News stories from Monday December 1, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Another U.S. reply on the hostages held by Iran is being taken to Algiers by Deputy Secretary of State Warren Christopher. State Department officials said that Mr. Christopher and his aides would remain in Algeria as long as necessary to brief the Algerian intermediaries thoroughly on the "clarifications" sought by Iran to Washington's original response to the conditions for freeing the captives. [New York Times]
- Caspar Weinberger is a prospect for a major cabinet post, possibly Secretary of Defense, well-placed Republican sources said. They also reported that Alexander Haig, the former NATO commander, was likely to be appointed Secretary of State.
The withdrawal of William Simon as a candidate for Treasury Secretary was apparently due as much to strong opposition by a number of Republican leaders, particulary moderates, as to the personal considerations cited Friday by Mr. Simon, according to key Republican sources.
[New York Times] - The Reagan team at the Pentagon has begun work on a substantial innovation in military planning by extending long-range projections for military spending from five years to eight years, according to aides of the President-elect. They said that the extended projection would enable him to present the first draft of his military strategy. [New York Times]
- A major civil rights bill to curb discrimination in housing was brought to the Senate floor by the Democratic caucus, but the measure immediately faced a filibuster by the Republicans, who will control the next Senate. The filibuster occurred as the 96th Congress, facing an uncertain agenda, began what the leadership hoped would be its final week. [New York Times]
- An assassination theory was disavowed by the F.B.I. The bureau said that its laboratory analysis of acoustical evidence from Dallas lent no support to the theory that a second gunman was involved in the slaying of President Kennedy in 1963. [New York Times]
- Resettlement of Indochinese refugees in the United States at an annual cost of $1 billion is attracting people from Vietnam and Laos who should stay at home, according to a study released by a joint congressional committee. The staff report said that most recent arrivals were not members of harassed groups and did not have close family ties in this country. [New York Times]
- Major faults in health care for children are widespread in most American cities, according to pediatric specialists. They say that the health and lives of many children are being jeopardized by a penny-wise and pound-foolish system that squanders government funds and significantly discriminates against the poor and near-poor. [New York Times]
- Continuing Syrian troop movements were reported near the Jordanian frontier, prompting King Hussein to describe the threat of an attack as "grave." In an interview, the King said that he had asked the United States and other Western countries to speed the delivery of arms already ordered by Jordan. [New York Times]
- Italy's army is now in charge of efforts to help the survivors of the Nov. 23 earthquake that killed more than 3,000 people in southern Italy. Officers acknowledged that many lives could have been saved if expert military teams had been landed immediately by helicopters in every stricken town and had reported by radio to a central command on what was needed. [New York Times]
- A Soviet economic slowdown was confirmed in Moscow's disclosure of its first goals for a new five-year plan ending in 1985. The plan calls for an increase in industrial growth, but only a slight rise in the production of oil or of such staples as grain and meat. [New York Times]
- Moscow has granted aid to Poland equivalent to $1.3 billion to help ease the country's economic problems, Stanislaw Kania, the Communist leader, said. Addressing the Central Committee in Warsaw, he emphasized that Poland's leadership had maintained close links with the Soviet Union. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 969.45 (-23.89, -2.41%)
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 28, 1980 | 993.34 | 140.52 | 34.27 |
| November 26, 1980 | 989.68 | 140.17 | 55.34 |
| November 25, 1980 | 982.68 | 139.33 | 55.83 |
| November 24, 1980 | 978.75 | 138.31 | 51.13 |
| November 21, 1980 | 989.93 | 139.11 | 55.93 |
| November 20, 1980 | 1000.17 | 140.40 | 60.17 |
| November 19, 1980 | 991.04 | 139.06 | 69.24 |
| November 18, 1980 | 997.95 | 139.70 | 70.38 |
| November 17, 1980 | 986.26 | 137.75 | 50.30 |
| November 14, 1980 | 986.35 | 137.15 | 71.63 |