News stories from Thursday November 6, 1980

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

Iran appears to have sharply slowed its efforts to deal with the hostage crisis since Mr. Reagan's election victory. The spiritual leader of Teheran, who is a member of the Iranian Parliament's commision on the hostages, said that it might take months before the captives could be released. [New York Times] Iran's oil minister is receiving urgent medical care, Iraq announced. It said that the official, who was captured by Iraqi forces a week ago near the besieged Iranian city of Abadan, had been found wounded and bleeding and was under treatment to "save his life." Heavy fighting for control of the oil refinery center of Abadan was reported by both sides. [New York Times] Ronald Reagan began his transition to the White House, but stressed in answers to questions at a news conference that he was "not going to intrude" in such matters as the hostage negotiations with Iran because Jimmy Carter was "still the President." The President-elect named William Casey, the former head of the Securities and Exchange Commission, to be chairman of his transition team. [New York Times] Some Reagan foreign policy positions were outlined by the President-elect at a news conference. Mr. Reagan said that future negotiations with Moscow on arms control and other issues should be pursued only in the context of Soviet "policies of aggression" around the world. He also indicated that he would initiate a consistent worldwide policy regarding violations of human rights.Soviet readiness to negotiate with the West on nuclear arms control and other issues was affirmed in Moscow by the new Prime Minister, Nikolai Tlkhonov. Taking note of Mr. Reagan's election, the Soviet leader expressed the hope that the new administration would take "a constructive approach" to Soviet-U.S. relations. [New York Times] Goals of new Republican leaders in the Senate were announced, some of them at variance with campaign promises made by Mr. Reagan. Senator Bob Dole, who is to take over the Finance Committee in January, termed inflationary a proposal to cut taxes 10 percent a year for three years. Senator Strom Thurmond, the next chairman of the Judiciary Committee, took issue with a plan to appoint federal judges who oppose abortion. [New York Times] Advocates of women's rights lost severely in Tuesday's elections. The conservative Republican sweep ousted some of the leading defenders of feminist goals in Congress and state legislatures. Many of them were replaced by candidates opposed to major feminist priorities. [New York Times] New York City could lose some U.S. aid as a result of the Republicans' winning of the presidency and a majority in the Senate, according to Governor Carey. He said $600 million of federal assistance contained in the city's financial plan could be jeopardized.Alfonse D'Amato made a peace bid in New York City, expressing a desire to cooperate with Democratic administrations there and in Buffalo. The Republican Senator-elect said he was opposed to a broad dismantling of social and federal-aid programs. [New York Times] Atlanta is getting outside police aid in the investigation of the unsolved murders of 11 black children and the disappearance of four others, the city announced. It said that five leading homicide detectives from other cities across the nation and two special agents of the F.B.I. would help try to solve the crimes, which have deeply troubled the Georgia city. [New York Times] Two ex-F.B.I. officials were convicted of conspiring to violate the constitutional rights of Americans by authorizing government agents to break into homes secretly and without warrants in a hunt for bombing suspects in 1972 and 1973. A federal jury reached the verdict against Mark Felt and Edward Miller after about eight hours of deliberation. Defense lawyers said they planned appeals. [New York Times] Wondrous discoveries about Saturn and the planet's rings are being revealed by photographs from Voyager 1. The spacecraft's latest photos show rings within the rings and reveal a dusting of particles filling the gaps between the major rings. [New York Times] A TV station for New Jersey is an increasing prospect. The Federal Communications Commission took a preliminary step toward ordering the transfer of WOR's Channel 9 from New York City to the Garden State. The vote was 5 to 2. The licensee is appealing the transfer in court. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 935.41 (-17.75, -1.86%)
S&P Composite: 128.91 (-2.42, -1.84%)
Arms Index: 1.18

	Issues	Volume*
Advances	268	6.52
Declines	1,391	39.83
Unchanged	285	2.54
Total Volume		48.89

* 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*
November 5, 1980	953.16	131.33	84.29
November 3, 1980	937.20	129.04	36.62
October 31, 1980	924.29	127.47	40.11
October 30, 1980	917.75	126.29	39.06
October 29, 1980	929.18	127.91	37.20
October 28, 1980	932.59	128.05	40.30
October 27, 1980	931.74	127.88	34.44
October 24, 1980	943.60	129.85	41.03
October 23, 1980	939.51	129.53	49.19
October 22, 1980	955.12	131.92	43.06