News stories from Wednesday April 28, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Budget talks collapsed, and participants at a three-hour meeting in the Capitol attended by President Reagan said there was almost no chance that the impasse could be resolved through a compromise. Tip O'Neill, the Speaker of the House, who led the Democratic delegation, said that the negotiations had failed because of a "basic philosophical disagreement" that emerged between him and the President. [New York Times]
- The task of shaping a budget rests now with Congress. As a result, according to Reagan administration officials, uncertainty over the exact amount of projected deficits will become greater, and this in turn could create turmoil in financial markets, keep interest rates high and further hamper economic recovery. [New York Times]
- The trial of John W. Hinckley proceeded amid secrecy and stringent security ordered by Judge Barrington Parker. He called potential jurors individually to the bench and later to his chambers for private questioning. The 26-year-old defendant shot President Reagan and three other men 13 months ago. [New York Times]
- A nuclear waste policy is sought in legislation introduced in the Senate. But the plan to establish a national policy for storage and disposal of the waste faced bitter opposition by senators whose states are likely to be chosen as dumping sites. [New York Times]
- The future of the New York Daily News was in increasing doubt as the owners announced an end of all talks on the prospective sale of the newspaper to Joe Allbritton, the Texas financier. Daily News officials asked to meet Friday with representatives of the 11 newspaper unions. [New York Times]
- Federal cuts in student aid and deepening economic uncertainty are prompting high school students in the middle-class community of South Commack, N.Y., to decline acceptance to elite private colleges and to register instead at public institutions. The guidance office said that about three dozen seniors who had been accepted at select colleges had reluctantly decided that attending them would be financially impossible. [New York Times]
- Britain stepped up military pressure on Argentina with an announcement that it would impose a total air and sea blockade around the Falklands, effective Friday. British officials confirmed that small troop units had been put ashore in the islands to prepare for the large-scale invasion expected soon. The two countries weighed a last-minute American peace plan that was considered unlikely to win acceptance in London or Buenos Aires. [New York Times]
- Argentina overrode statements issued earlier in Buenos Aires that the latest American peace plan was unacceptable and announced instead that it was under study. Meanwhile, the ruling military junta sought to prepare Argentines for war. [New York Times]
- Washington appealed urgently to Argentina and Britain to accept the new American proposals to avert a war over the Falklands. The United States said Secretary of State Alexander Haig was ready to resume at once his diplomatic mission to Buenos Aires and London if that would help achieve a settlement. [New York Times]
- A resolution backing Argentina in its claim to sovereignty over the Falklands, and urging Argentina and Britain to accept a cease-fire and withdraw their forces from the area, was approved by the Organization of American States. The final vote was 17 to 0, with abstentions by the United States, Colombia, Chile and Trinidad and Tobago. [New York Times]
- An easing of curbs in Poland was announced by the military rulers. They said that 800 people would be freed from detention and that the nationwide curfew would be lifted, effective Sunday. However, the authorities warned that stiff curbs would be reimposed if "excesses" develop. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 852.64 (-4.86, -0.57%)
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 27, 1982 | 857.50 | 118.00 | 56.48 |
| April 26, 1982 | 865.58 | 119.26 | 60.50 |
| April 23, 1982 | 862.16 | 118.64 | 71.85 |
| 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 |