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Tuesday November 11, 1980
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News stories from Tuesday November 11, 1980


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

  • No speedy Iranian response is expected by the United States to its reply to Iran's conditions for the release of the 52 American hostages. As a result, Deputy Secretary of State Warren Christopher ended his mission to Algeria after 30 hours and flew back to Washington. The American note is to be delivered by Algeria's Ambassador to Iran, who conferred in Algiers with Mr. Christopher.

    Doubt about a early end to the crisis over the hostages was expressed by an Iranian official who said he had been informed of Washington's reply. But the official said he thought a settlement was possible before Ronald Reagan becomes President on Jan. 20. [New York Times]

  • Iraq is said to be seeking arms imports from such countries as Britain, France, Czechoslovakia and Bulgaria to press the war with Iran. A top Iraqi official flew to Moscow amid reports of a curtailment of arms supplies to Iraq by the Soviet Union. [New York Times]
  • American troops arrived in Egypt to take part in joint exercises with Egyptian forces. The arrival of the advance party of a 1,400-member unit of the Rapid Deployment Force reflects the close military ties between the two countries since the Soviet intervention in Afghanistan last December. [New York Times]
  • The lame-duck session of Congress, which is to begin tomorrow, is expected to be brief, highly partisan and focused on budget and appropriations bills. The House Budget Committee approved a $631.7 billion budget for the current fiscal year, with a $25 billion deficit that a Republican leader said constituted "playing political games" with President-elect Ronald Reagan. [New York Times]
  • A Democratic Party rebuilding effort on the rubble of last week's crushing defeats has begun amid deep doubts over whether John White will continue as the national chairman. There is a general agreement that the chairman should be a good spokesman, skilled in fundraising, helpful to congressional and state candidates and neutral between Senator Edward Kennedy and Vice President Mondale. However, there is little consensus on who fits that bill. [New York Times]
  • An ideological fight among Democrats was apparently signaled by Senator Daniel Patrick Moynihan, who said he would resist efforts by the most "left wing" backers of Senator Edward Kennedy to take over the party. The New York Democrat said he was not singling out Mr. Kennedy or most of his supporters, whom he described as centrists like himself. [New York Times]
  • A major setback for Edward Kennedy as well as other Senate panel chairmen is occurring because of the Democrats' loss of control of the Senate in the elections. Senator Kennedy will lose the chairmanship of the influential and well-staffed Judiciary Committee ano also two subcommittees dealing with health and energy issues. All three have been major national forums for Mr. Kennedy. [New York Times]
  • Republicans and conservatives are already campaigning for the 1982 elections. The National Conservative Political Action Committee, which spent $4.5 million working to defeat liberal legislators this year, announced the names of 20 Senators, most of them liberal Democrats, whom it would like to see defeated. [New York Times]
  • The transition of authority in foreign and military policy and intelligence is to be directed by several panels formed by advisers to President-elect Reagan, Republican officials said. [New York Times]
  • A South African concession to non-whites was indicated by the government. It announced that on Jan. 1 it would start phasing in compulsory education for the country's eight million non-white children. [New York Times]
  • A hunger strike by 139 Soviet Jews in Moscow and six other Soviet cities to protest official restrictions on Jewish emigration was reported by Soviet Jewish sources. [New York Times]
  • An East-West conference opened without an agenda because of a procedural deadlock. The 35-nation conference on human rights and cooperation in Europe was convened in Madrid after a day of parliamentary disorder. A panel will try to work out ground rules to guide future proceedings. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 944.03 (+10.24, +1.10%)
S&P Composite: 131.26 (+1.78, +1.37%)
Arms Index: 0.48

IssuesVolume*
Advances1,06730.79
Declines4886.72
Unchanged3614.01
Total Volume41.52
* 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*
November 10, 1980933.79129.4835.72
November 7, 1980932.42129.1840.06
November 6, 1980935.41128.9148.89
November 5, 1980953.16131.3384.29
November 3, 1980937.20129.0436.62
October 31, 1980924.29127.4740.11
October 30, 1980917.75126.2939.06
October 29, 1980929.18127.9137.20
October 28, 1980932.59128.0540.30
October 27, 1980931.74127.8834.44


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