News stories from Thursday February 11, 1982

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

A budget compromise process is underway, and President Reagan no longer regards his proposals as "sacrosanct," two Republican Senate leaders said after a one-hour meeting at the White House. The legislators told Mr. Reagan that his budget could not be approved in its present form. The President said he wanted to give Congress "running room" on cuts in order to reduce the deficit, but that he was not ready to give way on reducing income taxes and increasing military spending. [New York Times] The Reagan budget was assailed by the United States Conference of Mayors, which represents officials in 840 cities with populations of 30,000 or more. The group said that President Reagan's proposals would "seriously undermine the economic and social health of cities. [New York Times] A new revision in missile deployment was announced by the Reagan administration. It said that the first 40 of the new MX missiles would be deployed in existing Minuteman silos that have not been reinforced by concrete and steel as the administration envisioned last October. [New York Times] Seeking to improve nuclear safety, the Nuclear Regulatory Commission proposed new standards that would try for the first time to measure how many people might be killed or injured in a reactor accident. The proposal is designed to help achieve a national consensus on the question of tradeoffs between the cost and benefits of increased safety precautions. [New York Times] Two Abscam convictions now stand under a ruling by a divided federal appeals court. The panel overruled a federal judge and reinstated the convictions of Harry Janotti, a Philadelphia city councilman, and George Schwartz, a former president of the council, whom a jury found guilty of political corruption. [New York Times] Attacks by fighting dogs are prompting rising concern in California about the proliferation of the pit dogs, both as pets and as fighters. The dogs are bred and trained for combat in clandestine backyard matches or gatherings that draw hundreds of paying spectators and gamblers. [New York Times] Three missions to El Salvador have been set by Democratic members of Congress amid rising uncertainty about United States policy there. The three delegations' trips were planned separately, congressional aides said, because they are being undertaken for different committees and offices. [New York Times] Tributes to Poland's leader, Gen. Wojciech Jaruzelski, on the first anniversary of his appointment as Prime Minister, appeared in many Warsaw publications. [New York Times] Thousands of Syrian troops battled insurgents in the central city of Hama for the ninth day, according to Western diplomats in Damascus. The government again denied that fighting was taking place. [New York Times] American-Moroccan talks, held in Marrakesh, were said to include the possibility of negotiations for emergency landing rights for the Rapid Development Force being planned for the Middle East. The wide-ranging discussions between King Hassan II and Secretary of State Alexander Haig included an American offer of substantially increased military aid for Morocco. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 834.67 (-1.99, -0.24%)
S&P Composite: 114.43 (-0.23, -0.20%)
Arms Index: 1.06

	Issues	Volume*
Advances	649	18.71
Declines	728	22.35
Unchanged	485	5.67
Total Volume		46.73

* 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*
February 10, 1982	836.66	114.66	46.60
February 9, 1982	830.57	113.68	54.42
February 8, 1982	833.43	114.63	48.50
February 5, 1982	851.03	117.26	53.34
February 4, 1982	847.03	116.42	53.30
February 3, 1982	845.03	116.48	49.56
February 2, 1982	852.55	118.01	45.01
February 1, 1982	851.69	117.78	47.73
January 29, 1982	871.10	120.40	73.40
January 28, 1982	864.25	118.92	66.68