News stories from Wednesday June 11, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Prime Minister of Japan died after a heart attack at the age of 70. The death of Masayoshi Ohira left his governing party leaderless 10 days before Parliamentary elections. [New York Times]
- Oil prices were raised by four mem-bers of OPEC. Kuwait, Venezuela, Iraq and Qatar increased prices as much as $2 a barrel. Saudi Arabia, the cartel's largest producer, and the United Arab Emirates left open the possibility of increases by next September, when OPEC is to meet in a new attempt to agree on a uniform price. [New York Times]
- A budget deadlock was broken as House and Senate conferees approved $613.6 billion in spending for the next fiscal year, with a slightly smaller allowance for the military than was provided in a previous agreement opposed by the Carter administration and rejected by the House. The new plan won speedy voice-vote approval in the Senate, which sought to insure that the House would go along in a vote scheduled for tomorrow. [New York Times]
- A new White House chief of staff was named. The appointee is Jack Watson, who has been in charge of the Cuban refugee program and other domestic problems. He replaces Hamilton Jordan, who has been spending much of his time on Mr. Carter's re-election campaign and will now devote full time to accelerating it. [New York Times]
- John Anderson seems to be gaining in his goal to qualify for the ballot in enough states to have a theoretical chance of being elected President. In response, President Carter's campaign is stepping up its efforts to challenge the independent candidate's legal position in several key states. [New York Times]
- Government treatment of Haitians is the subject of a major legal controversy and a trial that could determine whether the thousands of refugees will remain in this country or are sent home. Lawyers for the Haitians contend there is a pattern of harassment and discrimination, but the government says that this is not the case and that it has merely tried to carry out immigration laws. [New York Times]
- Registration for a draft advanced as Senator Mark Hatfield, Republican of Oregon, ended 31 hours of delaying tactics and cleared the way for a final Senate vote on the bill today. Passage is expected. The House has approved a similar bill and President Carter is considered certain to sign the final legislation. [New York Times]
- The renomination of President Carter is considered certain by nearly all leading politicians in Washington. An exception is Robert Byrd, the Senate majority leader, who has declined to comment on speculation that he fears a Carter campaign might cost the Democrats their Senate majority. [New York Times]
- West European leaders will meet tomorrow in Venice to search for ways to arrest what many of them view as a slide toward a world crisis. The chiefs of the Common Market countries are expected to call for the inclusion of the Palestine Liberation Organization in future Middle East peace negotiations. Another high-level Western meeting that will include the United States, Canada and Japan is also to convene in Venice, on June 22.
Tight security safeguards in Venice have been prepared by a force of about 8,000 men, including hundreds of anti-terrorist experts and a frogmen's unit in advance of the Western summit meetings. The city of canals poses special safety problems.
[New York Times] - Britain is sending troops to New Hebrides and French riot police arrived in the South Pacific archipelago. London said its mission was designed "to provide stability" in the uneasy situation in the islands, which are to gain independence next month. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 872.70 (+8.71, +1.01%)
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* |
| June 10, 1980 | 863.99 | 114.66 | 42.02 |
| June 9, 1980 | 860.67 | 113.71 | 36.81 |
| June 6, 1980 | 861.52 | 113.20 | 37.22 |
| June 5, 1980 | 858.70 | 112.78 | 49.07 |
| June 4, 1980 | 858.02 | 112.61 | 44.17 |
| June 3, 1980 | 843.77 | 110.51 | 33.15 |
| June 2, 1980 | 847.35 | 110.76 | 32.71 |
| May 30, 1980 | 850.85 | 111.24 | 34.81 |
| May 29, 1980 | 846.25 | 110.27 | 42.00 |
| May 28, 1980 | 860.32 | 112.06 | 38.57 |