News stories from Monday October 12, 1981

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

The prospect of slow economic growth, and perhaps a recession lasting through next spring, has been acknowledged increasingly by officials of the Reagan administration. The aides, who are fearful about rising unemployment, are seeking to prevent the downturn from damaging Republicans in next fall's elections. [New York Times] The marketing of sensitive technology abroad was pressed in the 1970's by two former C.I.A. agents with the assistance of a small California electronics company, according to present and former executives of the concern and its documents. The two former agents, Edwin P. Wilson and Frank E. Terpil, were indicted last year on charges of illegally shipping explosives to Libya. [New York Times] Philadelphia's teachers defied a court order to return to work as the city's bitter school walkout entered its 35th day. The strikers picketed the schools and shouted insults at teachers who crossed picket lines. [New York Times] Ex-Representative Brooks Hays died in Bethesda, Md., at the age of 83. The Arkansas Democrat was a voice of moderation on civil rights during 16 years in Congress. [New York Times] Valium will be scrutinized again. Whether the drug and other tranquilizers are as dangerous to unsuspecting users as critics contend will be among the items to be debated next month by scientific advisers to the World Health Organization. Prescriptions for Valium, which was for years the most popular drug in the United States, plunged nearly 50 percent from 1975 to 1980. [New York Times] A New Jersey gubernatorial debate was held by the two major-party candidates. Thomas Kean, the Republican, asserted that the present Democratic administration in Trenton was responsible for small business failures and high unemployment. James Florio, the Democrat, said that the main fiscal problem facing the next governor would be in dealing with the federal cuts initiated by the Reagan administration. [New York Times] Egypt has dismissed 18 army officers, described as Moslem religious fanatics, since the assassination of President Anwar Sadat. A close friend of his also disclosed that Mr. Sadat had said that Islamic extremists, including an Egyptian intelligence officer, plotted to kill him during a public appearance on Sept. 26 but that the plot was discovered and thwarted by the police. [New York Times] A seeming breakdown in security and the element of surprise transformed what should have been a suicide mission for the assassins into the swift murder of President Sadat, in the opinion of three American experts. The experts, former Secret Service agents who have guarded Presidents, examined a series of photographs of the assassination and agreed that Egyptian security forces appeared confused, outgunned, poorly stationed and slow to respond to the assault. [New York Times] Fear of Libya's invasion of the Sudan by way of Chad was expressed by Gen. Gaafar al-Nimeiry, the Sudanese President. In an interview, he said he expected the invasion to begin soon and to be supported by the Soviet Union and its allies. [New York Times] U.S. arms shipments to the Sudan will be accelerated, according to United States sources in Khartoum. The deliveries will reportedly include advanced anti-tank weapons and, possibly, sophisticated aircraft such as the F-16 fighter. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 869.48 (-3.52, -0.40%)
S&P Composite: 121.21 (-0.24, -0.20%)
Arms Index: 1.15

	Issues	Volume*
Advances	751	12.67
Declines	705	13.69
Unchanged	386	3.67
Total Volume		30.03

* 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
Date	DJIA	S&P	Volume*
October 9, 1981	873.00	121.45	50.06
October 8, 1981	878.14	122.31	47.08
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