News stories from Friday October 17, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iran accused the United States of having inspired the Iraqi invasion. Addressing the United Nations Security Council for 65 minutes, Prime Minister Mohammed Rajai asserted that Iraq was primarily serving the objectives of Washington but also those of Moscow in seeking to overthrow Iran's revolutionary government. He ruled out any cease-fire.
No progress on the hostage crisis is likely to result soon from Prime Minister Rajai's mission to New York, according to high United States officials. They said they had no basis for doubting Iran's statements that he would hold no talks with American officials while he is in the United States.
[New York Times] - Iraq moved more troops and tanks into the siege of Abadan and kept up its shelling of the oil refinery city. Iran said the defenders of both Abadan and Khorramshahr, the oil port that is also under siege, were repulsing Iraqi efforts to capture the cities. [New York Times]
- A Carter-Reagan debate is virtually set. Ronald Reagan, reversing his position, agreed to a confrontation with the President that excludes John Anderson, and the Carter campaign chief said that the President was ready for such a two-candidate debate. The League of Women Voters invited them to debate on Oct. 28. [New York Times]
- John Anderson will try to buy TV time to present his positions immediately after a Carter-Reagan debate. The independent candidate accused the League of Women Voters of having abandoned its position of neutrality by excluding him from the confrontation and said that he had "earned a place in any debate." [New York Times]
- The Carter drive in Texas is threatened by deep disenchantment among Hispanics, who provided the President with a narrow victory margin there in 1976. Texas is considered a critical state and rated a virtual tossup in the election by both Democratic and Republican officials. Both sides say that Mexican-Americans must vote overwhelmingly for Mr. Carter for him to win the state. [New York Times]
- Evidence that the recession had ended and was the shortest of modern times increased as the government reported that the gross national product rose at an annual rate of 1 percent in the third quarter of this year after adjustment for inflation. The report was one of the final economic statistics to be announced before the Nov. 4 election and gave President Carter new aid to defend his economic record. [New York Times]
- Mount St. Helens erupted for the third time in 24 hours, spewing clouds of steam and ash to 45,000 feet. The mountain had been quiet all afternoon and evening following massive eruptions Thursday night and Friday morning that had shot clouds of smoke nearly 10 miles into the sky. [New York Times]
- The killing of a reporter in Arizona 1976 resulted in a conviction for first degree murder of John Adamson, a racing dog owner. A jury in Tucson, Ariz., found him guilty in the slaying of Don Bolles of The Arizona Republic. Mr. Adamson had earlier confessed to a murder-for-hire and implicated a wealthy contractor and a plumber, whose convictions were overturned by the Arizona Supreme Court. [New York Times]
- New York was rebuffed on the census. The director of the Census Bureau refused to comply with a federal court order to give to the city and state the master address lists used to compile the 1980 count. He contended that surrendering them would violate federal laws barring his agency from disclosfing confidential information. His position raised the possibility of a thorny confrontation between the executive and judicial branches of the federal government. [New York Times]
- A "drought warning" was declared by the Delaware River Basin Commission, which regulates water supplies for 22 million people in New York, New Jersey, Pennsylvania and Delaware. The agency ordered a reduction in supplies for New Jersey, where 114 municipalities are under mandatory rationing, and New York City, which has invoked a "drought watch." [New York Times]
- China's purchase of two reactors from France for Peking's first nuclear-powered generating stations has been agreed to in principle, according to President Valery Giscard d'Estaing. He made the announcement after talks in Peking. [New York Times]
- A crackdown In East Germany against anti-Communist groups was announced. The warning appeared to be linked with the labor upheavals in Poland and East Germany's freeze in ties with West Germany. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 956.14 (-2.56, -0.27%)
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 16, 1980 | 958.70 | 132.22 | 65.45 |
| October 15, 1980 | 972.44 | 133.70 | 48.28 |
| October 14, 1980 | 962.20 | 132.02 | 48.79 |
| 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 |