News stories from Thursday September 2, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Patience with the economic program developed by the Reagan administration will be the campaign theme in the fall congressional campaign, according to White House political strategists. The party's new television commercials argue that because the economic program needs more time to work, President Reagan deserves additional Republican support in Congress to prevent the Democrats from reversing his policies. [New York Times]
- The first rules for tiny aircraft were issued by the Federal Aviation Administration amid the surging national interest in hang gliders and ultralight powered craft. But the agency exempted virtually all of the small aircraft and their owners from licensing requirements. [New York Times]
- A gain in understanding cancer was reported at a scientific meeting. Researchers said that the difference between genes that were normal and those that could transform cells into cancer or a cancer-like state of growth could be as small as only one chemical subunit among several thousands. Such a small but potent abnormality, the report said, was found in studies of a gene isolated from cells of a human bladder cancer. [New York Times]
- The motive for the slaying of Nathan Masselli was probably a money dispute with associates of his father, a reputed mobster, and was not related to any involvement in a federal inquiry into allegations against Labor Secretary Raymond Donovan, according to New York law enforcement officials. They stressed that this conclusion was based on the latest findings in the nine-day investigation and was only tentative. [New York Times]
- Conditions in Newark (N.J.) public housing were termed appalling by a middle-level federal housing official. The official, James Baugh, said that living conditions in some of the city's 26 housing projects were among the most deplorable he had ever seen in travels across the country, and he said that no human or animal should have to live in such misery. [New York Times]
- Israel rejected Washington's plan for Palestinian self-rule in the West Bank and the Gaza Strip, asserting that President Reagan's proposals would help create a Palestinian state that would endanger Israel's security. Despite Mr. Reagan's appeal for a freeze in Jewish settlement of the occupied territories, Israel's cabinet also voted unanimously to press the establishment of a Jewish population in the areas to consolidate Israel's hold on them. [New York Times]
- Jordan reacted favorably to the American peace initiative. Amman withheld formal comment, but made clear that it viewed the proposals as promising as long as some doubtful provisions were clarified. [New York Times]
- Lebanese forces took full control of west Beirut for the first time since the 1975-76 civil war. The western sector was generally calm, and residents crowded the streets. [New York Times]
- Libya threatened other Arab nations for their failure to intervene militarily on the side of the Palestinians in Beirut and to prevent their dispersal. The Libyan leader, Col. Muammar Qaddafi, said he might send "revolutionary committees" to those countries to topple their governments. [New York Times]
- Protests continued in Lubin, Poland, where two persons were reported killed Tuesday. Squads of riot policemen in the copper-mining center fired tear gas canisters, flares and smoke grenades with little effect, and some of the youths repeatedly retaliated with rocks. [New York Times]
- A quadrupling of China's output in industry and agriculture by the year 2000 will be sought by Peking's leadership, according to Hu Yaobang, the Communist Party chairman. He disclosed the ambitious objective in a 34,000-page report to the 12th Communist Party congress. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 909.40 (+14.35, +1.60%)
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* |
| September 1, 1982 | 895.05 | 118.25 | 82.83 |
| August 31, 1982 | 901.31 | 119.51 | 86.36 |
| August 30, 1982 | 893.30 | 117.66 | 59.56 |
| August 27, 1982 | 883.47 | 117.11 | 74.39 |
| August 26, 1982 | 892.41 | 118.55 | 137.28 |
| August 25, 1982 | 884.89 | 117.58 | 106.19 |
| August 24, 1982 | 874.90 | 115.34 | 121.65 |
| August 23, 1982 | 891.17 | 116.11 | 110.30 |
| August 20, 1982 | 869.29 | 113.02 | 95.88 |
| August 19, 1982 | 838.57 | 109.16 | 78.26 |