News stories from Wednesday April 1, 1981

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

President Reagan continued recovery from the chest wound he suffered Monday in an assassination attempt. His physician said that Mr. Reagan was making "excellent progress toward full recovery," but aides limited his schedule to avoid tiring him and because he was expected to be in increasing physical pain. He was moved from an intensive care ward to a private hospital suite. [New York Times] John W. Hinckley, accused of shooting President Reagan, underwent psychiatric examination as federal investigators collected more evidence suggesting he had been planning to attack the President for some time. Officials said that searches had uncovered itineraries for presidential trips and material about assassinations.The search for a possible motive in the assassination attempt centered on notes from the suspect received by Jodie Foster, the actress. She said that none of the letters contained "any mention, reference or implication as to violent acts against anyone, nor was the President ever mentioned." [New York Times] James Brady, the White House press secretary, continued an unusually rapid recovery from a gunshot wound in the head. The White House said that Mr. Brady, who underwent brain surgery, was able to breathe without a respirator and to speak. [New York Times] Cuts in Medicare are being sought by key Senate Republicans. Congressional aides said that the Senators were seeking to reduce as much as $1 billion from the rapidly growing aid program for the elderly that the administration has left virtually untouched in its budget-cutting proposals. [New York Times] Senate budget-cutters held sway on the floor as the majority kept untouched a package of $36.4 billion in reductions from the budget proposed by the Carter administration. Dispirited Democrats made a dozen foredoomed efforts to restore social welfare funds in a strategy aimed at next year's congressional elections. [New York Times] The future of coal labor talks was in doubt after the unexpectedly sharp rejection of a proposed pact by members of the United Mine Workers union. The chief negotiator for the struck coal companies said that they had "no plans to resume negotiations" and that the vote on ratification reflected "a disturbing lack of bargaining discipline" in the union. [New York Times] A videotape of Harrison Williams showed him telling undercover agents that he could "with great pleasure" talk to the President about a mining venture in which Senator Williams, Democrat of New Jersey, also agreed to have a concealed interest. The videotape was played at his Abscam trial on bribery charges. [New York Times] A major revamping in the Pentagon has been ordered by Defense Secretary Caspar Weinberger. He is delegating greater planning authority to the service secretaries and to the Joint Chiefs of Staff in an effort to free himself to focus on policy and he is revising the way that annual and long-range military budgets are prepared. [New York Times] A drug that aids heart-attack victims was cited in a large-scale study. It found that use of the drug Timolol after heart attacks had reduced the patients' overall risk of death by almost 40 percent. The study also found that there were significantly fewer second heart attacks among the drug-treated group than among comparable patients who did not use the drug. [New York Times] An invasion of Nicaragua is planned by right-wing exiles now in neighboring Honduras in an effort to topple the 20-month-old left-wing government. Exile leaders asserted that a 600-member force in Honduras would soon be joined by thousands of supporters from Guatemala and Miami. [New York Times] A Soviet-American feud over television was confirmed by the State Department. It said that the Reagan administration had denied a visa extension to Georgi Arbatov, Moscow's leading expert on the United States, to prevent him from taking part in a televised debate. The action, officials said, was taken in response to Moscow's refusal to allow American officials to appear on Soviet television. [New York Times] A reported coup in Thailand may involve only a military power struggle. Prime Minister Prem Tinsulanonda announced in a broadcast from a provincial capital that he was still in office and supported by the King. Several army commanders whom the revolutionary leader asserted were backing the bloodless revolt denied any association with him. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1014.14 (+10.27, +1.02%)
S&P Composite: 136.57 (+0.57, +0.42%)
Arms Index: 0.74

	Issues	Volume*
Advances	932	32.50
Declines	614	15.81
Unchanged	379	6.57
Total Volume		54.88

* 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*
March 31, 1981	1003.87	136.00	50.97
March 30, 1981	992.16	134.28	33.49
March 27, 1981	994.78	134.65	46.93
March 26, 1981	1005.76	136.27	60.37
March 25, 1981	1015.22	137.11	56.34
March 24, 1981	996.13	134.67	66.40
March 23, 1981	1004.23	135.69	57.87
March 20, 1981	992.80	134.08	61.97
March 19, 1981	986.58	133.46	62.44
March 18, 1981	994.06	134.22	55.74