News stories from Thursday March 18, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Reagan expressed chagrin over flagging support among businessmen for his economic program and called on the business community to support his proposed budget. Mr. Reagan addressed a meeting of the National Association of Manufactuers, his traditional political allies, who increased their demands that he alter his economic priorities. [New York Times]
- Americans disagree with President Reagan over his budget positions, the latest New York Times/CBS News Poll indicates. It registered a 53 to 32 percent majority in favor of eliminating a 10 percent income tax cut beginning in July and a 49 to 41 percent plurality in favor of reducing military spending. The survey recorded sharply increased concern about Mr. Reagan's conduct of foreign policy and continued erosion in approval of his overall performance. [New York Times]
- New chiefs for the Air Force and Navy were nominated by President Reagan. At a brief White House ceremony, he introduced Gen. Charles Gabriel, who was a fighter pilot in the Korean and Vietnam wars, as his choice for Air Force Chief of Staff and Adm. James Watkins, a one-time submarine skipper, as his candidate for Chief of Naval Operations. [New York Times]
- The third mission of the space shuttle Columbia is set to begin Monday. Five hours after the countdown began, space agency officials announced that the primary landing site had been shifted from California's Mojave Desert, which is rain-soaked, to the White Sands Missile Range in southern New Mexico. [New York Times]
- Safeguards for intelligence agents were backed by the Senate, which gave final approval to a bill that would make it a crime for individuals, including journalists, to reveal the identities of Americans involved in covert operations abroad. The measure now goes to a conference with the House. President Reagan's approval is considered virtually certain, and a court test of the measure's constitutionality is expected soon. [New York Times]
- An Abscam conviction was upheld by a federal appeals court, which said that law enforcement agents could use "special investigative techniques to uncover insidious corruption." The decision involved the conviction of Alexander Alexandro, an investigator with the Immigration and Naturalization Service. [New York Times]
- Four Dutch journalists were slain in a rural region of El Salvador where they had gone to film a rebel group. The Salvadoran authorities said that the four members of a television crew had been killed when insurgents accompanying them opened fire on an army patrol. [New York Times]
- Nicaragua expressed willingness to hold negotiations with the United States on all issues, including assertions of Sandinist arms shipments to rebels in El Salvador. [New York Times]
- Support for Salvadoran centrists has been expressed by the Reagan administration in advance of the March 28 elections. Washington is concerned that extreme right-wing forces could gain power and revoke a land redistribution program. [New York Times]
- King Hussein warned that rifts in the Arab world and Israel's continued occupation of the West Bank were bringing the Middle East to the brink of a new war. In an interview, the Jordanian King said that United States foreign policy in the region had "eroded to the point where it has now adopted the role of a postman, a carrier of messages." [New York Times]
- A starting time for arms talks was indicated by the Reagan administration. Officials said they were now in "the final phase of intensive preparations" for negotiations with the Soviet Union on reducing strategic weapons, and Defense Secretary Caspar Weinberger said he expected the talks to begin this summer. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 805.27 (+9.42, +1.18%)
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* |
| March 17, 1982 | 795.85 | 109.08 | 48.89 |
| March 16, 1982 | 798.33 | 109.28 | 50.23 |
| March 15, 1982 | 800.99 | 109.45 | 43.37 |
| March 12, 1982 | 797.37 | 108.61 | 49.59 |
| March 11, 1982 | 805.56 | 109.36 | 52.95 |
| March 10, 1982 | 804.89 | 109.41 | 59.44 |
| March 9, 1982 | 803.84 | 108.83 | 76.06 |
| March 8, 1982 | 795.47 | 107.35 | 67.33 |
| March 5, 1982 | 807.36 | 109.34 | 67.44 |
| March 4, 1982 | 807.55 | 109.88 | 74.34 |