News stories from Monday November 22, 1976
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President-elect Carter visited President Ford at the White House and immediately raised the idea of another top-level economic conference with foreign leaders. Mr. Ford replied "It might be a good idea", and also appeared to suggest a meeting of NATO foreign ministers and perhaps one of government chiefs of NATO countries. Mrs. Ford and Mrs. Carter had tea at the White House and discussed housekeeping problems. Earlier, the future First Lady visited a public school six blocks away that her daughter, Amy, may attend. [New York Times]
- A Republican struggle for nominal control of the party between moderates and conservatives was set by the resignation of Mary Louise Smith two years before the end of her term as Republican national chairman. President Ford's defeat prompted conservatives to urge Mrs. Smith's replacement by someone reflecting the views of Ronald Reagan, on the theory that he would have defeated Jimmy Carter. Republican moderates now seek a new chairman with no ideological links. [New York Times]
- Continuing threats to the life of Secretary of State Henry Kissinger have led the Ford administration to consider asking Congress for emergency authority to allow the Secret Service to protect him after he leaves office. Present law does not permit continued protection of the Secretary when he becomes a private citizen on Jan. 20, inauguration day. The issue is sensitive, in part because of expenses. [New York Times]
- A death penalty bill was passed overwhelmingly by the New Jersey state Assembly after a long, emotional debate and denunciations of the measure by black legislators. The vote was 58 to 16, with a number of legislators abstaining. The bill went to the Senate, where approval is also expected. [New York Times]
- Stock prices posted a broad gain, with advances outnumbering declines by more than 2 to 1. The Dow Jones industrial average rose 7.07 points to 955.87. Credit markets continued to head toward higher prices and lower interest rates, Some gains were substantial. [New York Times]
- Increased economic growth to avert a possible worldwide recession should be pressed by the United States, West Germany and Japan, according to Lawrence Klein, a top economic adviser to President-elect Carter. Professor Klein, in an interview in Paris, said that Washington should pump at least $10 billion into the economy, with a tax cut or more federal spending. [New York Times]
- Speculation against the peso led the Mexican government to suspend foreign-exchange dealings indefinitely. The speculation and outflow of capital followed unfounded rumors that a military coup would take place over the weekend. The weekend passed uneventfully and President Luis Echeverria Alvarez, soon to end his six-year term, termed the rumors "absurd." [New York Times]
- The Y.M.C.A.'s shift from a "gym and swim" image to advocacy of social causes was illustrated at its first youth conference on world peace, held on the Texas coast. Delegates from 80 countries debated problems of world justice, including the impact of multinational corporations and allegations of political repression. [New York Times]
- A Labor government bill to nationalize Britain's aircraft and shipbuilding industries was stalled when the House of Lords voted to reject it unless a dozen profitable ship-repair yards were exempted. The Callaghan government cannot reintroduce it until Parliament's' new session, which opens Wednesday, complicating an already crowded legislative calendar. [New York Times]
- Israel was restored to full membership in the United Nations Educational, Scientific and Cultural Organization as a two-year policy barring it from the agency's European unit was reversed. But the agency voted 61 to 5, with 28 abstentions, to condemn Israel's educational and cultural policies in occupied Arab lands, calling them "cultural assimilation." [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 955.87 (+7.07, +0.75%)
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* |
| November 19, 1976 | 948.80 | 101.92 | 24.55 |
| November 18, 1976 | 950.13 | 101.89 | 24.00 |
| November 17, 1976 | 938.08 | 100.61 | 19.90 |
| November 16, 1976 | 935.34 | 100.04 | 21.02 |
| November 15, 1976 | 935.42 | 99.90 | 16.71 |
| November 12, 1976 | 927.69 | 99.24 | 15.55 |
| November 11, 1976 | 931.43 | 99.64 | 13.23 |
| November 10, 1976 | 924.04 | 98.81 | 18.89 |
| November 9, 1976 | 930.77 | 99.32 | 19.21 |
| November 8, 1976 | 933.68 | 99.60 | 16.52 |