Select a date:      
Tuesday June 2, 1981
. . . where the 1970s live forever!

News stories from Tuesday June 2, 1981


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

  • Stringent curbs on Medicaid abortions were ratified by House and Senate conferees after they rejected a House- passed measure that would have forbidden medical insurance payments for abortions for federal employees. The conferees also rejected a House proposal to prohibit the use of federal funds to implement affirmative action programs. [New York Times]
  • New welfare and Medicaid cuts quietly approved by House and Senate committees have aroused the concerns of many governors and social scientists. The plans would significantly alter the formulas for the federal financing of two major programs for the poor and, in long-term effect, appear to go beyond reductions proposed by the Reagan administration. [New York Times]
  • A tax-relief fight was in prospect in Congress. In a challenge to President Reagan's three-year program, Demo-rats on the House Ways and Means Committee began drawing up a two-year proposal. A Democratic member said there was an informal agreement on a first-year cut of 5 percent and a 10 percent reduction in 1982. [New York Times]
  • Blacks' political influence has ebbed to its lowest level in two decades. Black leaders, facing a popular administration determined to cut the government programs they hold dear, lack the wholehearted support from liberals they once counted on. The erosion is attributed variously to white racism, selfishness and impatience, the persistent poverty and crime in the so-called black underclass, a widening gap between black leaders and the very poor, black rhetoric and the decline of the big-city political machines. [New York Times]
  • A new migration of workers is underway. A generation ago, millions of job seekers left the South to work in the factories and mills of the Middle West. Now, with the retrenchment of the auto industry, the flow has reversed and many blue-collar workers have left the Middle West and Northeast, settling in Houston, whose surging economy has made it the worker's mecca that Detroit once was. Houston has attracted at least five groups of economic nomads in the last 20 years. [New York Times]
  • The Air Force mishandled an inquiry of an officer accused of having made unauthorized visits to the Soviet Embassy, according to Justice Department officials. One official said that Air Force investigators had "botched" the case by promising immunity to Lt. Christopher Cooke in return for his promise to cooperate with their initial inquiry. [New York Times]
  • James Florio and Thomas Kean won the major party nominations for Governor of New Jersey in the most expensive and controversial primary election in the state's history. Representative Florio of Runnemede was victorious over 12 other Democratic contenders and Mr. Kean of Livingston, a former state Assembly Speaker, defeated seven other Republican aspirants. [New York Times]
  • Firmness on his rights nominee was ex-pressed by President Reagan. Senate allies warned him to expect a hard confirmation fight over Ernest Lefever as the administration's chief human rights official, but Mr. Reagan said he would not retreat "one inch" from the controversial nomination. [New York Times]
  • Bangladesh announced the arrest of 20 army officers involved in last weekend's coup attempt and said that three of them, including the leader, had been killed soon after being seized. Hundreds of thousands of grieving Bangladeshis, many of them in tears, attended the solemn funeral procession of the assassinated President, Ziaur Rahman. [New York Times]
  • Soviet tanks may be in Nicaragua, according to unverified reports received by the State Department. The reports said that the tanks had been transported from Cuba. [New York Times]
  • Unity against Libyan interventionism was proposed by the Reagan administration, which said it would support all African countries that want to resist such activities. A high State Department official said that Libya was training guerrillas and terrorists from many countries. [New York Times]
  • The sale of advanced jets to Venezuela will soon be approved by President Reagan, according to administration officials. The step would reverse long-standing American policy against the introduction of sophisticated arms in Latin America. The officials said that the decision to sell a limited number of F-16 fighters had been endorsed by senior officials at both the State and Defense Departments. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 987.48 (-10.48, -1.05%)
S&P Composite: 130.62 (-1.79, -1.35%)
Arms Index: 1.57

IssuesVolume*
Advances47810.54
Declines1,13439.33
Unchanged3314.06
Total Volume53.93
* 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
DateDJIAS&PVolume*
June 1, 1981997.96132.4162.16
May 29, 1981991.75132.5951.58
May 28, 1981994.25133.4559.50
May 27, 1981993.14133.7758.73
May 26, 1981983.96132.7742.76
May 22, 1981971.72131.3340.70
May 21, 1981976.59131.7546.79
May 20, 1981976.86132.0042.37
May 19, 1981980.01132.0942.21
May 18, 1981985.77132.5442.51


Copyright © 2014-2024, All Rights Reserved   •   Privacy Policy   •   Contact Us   •   Status Report