News stories from Friday September 24, 1982

Summaries of the stories the major media outlets considered to be of particular importance on this date:

The President gave a spirited defense of his economic policies, accusing the Democrats of confusing compassion and reality and insisted that the voters still endorsed "the sea change in American politics" that his administration has brought about. [New York Times] A training program for auto workers is being sponsored by General Motors, the United Automobile Workers and the state of California. They, together with the federal government, are providing $10 million to retrain 8,400 unemployed auto workers in California to find new jobs. [New York Times] Mario Cuomo's upset victory over Ed Koch was viewed by many Democratic campaign participants and observers as a triumph of traditional political organization over electronic-age politics. Taking all other factors into account, the keystone of the outcome was Mr. Cuomo's old-fashioned but effective effort to get his backers to the polls.Lt. Gov. Cuomo began the general election campaign much as he had pursued his gubernatorial nomina-tion, with a grateful nod to the "old Democratic coalition," some gentle needles for the skeptics and a denunciation of "Reaganomics." [New York Times] Menachem Begin sought an inquiry into the killings of Palestinian civilians in Beirut last weekend. The Israeli Prime Minister, in an effort to quell growing outrage among Israelis, asked the Chief Justice of Israel's Supreme Court to head the investigation into any Israeli responsibility in the slayings, but the Chief Justice said it would not be proper for him to act on the request now. [New York Times] Anger at Ariel Sharon has reportedly been expressed by many senior officers in the Israeli army. Many seek the dismissal of the Defense Minister. Their outrage, which has been increasing over such issues as the conduct of the war in Lebanon, was brought to a flash point by the killings of Paiestininan civilians by Israel's Christian allies in Beirut. [New York Times] Israel was barred from the final sessions of the annual conference of the International Atomic Energy Agency in Vienna. The United States and other Western nations withdrew their delegations in protest. [New York Times] King Hussein has begun talks with officials of the Palestine Liberation Organization in the hope of reaching an accord on the framework of a Palestinian-Jordanian federation subject to a plebiscite if Israel withdrew from the occupied territories. [New York Times] Chinese-British accord on Hong Kong was suggested in general terms after talks in Peking led by Deng Xiaoping and Prime Minister Margaret Thatcher. They agreed to negotiations on the future of the British crown colony but did not reach any consensus on the basic question of who would have sovereignty over the colony. [New York Times] Salvadoran land redistribution has bogged down under new pressure from rightist officials, according to agricultural experts and union officials in El Salvador. They said that only 200 provisional titles to land had been given to peasants in the eight weeks since the Reagan administration certified that the government was making "continued progress" in carrying out the program. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 919.52 (-6.25, -0.68%)
S&P Composite: 123.32 (-0.49, -0.40%)
Arms Index: 1.36

	Issues	Volume*
Advances	680	18.61
Declines	788	29.40
Unchanged	419	6.59
Total Volume		54.60

* in millions of shares

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 23, 1982	925.77	123.81	68.24
September 22, 1982	927.61	123.99	113.09
September 21, 1982	934.79	124.88	82.89
September 20, 1982	916.30	122.51	58.52
September 17, 1982	916.94	122.55	63.94
September 16, 1982	927.80	123.77	78.89
September 15, 1982	930.46	124.29	69.67
September 14, 1982	923.01	123.10	83.06
September 13, 1982	918.69	122.24	59.51
September 10, 1982	906.82	120.97	71.07