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Tuesday April 20, 1982
. . . where the 1970s live forever!

News stories from Tuesday April 20, 1982


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

  • A budget stalemate persisted despite a pledge by President Reagan to compromise with the Democrats and a reported agreement by the White House and congressional negotiators to hold the deficit next year at $95 billion. The negotiations broke off this evening amid reports that the participants were no closer to reaching agreement than they had been before. [New York Times]
  • Longshoremen violated federal law when they refused to handle Soviet cargo in American ports in protest against the Soviet intervention in Afghanistan, the Supreme Court ruled unanimously. The decision leaves the International Longshoremen's Association open to suits for damages to companies that suffered financial losses because of the 1980 boycott at ports from Maine to Texas. [New York Times]
  • Military registration is being avoided by a rising number of 18-year-old men, according to a study released by the General Accounting Office. The study indicated that the rate of registration for a draft dropped from 93 percent in 1980 to 70 percent for the first nine months of 1981. [New York Times]
  • President Reagan urged Argentina and Britain to show restraint in the Falklands dispute, and he appealed to the Organization of American States to delay any action in the crisis as long as Washington was trying to bring about a peaceful solution. The O.A.S. council voted 18 to 0, with the United States abstaining, to convene a foreign ministers' meeting Monday to consider collective action against Britain. [New York Times]
  • Britain expressed deep reservations about the latest Falklands peace proposals and said that Foreign Secretary Francis Pym would fly to Washington on Thursday with counterproposals. Prime Minister Margaret Thatcher made the announcement at a tense and crowded session of the House of Commons. [New York Times]
  • Alexander Haig pleaded with Argentine leaders in his nearly four days of talks in Buenos Aires in an effort to avert a war between Argentina and Britain over the Falklands, according to two Argentines present. Despite the Secretary of State's dogged persistence, the Argentines refused to give way on the key issue of sovereignty. [New York Times]
  • Bonn opposes a nuclear freeze. Chancellor Helmut Schmidt, addressing a convention of the West German Social Democratic Party, warned that a halt in missile deployment in Western Europe would amount to accepting Soviet superiority in intermediate-range missiles. [New York Times]
  • A Syrian missile attack was reported by Israel, which said that an Israeli plane flying over the Golan Heights had been fired on by a missile launched from Syrian territory. A spokesman in Jerusalem also said that Israeli reconnaissance aircraft had been shot at over Sidon, Lebanon, by hand-held arms and antiaircraft guns. He said there were no hits and all planes returned safely. [New York Times]
  • Iran's revolution putters along despite major problems, according to a journalist returning after an absence of 15 months. The nation is still firmly in the grip of Islamic fundamentalist fervor and Ayatollah Khomeini still enjoys broad popular support while the economy is a shambles, with the cash-poor government trying to barter oil for imports. [New York Times]


Stock Market Report

Dow Jones Industrial Average: 840.56 (-5.52, -0.65%)
S&P Composite: 115.44 (-1.26, -1.08%)
Arms Index: 1.61

IssuesVolume*
Advances57813.78
Declines91835.33
Unchanged4155.50
Total Volume54.61
* 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
DateDJIAS&PVolume*
April 19, 1982846.08116.7058.46
April 16, 1982843.42116.8155.89
April 15, 1982839.61116.3545.69
April 14, 1982838.09115.8345.15
April 13, 1982841.04115.9948.66
April 12, 1982841.32116.0046.51
April 8, 1982842.94116.2260.18
April 7, 1982836.85115.4653.14
April 6, 1982839.33115.3643.20
April 5, 1982835.33114.7346.90


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