News stories from Thursday October 7, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Reagan warned that the September unemployment figures to be made public today would "very possibly" show a rise from the 9.8 percent level in August. Appearing before 5,000 cheering students at an outdoor rally at the University of Nevada at Reno, Mr. Reagan blamed the Democrats and "their failed policies of the past" for the recession. [New York Times]
- Skepticism about politicians and a disinterest in voting were expressed by New Jerseyans seeking unemployment benefits in Newark and Elizabeth. A 64-year-old machine operator who is jobless after 29 years of working for the Singer Manufacturing Company said ruefully, "I'm giving up voting for the rest of my life because I don't trust politicians. When they campaign, they promise this and that, but when they get in office, they do something different." [New York Times]
- Officials investigating the deaths of seven Chicago-area residents from cyanide-contaminated Extra Strength Tylenol capsules pressed their detective work. Officials heading the inquiry virtually ruled out any link between the Chicago deaths and the case in Philadelphia involving cyanide-laced Tylenol found in the apartment of a student whose death last April was ruled a suicide. [New York Times]
- Thousands of Asian-born children of American servicemen could immigrate to the United States under legislation expected to be signed soon by President Reagan. Congress approved the legislation Friday, hours before adjourning. [New York Times]
- A step toward curbing energy costs was reported by researchers at Texas A & M. They said they had developed the cheapest method yet for using solar energy to extract hydrogen from water. The technique, they said, could ultimately lead to the use of hydrogen as a basic energy source to replace fossil fuels. [New York Times]
- The financial markets soared as interest rates continued to decline. Turnover on the New York Stock Exchange reached a record 147.1 million shares. In the credit markets, interest rates tumbled and prices of government notes and bonds surged. [New York Times]
- A new system of Medicare payments to hospitals proposed by the Reagan administration prompted differing reactions by hospital and health officials in the New York City metropolitan region. Officials in New Jersey, which is experimenting with the plan, said it was helping to contain hospital costs, while some officials in New York were dubious and reaction in Connecticut was mixed. The plan calls for paying hospitals a fixed amount for treating patients with the same illness rather than for the costs incurred. [New York Times]
- Polish activists are being detained on the eve of a parliamentary session that is expected to outlaw the independent trade union Solidarity. The government's prize catch is Wladyslaw Frasyniuk, the leader of the Silesian union and an organizer of Solidarity's five-member underground committee. [New York Times]
- An effort to topple Somalia's leader, Gen. Mohamed Siad Barre, appears to have bogged down. But the Ethoplan-backed insurgents, supplied with Soviet weapons, still hold some Somali territory, and the American-supplied forces of the pro-Western Government seem unable to dislodge them. [New York Times]
- A new Lebanese cabinet was formed by Prime Minister Shafik al-Wazzan. Goverment sources said they believed that the cabinet of five Christians and five Moslems, virtually all professional specialists, would act as a transitional team to strengthen the government until a traditional cabinet of politicians chosen from among members of Parliament could be formed. [New York Times]
|
Stock Market Report
Dow Jones Industrial Average: 965.97 (+21.71, +2.30%)
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* |
| October 6, 1982 | 944.26 | 125.97 | 93.57 |
| October 5, 1982 | 907.19 | 121.98 | 69.77 |
| October 4, 1982 | 903.61 | 121.51 | 55.65 |
| October 1, 1982 | 907.74 | 121.97 | 65.00 |
| September 30, 1982 | 896.25 | 120.42 | 62.61 |
| September 29, 1982 | 906.27 | 121.63 | 62.54 |
| September 28, 1982 | 919.33 | 123.24 | 65.90 |
| September 27, 1982 | 920.90 | 123.62 | 44.83 |
| September 24, 1982 | 919.52 | 123.32 | 54.59 |
| September 23, 1982 | 925.77 | 123.81 | 68.24 |