News stories from Monday March 1, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The President vowed to hold firm on his economic program in a day of meetings at which he heard a steady stream of dissenting views, including warnings about big deficits expressed by congressional Republicans. Mr. Reagan pledged again to increase military spending sharply. [New York Times]
- Municipal leaders protested President Reagan's proposed budget deficit and domestic program reductions. The President, speaking in private, and Vice President Bush, addressing the National League of Cities, advised the officials to bear the pain. [New York Times]
- Student lobbyists found allies among both Democratic and Republican legislators as thousands of the young people converged on Capitol Hill in protest against proposed steep cuts in federal grants and loans to colleges. New York's two Senators pledged opposition to President Reagan's plan to slash $1.5 billion from programs that now cost $3.4 billion. [New York Times]
- Loan programs at prep schools are accelerating because of sharply rising costs. Officials estimate that in the last few years 120 of the 800 private secondary schools around the country have established such assistance programs for parents. [New York Times]
- Teamster concessions are included in a new contract ratified by the union members. The settlement freezes the basic wage levels of unionized truck drivers and warehouse workers for at least two years, but it preserves a cost-of-living formula that will provide a pay increase this year of 47 cents an hour and a 25-cent-an-hour increase in company contributions to union welfare funds. [New York Times]
- The death at Mount Washington of a man who was trying to rescue others has stirred a debate in New Hampshire about regulation and responsibility in the wilderness and about who should be held liable for the cost and hazard of rescue efforts, the state or those rescued. Many residents have expressed the view that the burden is on those who choose to accept the challenge of the mountain. [New York Times]
- A Soviet craft has landed on Venus, the Soviet press agency announced. It said the spacecraft, the fifth from the Soviet Union to land on the planet, had transmitted the first color photographs of the planet's surface and scooped up a soil sample for an analysis of Venusian chemistry. [New York Times]
- Poland's leader was hailed in Moscow as he began his first trip abroad since the military crackdown began Dec. 13. Gen. Wojciech Jaruzelski was accorded a rousing welcome by the Kremlin hierarchy and a strong endorsement by Leonid Brezhnev for what the Soviet leader termed Poland's "national decision" to impose martial law. [New York Times]
- The Salvadoran rebel offensive is designed to frustrate the March 28 elections and to force the ruling junta to open negotiations with the leftist insurgents, according to two top rebel commanders. In an interview in Mexico City, they contended that the Salvadoran army had suffered a major setback in its latest counteroffensive against guerrilla strongholds and was confronted by increasing disciplinary problems among its troops. [New York Times]
- The Salvadoran elections will be observed by an official United States delegation. The State Department said the group would be headed by Senator Nancy Kassebaum, Republican of Kansas, and would include the Rev. Theodore Hesburgh, the president of Notre Dame University. [New York Times]
- Israeli-Egyptian ties are troubled by increasing problems. Cairo expressed concern to Washington over the situation and particuarly over an Israeli threat to cancel a visit by President Hosni Mubarak if the Egyptian leader does not stop in Jerusalem. [New York Times]
- A cordial letter from Peking has been received by President Reagan. Prime Minister Zhao Ziyang pledged China's willingness to try to overcome a deadlock over the planned sale of American weapons and parts to Taiwan. The issue has brought American-Chinese relations to their most troubled stage since formal diplomatic ties were established in 1979. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 828.39 (+4.00, +0.49%)
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 26, 1982 | 824.39 | 113.11 | 43.83 |
| February 25, 1982 | 825.82 | 113.21 | 54.15 |
| February 24, 1982 | 826.77 | 113.47 | 64.80 |
| February 23, 1982 | 812.98 | 111.51 | 60.20 |
| February 22, 1982 | 811.26 | 111.59 | 58.31 |
| February 19, 1982 | 824.30 | 113.22 | 51.34 |
| February 18, 1982 | 828.96 | 113.82 | 60.80 |
| February 17, 1982 | 827.63 | 113.69 | 47.65 |
| February 16, 1982 | 831.34 | 114.06 | 48.88 |
| February 12, 1982 | 833.81 | 114.38 | 37.08 |