Monday August 17, 1970
. . . where the 1970s live forever!

News stories from Monday August 17, 1970


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

  • At a meeting of VFW veterans today, Vice President Spiro Agnew attacked Senate doves and the McGovern-Hatfield amendment. Agnew called the amendment a blueprint for U.S. defeat and chaos in Southeast Asia, and he praised the Cambodian invasion; Agnew received a standing ovation. Senator George McGovern said that Agnew is wrong and is taking a mistaken course.

    An amendment to end the war would lose now in Congress, but changes are being made. [CBS]

  • China signed a military aid agreement with Prince Norodom Sihanouk's Cambodian government in exile. [CBS]
  • American B-52s hit Communists who were attacking seven bases in northern South Vietnam. [CBS]
  • Israel and the U.S. are at odds over Israeli charges that the United Arab Republic has violated the Mideast cease-fire. Foreign Minister Abba Eban criticized the U.S. for impugning Israel's integrity. The Nixon administration is irritated at the Israeli charges and their refusal to start peace talks; Israel won't talk peace until the U.S. admits that the charges of cease-fire violations are true and takes diplomatic action. [CBS]
  • U.S. oil import laws are being debated; present quotas protect the American oil industry and keep prices high. President Nixon rejected a move to substitute tariffs for quotas, saying that he will revise the quota system. Oil companies are pleased. [CBS]
  • The Water Hygiene Bureau reported that 16% of American water systems are potentially hazardous; 25% are inferior in taste, odor, or color, but are still safe to drink. [CBS]
  • Explosions hit Minneapolis, Minnesota, and Omaha, Nebraska. In Minneapolis, a blast ripped the federal building; 24 sticks of dynamite caused $500,000 damage. Six false bomb threats followed the blast. In Omaha, a fake call for help lured policemen to a house where a bomb in a booby-trapped suitcase killed one and injured seven. [CBS]
  • Linda Kasabian stated that she's an emissary from God who was sent to show Charles Manson as a devil and a false prophet. [CBS]
  • The Soviets have launched their seventh unmanned probe of Venus. [CBS]


Stock Market Report

Dow Jones Industrial Average: 709.06 (-1.78, -0.25%)
S&P Composite: 75.33 (+0.15, +0.20%)
Arms Index: 1.13

IssuesVolume*
Advances5562.56
Declines6373.32
Unchanged3251.06
Total Volume6.94
* 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
DateDJIAS&PVolume*
August 14, 1970710.8475.187.85
August 13, 1970707.3574.768.64
August 12, 1970710.6475.427.44
August 11, 1970712.5575.827.33
August 10, 1970713.9276.207.58
August 7, 1970725.7077.289.37
August 6, 1970722.8277.087.56
August 5, 1970724.8177.187.66
August 4, 1970725.9077.198.31
August 3, 1970722.9677.027.65


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