News stories from Tuesday October 11, 1977
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Supreme Court will consider whether the death penalty can be imposed on a person who participated in a crime that led to murder but who was not involved in the actual killing. The Court will review the conviction of an Ohio woman who sat in the getaway car while her companion fatally wounded a pawnshop owner, then hid the murder weapon and directed him and two others to a hideout. [New York Times]
- President Carter's representative for trade negotiations, Robert Strauss, said he and Mr. Carter would press forward with new multinational tariff and trade agreements, meanwhile trying "to ease adjustment" by the steel industry to the competition of imports. He said the current Geneva trade talks must also deal with many other problems "and raising import barriers will not solve them." [New York Times]
- Stock prices dropped as the market reflected fears of rising interest rates and a slackening economy. The Dow Jones industrial average sank to a new 21-month low, dropping 7.88 points to close at 832.38, with only one of its 30 component issues failing to show a decline. [New York Times]
- The city of Bethlehem, Pa., home of the Bethlehem Steel Corporation, the nation's second-largest steelmaker, has been caught off balance by the corporation's layoffs and job eliminations and the fear of more to come. While most residents probably do not share the view of a local professor that the company is a dinosaur, there is growing uneasiness about what the city will do to survive in the steel industry's nationwide crisis. [New York Times]
- Israel's cabinet approved by a unanimous vote the "working paper" agreement reached by Foreign Minister Moshe Dayan and President Carter on procedures for a new Middle East peace conference. A spokesman said Prime Minister Menachem Begin had personally urged acceptance. Israel's Arab neighbors, who withheld official comment awaiting Israel's action, must now speak. [New York Times]
- The neutron bomb's deployment depends on the willingness of the other members of the North Atlantic Treaty Organization to share responsibility for placing it in Europe, the United States said at a meeting of the NATO Nuclear Planning Group in Bari, Italy. Their military men generally favor deployment but political leaders are reluctant to support it because of uncertain public reaction. [New York Times]
- The Nobel Prize in physics was awarded jointly to Dr. Philip Anderson at the Bell Telephone Laboratories, Dr. John Van Vleck of Harvard and Sir Nevill Mott of Cambridge for theoretical achievements in solid-state physics. The chemistry award goes to Dr. Ilya Prigogine, of the Free University of Brussels, for his work in non-equilibrium thermodynamics. [New York Times]
- Nigeria's head of state, Gen. Olusegun Obasanjo, is in Washington for talks with President Carter, who will visit his capital next month. These visits represent a significant shift in American policy, which now views Nigeria as the most important black African country with power to influence events throughout Africa. [New York Times]
- Soviet-American scientific exchanges should be expanded, the National Academy of Sciences has reported after a two-year study of the 18-year-old program. It called the exchanges highly valuable although in many fields it said Soviet scientists benefited more than Americans. It noted that some Americans were growing disenchanted because of Soviet treatment of dissidents, with discrimination against Jewish scientists a particularly sensitive issue. On balance, the study found, most American scientists believed that Soviet isolation from Western contacts would be even worse for Soviet dissidents. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 832.38 (-7.88, -0.94%)
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* |
| October 10, 1977 | 840.26 | 95.75 | 10.58 |
| October 7, 1977 | 840.35 | 95.97 | 16.25 |
| October 6, 1977 | 842.08 | 96.05 | 18.49 |
| October 5, 1977 | 837.40 | 95.68 | 18.30 |
| October 4, 1977 | 842.08 | 96.03 | 20.85 |
| October 3, 1977 | 851.96 | 96.74 | 19.46 |
| September 30, 1977 | 847.11 | 96.53 | 21.17 |
| September 29, 1977 | 840.09 | 95.85 | 21.16 |
| September 28, 1977 | 834.72 | 95.31 | 17.96 |
| September 27, 1977 | 835.85 | 95.24 | 19.08 |