News stories from Tuesday July 28, 1970
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Israeli government is debating the U.S.' Mideast peace proposal; their parliament questioned the cease-fire proposal.
The United Arab Republic has banned Palestinian guerrilla broadcasts in Cairo. The commandos are protesting the acceptance of the peace plan by Jordan and the United Arab Republic.
[CBS] - Communists routed Cambodian troops at Kirirom. [CBS]
- The Army has dropped My Lai cover-up charges against Col. Robert Luper and Capt. Kenneth Boatman. [CBS]
- NASA head Thomas Paine resigned, and will return to General Electric. [CBS]
- Senator Stuart Symington called for a cutback of America's international commitments. [CBS]
- The Senate passed a $4.4 billion education bill but President Nixon may veto it even though the bill contains a strong anti-busing section. A joint Senate-House committee voted $17.5 billion for urban renewal and veterans' benefits. [CBS]
- Virginia Knauer, President Nixon's consumer affairs adviser, says that the pending foreign trade bill will hurt low-income consumers. [CBS]
- A riot rocked a rock concert in Chicago when the crowd attacked the stage and police. Police reinforcements chased rioters, who then vandalized a business district. Mayor Richard Daley said that he thinks the riot was planned. Subsequent rock concerts have been canceled. [CBS]
- Black leaders in Houston want the FBI to investigate Sunday's violence; they also called for an economic boycott and a civilian-police review board. [CBS]
- Heavy smog shrouded the East coast; in New York, Consolidated Edison cut power 5% due to a reserve shortage. [CBS]
- Star witness Linda Kasabian testified against Charles Manson in his Los Angeles murder trial. Kasabian described life in the Manson cult and group sex; she claims that the Beatles' song "Helter Skelter" calls for race war and she told how Manson planned the murders. [CBS]
- The Nixon administration reported a $2.9 billion budget deficit during the last fiscal year, blaming it on the economic slowdown. [CBS]
- The presidential yacht "Julie" is not for sale anymore; there were no serious offers. [CBS]
- Space scientists predict that passengers may visit space stations within seven or eight years. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 731.45 (+1.37, +0.19%)
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 27, 1970 | 730.08 | 77.65 | 7.46 |
| July 24, 1970 | 730.22 | 77.82 | 9.52 |
| July 23, 1970 | 732.68 | 78.00 | 12.46 |
| July 22, 1970 | 724.67 | 77.03 | 12.46 |
| July 21, 1970 | 722.07 | 76.98 | 9.94 |
| July 20, 1970 | 733.91 | 77.72 | 11.66 |
| July 17, 1970 | 735.08 | 77.69 | 13.87 |
| July 16, 1970 | 723.44 | 76.34 | 12.20 |
| July 15, 1970 | 711.66 | 75.23 | 8.86 |
| July 14, 1970 | 703.04 | 74.42 | 7.36 |