News stories from Friday November 26, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A proposal to tax jobless benefits to make them "less attractive" would be dropped by the Reagan administration, a White House official said, because of widespread opposition. [New York Times]
- The deployment of the MX missile would not violate accords limiting strategic arms, the Reagan administration said in response to assertions the Soviet party newspaper Pravda. A detailed rebuttal was issued by the State Department. [New York Times]
- Fire engulfed a full downtown block in the main shopping area of Minneapolis. Damage from the five alarm blaze, which burned out of control for 12 hours, was estimated at up to $30 million. [New York Times]
- Electricity for a Hawaiian island whose power lines were broken by Hurricane Iwa might come from a nuclear submarine. The Navy ordered the U.S.S. Indianapolis to prepare to supply power for the island of Kauai, which has been without electricity for several days. The submarine is capable of providing 1,500 kilowatts of power for the island's biggest town, Lihue, the Navy said. [New York Times]
- A star in the constellation Vulpecula is being scrutinized intently by astronomers, who believe that it may be flashing on and off almost 642 times a second. That extraordinarily rapid pulse rate has already been observed in the radio emissions of a pulsar, or pulsating star. [New York Times]
- The P.L.O.'s leaders denounced President Reagan's proposal for self-rule for Palestinians in Israeli-occupied territories in association with Jordan. The statement followed a stormy meeting of the Palestine Liberation Organization's Central Council, a 60-member consultative group. It said the Reagan plan for Palestinian autonomy in the West Bank and Gaza Strip did not "satisfy the inalienable national rights of our people," but it did not say that the entire plan was unacceptable. [New York Times]
- The worldwide economic slowdown has caught up with the centrally planned Communist economies in Eastern Europe. Poland's empty shop windows are only one manifestation of the hard times afflicting the region. Moscow's East European satellites are also weighted down by an immense burden of foreign debt and can no longer hope to borrow their way out of trouble as they did in the past, But the economic stagnation is leading some governments to re-examine their commitment to classic Communist economic dogma. [New York Times]
- Taiwan's reunification with China could come about through its being run as a new special administrative zone. A senior Chinese official said that the new state constitution to be adopted soon would so designate Taiwan. [New York Times]
- South Africa rejected any suggestion that Cuban troops in Angola could be replaced by a foreign peacekeeping force to break the impasse in talks to negotiate independence for neighboring South-West Africa. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 1007.36 (+7.36, +0.74%)
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 24, 1982 | 1000.00 | 133.88 | 67.15 |
| November 23, 1982 | 990.99 | 132.93 | 72.92 |
| November 22, 1982 | 1000.00 | 134.22 | 74.96 |
| November 19, 1982 | 1021.25 | 137.02 | 70.30 |
| November 18, 1982 | 1032.10 | 138.34 | 77.62 |
| November 17, 1982 | 1027.50 | 137.93 | 84.44 |
| November 16, 1982 | 1008.00 | 135.42 | 102.91 |
| November 15, 1982 | 1021.43 | 137.03 | 78.89 |
| November 12, 1982 | 1039.92 | 139.53 | 95.08 |
| November 11, 1982 | 1054.73 | 141.76 | 78.39 |