News stories from Friday January 30, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- In the first major internal dispute of the new administration, Secretary of State Alexander Haig assailed the proposal made by David Stockman, the President's budget director, for a $2.6 billion cut in the $8.6 billion foreign aid authoriztion requested by the Carter administration for the 1982 fiscal year. Mr. Haig, backed by the Treasury Department, cited his concern for pledges made to Western allies. [New York Times]
- President Reagan's priority is the economy. He emphasized this with a series of meetings in which he told business and congressional leaders to expect deep and painful budget cuts that will mean decreased business subsidies. To place further emphasis on its economic priorities, the new administration will be reluctant to conduct a prolonged investigation of the matter of the seizure of the 52 Americans hostages in Teheran 19 months ago, an administration official said. [New York Times]
- President Reagan set up a blind trust for his investments while he is in the White House and has liquidated many of his assets to avoid any appearance of conflict of interest. The White House said that Mr. Reagan had chosen a small, Manhattan-based investment concern to deal with his property during his presidency. [New York Times]
- An economic slowdown was indicated by the government index intended to forecast future economic trends, which dropped by eight-tenths of 1 percent in December after a steady rise in the six previous months. However, most economists regarded the December decline as inconclusive. [New York Times]
- Expulsion hearings for 3,900 Haitians who have entered the United States since last Oct. 11 will be held by the Immigration and Naturalization Service. David Crosland, the agency's acting commissioner, notified all field offices to begin expulsion proceedings "against those Haitians who were encountered on or after Oct. 11, 1980 in the Miami district." [New York Times]
- New York City gave a joyous reception to 21 of the 52 freed hostages in the form of the traditional ticker-tape parade on lower Broadway. Hundreds of thousands of people lined the parade route from the Battery to City Hall or watched from windows as a procession of vintage cars, borrowed for the occa sion, went by in a deluge of ticker tape and yellow ribbons. [New York Times]
- Jean Harris denied that her suicide attempt was to be "a big last act" on the night of March 10, when Dr. Herman Tamower, her companion of 14 years, was shot to death at his home. Mrs. Harris, who is accused of his murder, says he died in a struggle for the gun. in her fourth day on the witness stand, Mrs. Harris said her original plan to was to shoot herself next to the duck pond, where Dr. Tarnower once said he wanted his ashes scattered. "My intent was to walk out," of the physician's bedroom, she said, but when she picked up her handbag and felt the weight of the gun, "I just took it out to use it there." [New York Times]
- Agreement was reached in Poland between the government and the striking Solidarity trade union on two of three key issues. The government accepted the principle of a 40-hour work week with three of every four Saturdays to be non-working days. Solidarity also won a one hour weekly television show. The third issue -- legal registration for an independent union for farmers -- was not resolved. [New York Times]
- South African troops raided Maputo, Mozambique's capital, and attacked the headquarters of the African National Congress, a political group banned in South Africa that has been responsible for a number of anti-white guerrilla attacks there. The South African army reported that "numerous" members of the group had been killed and three of its "planning and control" centers destroyed. [New York Times]
- A new Prime Minister was nominated by Spain's governing party, the Union of the Democratic Center. Deputy Prime Minister Leopoldo Calvo-Sotelo is to succeed Adolfo Suarez, who resigned Thursday following criticism from rightists and others in the party, which he twice led to victory since taking office in 1976. Mr. Calvo-Sotelo is a former industrialist and was in charge of economic affairs in the outgoing cabinet. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 947.27 (-1.62, -0.17%)
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* |
| January 29, 1981 | 948.89 | 130.24 | 38.16 |
| January 28, 1981 | 942.58 | 130.34 | 36.69 |
| January 27, 1981 | 949.49 | 131.12 | 42.25 |
| January 26, 1981 | 938.91 | 129.84 | 35.37 |
| January 23, 1981 | 940.19 | 130.23 | 37.22 |
| January 22, 1981 | 940.44 | 130.26 | 39.88 |
| January 21, 1981 | 946.25 | 131.36 | 39.19 |
| January 20, 1981 | 950.68 | 131.65 | 41.74 |
| January 19, 1981 | 970.99 | 134.37 | 36.64 |
| January 16, 1981 | 973.29 | 134.77 | 43.26 |