News stories from Thursday April 16, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A more widely fluctuating dollar in foreign exchange trading will be allowed by the Reagan administration. The Treasury Department said it would intervene to support the dollar only in emergency situations, as it did on March 30, the day President Reagan was wounded. On that day, an official disclosed, the Federal Reserve Bank of New York, acting for the Treasury, used foreign currencies to buy $79 million worth of dollars. [New York Times]
- Hopes for rescuing 15 miners dimmed with each hour as six crews of workers painstakingly inched their way to within 1,800 feet of the men trapped more than a mile from the entrance of a coal mine in western Colorado. The 15 were trapped Wednesday afternoon when an explosion ripped through the shaft with hurricane force. [New York Times]
- Senate Democrats are deeply divided over the direction to take in countering the initiatives of the new Republican majority. Many believe that the political strategy that the Democrats adopt will be critical in determining whether they regain control of the Senate or the Republicans strengthen their current majority of seven. [New York Times]
- President Reagan went outdoors, strolling in the Rose Garden for the first time since his release from the hospital last Saturday. Meanwhile, his budget director led an administration attack on a congressional study that charged that the President's economic program would harm more than eight million low-income families. [New York Times]
- Charges of anti-Semitism prompted the Reagan administration to announce that the nomination of Warren Richardson to a high post in the Department of Health and Human Services was "under review." Mr. Richardson has been strongly criticized for his work as the chief lobbyist for the rightist Liberty Lobby and for an article he wrote in 1971 assailing the "pro-Zionist" press. [New York Times]
- The next space shuttle set to fly, a year or so after the Columbia's test missions, stands amid scaffolding in a huge assembly hangar in Palmdale, Calif., and is expected to be ready for delivery to the space agency in 14 months. An official with the contractor said that the production schedule of the second shuttle, to be called the Challenger, was significantly ahead of that of the Columbia. [New York Times]
- Boston's financial problems multiplied as unexpected revenue shortages were reported. The school system spent the last of a $210 million appropriation on the eve of a 10-day spring vacation with no prospect of a political accord that would allow the system to reopen for the rest of the school year. [New York Times]
- The prospect of preliminary arms talks on resuming negotiations to limit American and Soviet nuclear weapons in Europe was raised by Secretary of State Alexander Haig. His aides said that full negotiations were probably months away. [New York Times]
- Israeli jets staged raids in Lebanon, striking at several suspected Palestinian guerrilla strongholds. Earlier, two teenaged Palestinian guerrillas trying to enter Israel by balloon were shot down and killed in a gunfight with Israeli soldiers. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 1005.58 (+3.87, +0.39%)
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* |
| April 15, 1981 | 1001.71 | 134.17 | 56.03 |
| April 14, 1981 | 989.10 | 132.68 | 48.39 |
| April 13, 1981 | 993.16 | 133.15 | 49.85 |
| April 10, 1981 | 1000.27 | 134.51 | 58.12 |
| April 9, 1981 | 998.83 | 133.92 | 59.54 |
| April 8, 1981 | 993.43 | 134.31 | 48.04 |
| April 7, 1981 | 992.89 | 133.91 | 44.54 |
| April 6, 1981 | 994.24 | 133.93 | 43.11 |
| April 3, 1981 | 1007.11 | 135.49 | 48.68 |
| April 2, 1981 | 1009.01 | 136.32 | 52.57 |