News stories from Wednesday April 14, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A conciliatory budget signal was given by White House officials, who said that President Reagan was willing to consider an income tax surcharge in an effort to break the stalemate with Congress. Despite this indication of flexibility by the White House, Senate majority leader Howard Baker, Republican of Tennessee, warned that, unless the President came to terms with his congressional opponents by next week, he would instruct the Budget Committee to prepare its own plan. [New York Times]
- The 1984 Republican convention is to be held in Dallas, according to a virtually final decision by the party's leadership. The site was picked by President Reagan. [New York Times]
- A new effort to define the poor was announced by the Census Bureau. It said that counting the monetary value of food stamps, Medicaid and other non-cash benefits would significantly reduce the number of Americans below the poverty level. [New York Times]
- An effort to reduce drunken driving was begun by President Reagan. He announced the formation of a 30-member commission to work on the problem with state and local governments. The President also began a drive to encourage the use of seatbelts, and the American auto makers pledged to support the campaign. [New York Times]
- Britian bluntly warned Argentina not to test the naval blockade imposed within 200 miles of the Falkland Islands by London's nuclear-powered submarines. Amid cheers from all sides in Parliament, Prime Minister Margaret Thatcher said that "if the zone is challenged, we shall then take the necessary action." She said Britain still sought "a peaceful solution," but the government took major steps to strengthen its naval and air forces. [New York Times]
- The accuracy of American missiles was questioned by Defense Secretary Caspar Weinberger. At a Capitol Hill dinner, he asserted that the Soviet Union's intercontinental missiles armed with nuclear warheads had become more accurate than those of the United States. [New York Times]
- Alexander Haig described the Falklands crisis as "extremely dangerous" and urged Argentina and Britain to show flexibility. The Secretary of State is to resume his mission to seek a peaceful settlement by flying to Buenos Aires tomorrow. [New York Times]
- The United States is providing Britain with military and political information on Argentina from a wide range of intelligence sources, according to Reagan administration officials. They said that sources of the intelligence included aerial surveillance, electronic interceptions, diplomats and covert agents. [New York Times]
- The first official word on conditions in the Falklands since Argentina seized the islands April 2 said that the inhabitants were facing no serious hardships. The report, from Britain's chief minister there, said that essential services were being maintained and the behavior of the Argentine troops had so far been "correct." [New York Times]
- Nicaragua accepted a U.S. plan as a basis for talks on improving relations between the two countries, according to officials in Washington and Managua. But Nicaragua is expected to announce counter-proposals to the eight-point plan tomorrow. [New York Times]
- China issued a "strong protest" against the Reagan administration's plan to sell $60 million in military spare parts to Taiwan, but indicated it would not retaliate so long as the American-Chinese negotiations on the issue of such sales continued. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 838.09 (-2.95, -0.35%)
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* |
| April 13, 1982 | 841.04 | 115.99 | 48.66 |
| April 12, 1982 | 841.32 | 116.00 | 46.51 |
| April 8, 1982 | 842.94 | 116.22 | 60.18 |
| April 7, 1982 | 836.85 | 115.46 | 53.14 |
| April 6, 1982 | 839.33 | 115.36 | 43.20 |
| April 5, 1982 | 835.33 | 114.73 | 46.90 |
| April 2, 1982 | 838.57 | 115.12 | 59.86 |
| April 1, 1982 | 833.24 | 113.79 | 57.10 |
| March 31, 1982 | 822.77 | 111.96 | 43.37 |
| March 30, 1982 | 824.49 | 112.27 | 43.99 |