News stories from Tuesday November 17, 1981
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Reagan has known for two months that his national security adviser, Richard Allen, received a $1,000 cash payment from a Japanese journalist who interviewed Mrs. Reagan one day after the inauguration, the White House spokesman said. He also said, that in the 60 days in which the secret inquiry has been underway, the White House had made no decision on whether the matter would ever be made public. [New York Times]
- Implicitly conceding that the recession will be neither mild nor brief, President Reagan's chief economic adviser, Murray Weidenbaum, scaled back his forecast for economic growth next year. Instead of the 3.4 percent gain predicted by the administration in July, he said he expected growth of only 1 percent. [New York Times]
- A budget compromise was offered by President Reagan. He informed Congress that he was willing to split the difference in a dispute over spending levels in a stopgap bill for government operations. [New York Times]
- Organized labor urged an alternative to the Reagan administration's economic policies. Delegates to the A.F.L.-C.I.O. convention called for the restoration of programs to provide jobs, including emergency local public works, and the construction of low-and middle-income housing. [New York Times]
- Renewed social activism by Catholics was urged in a major speech by Archbishop John Roach, president of the National Conference of Catholic Bishops. He exhorted the bishops to lead a campaign for social justice that advocates a halt in the arms race, a prohibition of abortion and more assistance for the poor. [New York Times]
- A serious problem for space officials now dominates discussions about the shuttle program, which has cost $10 billion. Two orbital tests have shown that the Columbia can fly and land as designed, but officials now doubt that they can service and return the craft to space every two weeks, as they had originally hoped. [New York Times]
- A new Commissioner of Immigration and Naturalization to be nominated by President Reagan is Alan Nelson, a California lawyer. Mr. Nelson, who has been serving as deputy commissioner, is a friend of Edwin Meese, counselor to the President. [New York Times]
- The first female Mayor of Houston is Kathryn Whitmire, the 35-year-old city Controller, who easily won a run-off election. Other female chief executives of major American cities are Jane Byrne of Chicago and Dianne Feinstein of San Francisco. [New York Times]
- George Kennan deplored as distorted and exaggerated the view of the Soviet Union that prevails among United States government officials and journalists. In a speech, the historian and former dipolomat said incorrect perceptions of the Soviet Union and its leaders imperiled the chances for "a more hopeful world." [New York Times]
- Venezuela cautioned Washington against taking any military action directed at Nicaragua. In an interview at the start of a state visit to Washington, President Luis Herrera Campins said that every effort should be made to encourage democratic groups in Nicaragua, and he affirmed he was absolutely opposed to any outside intervention in Central America. [New York Times]
- A new Middle East peace initiative was reported by Reagan administration officials. They said that Philip Habib, President Reagan's special envoy, planned to return to the region late this month to try to strengthen the cease-fire in Lebanon. [New York Times]
- A key Palestinian moderate was shot and critically wounded by terrorists who also killed his 23-year-old son in an ambush. The leader, Yusuf al-Khatib, has headed a village league on the West Bank and was a critical figure in Israel's latest efforts to curb the influence of the Palestine Liberation Organization. [New York Times]
- The contest for Secretary General of the United Nations between Kurt Waldheim, the Austrian incumbent, and Salim A. Salim, the Tanzanian challenger, went through eight more inconclusive rounds of balloting in the Security Council. The members began discussing how to bring other nominees into the race. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 850.17 (+5.14, +0.61%)
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 16, 1981 | 845.03 | 120.24 | 43.74 |
| November 13, 1981 | 855.88 | 121.67 | 45.57 |
| November 12, 1981 | 860.54 | 123.19 | 55.71 |
| November 11, 1981 | 857.12 | 122.92 | 41.94 |
| November 10, 1981 | 853.98 | 122.70 | 53.93 |
| November 9, 1981 | 855.21 | 123.29 | 48.30 |
| November 6, 1981 | 852.45 | 122.67 | 43.26 |
| November 5, 1981 | 859.11 | 123.54 | 50.86 |
| November 4, 1981 | 866.82 | 124.74 | 53.47 |
| November 3, 1981 | 868.72 | 124.80 | 54.62 |