News stories from Friday April 23, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- A decline in living costs in March, the first time in almost 17 years, was reported by the Bureau of Labor Statistics. The decline of three-tenths of 1 percent reflected a sharp drop in gasoline prices and lower prices for food and housing. In the first quarter of 1982, consumer prices were up at only a 1 percent annual rate, the slowest quarterly pace since 1965. The index rose three-tenths of 1 percent in January and two-tenths of 1 percent in February. [New York Times]
- Bolstering the Social Security system with taxes on tobacco and liquor was tentatively approved by White House and congressional budget negotiators, Republican and Democratic aides close to the negotiations said. If the tentative agreement becomes law it would establish a precedent that for the first time would make general tax revenues available to Social Security funding. [New York Times]
- Wisconsin Republicans were stunned by Gov. Lee Dreyfus's announcement that he will not seek a second term. The Governor's supporters had expected him to run again. He said that he wants to "return to private life." He recently announced that the state faces a $460 million deficit and asked the Democratic-controlled legislature to raise the state sales tax to 5 percent to help erase the deficit. He told associates that the state's financial troubles were not a factor in his decision not to run again. [New York Times]
- Congress' ability to check on the C.I.A. and other intelligence agencies has been imperiled by the resignation of Adm. Bobby Inman as Deputy Director of Central Intelligence, a conservative Republican member of the Senate Select Committe on Intelligence said. Senator Richard Lugar of Indiana said that Wiliam J. Casey, the Director of Central Intelligence, did not know enough about the field to deal with congressional overseeing committees. He urged President Reagan to appoint a professional intelligence officer to succeed Admiral Inman. [New York Times]
- Sealife dependent on volcanic energy instead of sunlight is being observed by marine biologists in a submarine 8,600 feet below the surface of the Pacific off Mexico. They describe this type of life system, nourished by sulfuric compounds generated by volcanic heat arising from within the earth, as being far more widespread than they had believed. [New York Times]
- Violation of Argentina's defense zone by two British warships was reported by Argentine officials. The ships were said to have moved to within 50 miles of the sparsely inhabited Falkland Islands dependency of South Georgia. The Argentine press agency Telam quoted a government official as saying that an attack on South Georgia, 800 miles east of the Falklands, was "imminent." The officials said the ships' movements were a violation of the Rio Treaty and that the government had filed a protest with the Organization of American States. [New York Times]
- U.S. Salvadoran policy will not change despite the right-wing coalition's control of the new Constituent Assembly, Ambassador Deane Hinton said. He said that the Reagan administration's support of the Salvadoran government "will continue in any case" and that he "would certainly hope" that Congress will not suspend economic and military aid to El Salvador as a result of the Assembly vote. The vote placed the chamber under the control of Roberto d'Aubuisson, an extreme rightist, and excluded members of the centrist Christian Democratic Party. [New York Times]
- Yamit was buried in sand by the Israeli army and the last two strongholds of Israeli protesters in the settlement in Sinai were destroyed. Prime Minister Menachem Begin defended Israel's plan to return to Egypt the last section of Sinai, including Yamit, on the ground that peace with Egypt has been a principal national objective since Israel's founding. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 862.16 (+9.04, +1.06%)
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 22, 1982 | 853.12 | 117.19 | 64.46 |
| April 21, 1982 | 843.42 | 115.72 | 57.81 |
| April 20, 1982 | 840.56 | 115.44 | 54.60 |
| April 19, 1982 | 846.08 | 116.70 | 58.46 |
| April 16, 1982 | 843.42 | 116.81 | 55.89 |
| April 15, 1982 | 839.61 | 116.35 | 45.69 |
| April 14, 1982 | 838.09 | 115.83 | 45.15 |
| 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 |