	Volume*
Advances	1,077	34.72
Declines	445	8.36
Unchanged	363	5.77
Total Volume		48.85

* 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*
July 16, 1980	904.44	119.63	49.13
July 15, 1980	901.54	119.30	60.90
July 14, 1980	905.55	120.01	45.48
July 11, 1980	891.13	117.84	38.31
July 10, 1980	885.92	116.95	43.73
July 9, 1980	897.27	117.98	52.00
July 8, 1980	897.35	117.84	45.83
July 7, 1980	898.21	118.29	42.54
July 3, 1980	888.91	117.46	47.23
July 2, 1980	876.02	115.68	42.85