News stories from Thursday October 8, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Three former Presidents met with President Reagan at the White House, shortly before the three -- Jimmy Carter, Gerald Ford, and Richard Nixon -- departed for Egypt as part of the American delegation to the funeral of Anwar Sadat. Earlier in the day Mr. Reagan extended an invitation to Mr. Sadat's designated successor, Hosni Mubarak, to visit the United States in 1982. [New York Times]
- The assassination investigation in Cairo continued as Egyptian leaders tried to determine how four men evaded security measures at the military parade where President Sadat was killed. The investigation focuses on how the men were able to insinuate themselves into the parade, leap from a truck at precisely the right moment and shoot the President despite the presence of guards. [New York Times]
- Egyptian Moslems fought police in Asyut, in Upper Egypt, and several people were killed. The clashes occurred as the police tried to stop Moslem fundamentalists from marching in prayer in the streets in defiance of a government ban on public gatherings after the assassination. Such marches are a custom on the first day of Eid al Adha, the Moslem feast of the sacrifice. In other parts of Egypt, including Cairo, worshipers complied with the ban and prayed inside mosques. [New York Times]
- Tensions between Libya and Egypt along their common border have heightened in the aftermath of the assassination. According to administration officials, border forces in both countries have been placed on "high alert" in what appear to be precautionary moves. Elements of the U.S.'s Sixth Fleet in the Mediterranean and of the Rapid Deployment Force are on "increased readiness." [New York Times]
- Steps to aid nuclear power were laid out by the Reagan administration. The plan to revive commercial involvement in the nuclear power industry will include an immediate lifting of President Carter's 1977 ban on the reprocessing of spent utility fuel. Top priority will be given to recommendations on speeding licensing procedures for new plants so they could be built in in six to 8 years rather than the current 10-to-14-year timetable. [New York Times]
- Food stamp fraud will be tackled by the federal government with the requirement that recipients in major cities have photographic identification cards. The new rule, which will have the force of law, will be required in 17 of the nation's largest cities, including New York, Newark, Washington, Chicago, Atlanta, Detroit and Los Angeles. [New York Times]
- Sears will buy Dean Witter Reynolds, the nation's fifth-largest stock broker, the retail chain announced. Sears will Pay $807 million in cash and stock. The purchase was seen as a major step in the Sears goal to become the nation's "largest consumer-oriented financial service entity." [New York Times]
- A nuclear submarine radio system has been approved by President Reagan. The communication system, known as ELF, for extremely low frequency, will be used to transmit orders to submarines armed with nuclear ballistics missiles. The system is part of a comprehensive arms program Mr. Reagan disclosed last week. [New York Times]
- The space shuttle's second flight is now scheduled to begin Nov. 4, officials of the National Aeronautics and Space Administration said. The flight, originally scheduled for launching Sept. 30, was delayed after an accident in which several hundred of the vehicle's heat-resistant tiles were damaged. [New York Times]
- A federal ban on home manufacturing of knitted outerwear was lifted by the Labor Department. Although the long standing rule against production and sale of homemade knitwear was eliminated, the Department left standing a prohibition of industrial "homework" in six other industries. [New York Times]
- Former President Carter plans to sue The Washington Post for libel over a gossip column item charging that he and his wife, Rosalyn, eavesdropped on some of Nancy Reagan's conversations during her pre-inaugural residence at Blair House, an attorney for the Carters said. But the Post's executive editor, Benjamin Bradlee, said his newspaper stood behind the report. [New York Times]
- To attract Northern Irish Protestants to the idea of unification with the Irish Republic, the Dublin government is considering steps to reduce the official status of the Roman Catholic Church. The government has ordered a new study of possible changes in the areas in which Catholic dogma has influenced the state. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 878.14 (+9.42, +1.08%)
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 7, 1981 | 868.72 | 121.31 | 50.02 |
| October 6, 1981 | 856.26 | 119.39 | 45.45 |
| October 5, 1981 | 859.87 | 119.51 | 51.28 |
| October 2, 1981 | 860.73 | 119.36 | 54.57 |
| October 1, 1981 | 852.26 | 117.08 | 41.59 |
| September 30, 1981 | 849.96 | 116.18 | 40.70 |
| September 29, 1981 | 847.89 | 115.94 | 49.79 |
| September 28, 1981 | 842.56 | 115.53 | 61.32 |
| September 25, 1981 | 824.01 | 112.77 | 54.39 |
| September 24, 1981 | 835.14 | 115.01 | 48.88 |