News stories from Monday November 17, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Busing received a major setback in the Senate. Voting 51 to 35, the chamber approved a bill that would prohibit the Justice Department from using appropriations to pursue any legal case that would result in a school busing order to remedy segregation. The bill also includes a provision to bar funds for the Carter administration's curtailment of grain sales to Moscow. The House has passed a similar antibusing measure, but no grain funds cutoff. [New York Times]
- Ronald Reagan is courting a broad range of the establishment in his first visit to the District of Columbia since his election. The President-elect will pay his respects to both the Democratic and Republican leaders in Congress, President Carter, liberals and moderates as well as conservatives and, in an unexpected move, he will dine with local leaders, most of them Democrats, who are often overlooked by national politicians. Mr. Reagan said it would take time to carry out and achieve results from his program of spending cuts and government reorganization. [New York Times]
- An upgrading of missile deployment is sought as an early priority by the incoming administration, according to Pentagon aides. They said that military experts close to President-elect Reagan had begun talks with senior Air Force officers on acclerating the service's plans for deployment of a mobile missile system. [New York Times]
- A plan to set a subminimum wage for young people to stimulate their employment has become the subject of an intense debate since the election of Mr. Reagan. The effects of the minimum wage have stirred a deep division among economists. [New York Times]
- A Klan murder trial ended in acquittals issued by an all-white jury in Greensboro, N.C., after seven days of deliberation. It found six present or former members of the Ku Klux Klan and Nazi Party not guilty of five counts each of first-degree homicide. The charges stemmed from a rally a year ago in which four white men and a black woman were fatally wounded while preparing for a "Death to the Klan" protest that was sponsored by the Communist Workers Party. [New York Times]
- The separation of church and state was upheld in a decision in Manhattan by a federal appeals court, which ruled that a group of students could not hold prayer meetings in a public school in upstate New York. The Court of Appeals held that the authorization of such meetings would create "an improper appearance of official support" for religion.
Church-state separation was also upheld in a 5-to-4 ruling by the Supreme Court. It struck down as an unconstitutional establishment of religion a two-year-old Kentucky law that required the posting of a copy of the Ten Commandments in every public school classroom in the state.
[New York Times] - The population surge in the Sun Belt has been even greater than expected, according to the Census Bureau. It announced that it had counted 226 million Americans in April, four million more than had been estimated, and that virtually all the increase in the last decade was in the South and West, which will gain in House representation at the ex-pense of the Northeast and the Middle West. [New York Times]
- Major crime is soaring toward record levels in New York City, according to Police Department statistics. In the first eight months of 1980, reports of felonies totaled 407,630, an increase of 18.7 percent over the same period in 1979 and 11.1 percent over the same period in 1976, the previous peak year for serious crimes. [New York Times]
- Heavy fighting was reported for the fourth day in the Iranian town of Susangird, and Iran and Iraq issued contradictory statements about the progress of the conflict. [New York Times]
- Officials of several Arab countries arrived in Amman to prepare for a planned Arab League conference that may not be held. There was doubt whether some countries would attend because of deteriorating relations between key Arab states and differences over the Iran-Iraq war. [New York Times]
- Washington denounced Moscow for the Soviet intervention in Afghanistan, questioned the seriousness of the Soviet commitment to peaceful relations and warned that NATO would "not concede military superiority" to the Soviet Union. The United States made the statement at the 35-nation conference on human rights and cooperation in Europe.
Improved cooperation in NATO between Western Europe and the United States is in prospect as the Reagan administration takes office, according to Prime Minister Margaret Thatcher of Britain and Chancellor Helmut Schmidt of West Germany. They ended two days of talks in Bonn.
[New York Times]
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Stock Market Report
Dow Jones Industrial Average: 986.26 (-0.09, -0.01%)
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 14, 1980 | 986.35 | 137.15 | 71.63 |
| November 13, 1980 | 982.42 | 136.49 | 69.33 |
| November 12, 1980 | 964.93 | 134.59 | 58.51 |
| November 11, 1980 | 944.03 | 131.26 | 41.52 |
| November 10, 1980 | 933.79 | 129.48 | 35.72 |
| November 7, 1980 | 932.42 | 129.18 | 40.06 |
| November 6, 1980 | 935.41 | 128.91 | 48.89 |
| 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 |