News stories from Thursday July 8, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The congressional page system would undergo major changes in recruitment and supervision under recommendations planned by Senate leaders following assertions of sexual misconduct and drug abuse involving pages and members of Congress. The scandal is under investigation by the House Ethics Committee, the F.B.I. and a federal grand jury. [New York Times]
- John W. Hinckley wrote that neither hospitalization nor imprisonment could diminish his "historical" shooting of President Reagan to win Jodie Foster's love. In a letter to the New York Times, the mental patient likened himself and the actress whom he furtively pursued to Romeo and Juliet and Napoleon and Josephine. [New York Times]
- No need for a fast breeder reactor is likely until the year 2025 at the earliest, according to the General Accounting Office. The congressional auditing agency, in a 35-page draft report, challenged the Reagan administra-tion's efforts to build a $3.2 billion breeder reactor. [New York Times]
- Texas, Oklahoma and Louisiana make up the nation's so-called Oil Patch, the most conspicuously successful and volatile sector of the Sun Belt. Despite the affluence generated by energy, irreplaceable resources are being depleted, and unbridled growth is spawning problems that have blighted many sections of the aging North. [New York Times]
- A train was derailed deliberately, according to the authorities in Bergen County, N.J. They arrested five youths, all 16 or 17, and charged them with throwing a switch that derailed a seven-car train, causing it to crash through a factory wall, killing the engineer and seriously injuring a passenger. The teen-agers, from Fair Lawn, where the derailment occurred Wednesday, were released in their parents' custody. [New York Times]
- A key foreign policy review is under way in the Reagan administration, according to authoritative administration officials. They said President Reagan was seeking a possible way to ease the economic sanctions imposed against Poland and the Soviet Union over the military crackdown in Poland, including a scaling back of the ban on equipment for the new natural gas pipeline from Siberia to Western Europe. [New York Times]
- Moscow warned Washington that it would shape its policy "with due consideration" of any dispatch of American troops as part of a multinational force to evacuate Palestinian guerrillas from west Beirut. The Soviet press agency Tass said the statement had been made by Leonid Brezhnev, the Soviet leader, in his latest letter to President Reagan. [New York Times]
- Washington in effect rejected the warning by Mr. Brezhnev against any dispatch of American troops into Lebanon. But senior State Department officials said they regarded the Soviet leader's warning as an indication that the Soviet Union might send a brigade to Syria to balance an American military presence in the strategic region. [New York Times]
- A long Israeli stay in Lebanon could occur, according to the army's Deputy Chief of Staff, Gen. Moshe Levy. He disclosed that logistical preparations were being made for Israeli deployment there through next winter if necessary, but he stressed that the preparations did not necessarily indicate intent. [New York Times]
- Argentine troops were undermined by inept leadership and corruption that left many of them sick and hungry as they tried to hold the Falklands with defective weapons, according to many of the teenage conscripts. Soldiers who fought at the front said that many officers deserted them. The army has tried to silence the reports amid rising demands for an inquiry. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 804.98 (+5.32, +0.67%)
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* |
| July 7, 1982 | 799.66 | 107.22 | 46.91 |
| July 6, 1982 | 798.90 | 107.29 | 44.35 |
| July 2, 1982 | 796.99 | 107.65 | 43.76 |
| July 1, 1982 | 803.27 | 108.71 | 47.89 |
| June 30, 1982 | 811.93 | 109.61 | 65.27 |
| June 29, 1982 | 812.21 | 110.21 | 47.00 |
| June 28, 1982 | 811.93 | 110.26 | 40.70 |
| June 25, 1982 | 803.08 | 109.14 | 38.74 |
| June 24, 1982 | 810.41 | 109.83 | 55.86 |
| June 23, 1982 | 813.77 | 110.14 | 62.70 |