News stories from Tuesday October 14, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iraqi forces advanced slowly toward the burning Iranian oil refinery city of Abadan. Iraqi reinforcements were pouring in and the apparent goal was to begin a siege. For the first time the Iraqis moved tanks and troops by daylight across the Karun River into a widening bridgehead on the way to Abadan. [New York Times]
- A victory over Kurdish secessionists was reported by Iran. It said its forces had quelled an Iraqi-supported uprising by the rebels. The ability of Iran's armed forces, decimated by revolution and demoralized by political chaos, to fend off the forces of Iraq has astonished American military analysts. But some say it may be only a matter of time before the Iranians give in. [New York Times]
- A woman would join the Supreme Court if Ronald Reagan is elected President, he pledged. Reflecting concern about polls that show him trailing President Carter among women voters, Mr. Reagan also said he would "use every opportunity" to convince women that he considers war a "last resort." [New York Times]
- The President attacked Ronald Reagan on the economy, charging that his proposals to cut taxes and increase spending would add $130 billion to the federal deficit by the fiscal year 1983 and force the dismantling of most government programs except for the military and Social Security. Mr. Carter challenged Mr. Reagan to specify what programs he would eliminate to balance the budget. [New York Times]
- John Anderson stressed candor in campaigning as he issued a financial accounting of his proposals for government spending and taxation for the next four years. The independent presidential candidate said that the programs proposed and revenues projected by President Carter and Ronald Reagan would lead to budget deficits for at least three years. [New York Times]
- The broadcasting of trial videotapes that were used as evidence in the first court proceedings arising from the Abscam investigation of political corruption was cleared by the Supreme Court. In a unanimous action, the Justices refused to stay an appeals court decision allowing the television networks to copy and broadcast the tapes. [New York Times]
- Favoritism for student athletes was disclosed in a report issued by the president of the University of Southern California. It said that the athletics department had directed the enrollment of 330 scholastically deficient athletes in the last decade. The university said that most of the athletes had dropped out before their senior year. [New York Times]
- Assailing Christian fundamentalism, a group of 61 leading scholars and writers has issued "A Secular Humanist Declaration." It denounces "the reappearance of dogmatic authoritarian religions," saying they threaten intellectual freedom, human rights and scientific progress. [New York Times]
- The constitutional struggle in Canada entered a new stage. Five of the 10 provincial Premiers, who will probably soon be joined by two others, agreed to bring a legal challenge against a plan by the federal government to act alone in obtaining a new charter. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 962.20 (+2.30, +0.24%)
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* |
| October 13, 1980 | 959.90 | 132.03 | 31.41 |
| October 10, 1980 | 950.68 | 130.29 | 44.03 |
| October 9, 1980 | 958.96 | 131.04 | 43.98 |
| October 8, 1980 | 963.99 | 131.65 | 46.58 |
| October 7, 1980 | 960.67 | 131.00 | 50.31 |
| October 6, 1980 | 965.70 | 131.73 | 50.12 |
| October 3, 1980 | 950.68 | 129.33 | 47.50 |
| October 2, 1980 | 942.24 | 128.09 | 46.16 |
| October 1, 1980 | 939.42 | 127.13 | 48.71 |
| September 30, 1980 | 932.42 | 125.46 | 40.29 |