News stories from Tuesday November 30, 1982

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

Edward Kennedy is withdrawing from consideration as a presidential aspirant, according to several supporters of the Massachusetts Democrat. Reports circulated that the Senator planned to announce his decision at a news conference tomorrow. A close adviser reported that Senator Kennedy had indicated he feared that any campaign he waged in 1984 would be transformed by opponents from a consideration of the important national issues into a referendum on his character. [New York Times] President Reagan conceded that he would not be able to win an advancement of the 10 percent income tax cut set for July and would, instead, have to devote his efforts to preventing Congress from repealing the scheduled cut. Mr. Reagan spoke at a White House news briefing. [New York Times] A major cut in health services of the federal government is sought by the Reagan administration. In a proposal to be submitted to Congress in January, the federal budget office is trying to eliminate the authority of the government's top health official in a plan that would reduce the size of the Public Health Service. [New York Times] A shift from private to public schools was reported by private secondary schools around the country. Admission officers said that an unusually large number of students who accepted admission last spring backed out this fall because of fears about the economy. Boarding schools in the Northeast were the hardest hit, with as many as 30 to 40 students at some schools withdrawing and forfeiting deposits of up to $500. [New York Times] The abortion issue returned to the Supreme Court. For three hours, the Justices heard arguments on the constitutionality of obstacles that state and local governments have placed in the path of women seeking abortions in the nearly 10 years since the Court affirmed their constitutional right to have an abortion. [New York Times] Bias in Chicago park facilities was charged by the Justice Department in a civil rights lawsuit against the Chicago Park District. The suit accuses the agency of widespread favoritism for park programs and facilities in white neighborhoods to the detriment of those in black and Hispanic neighborhoods. [New York Times] The biggest discrimination award ever under the 1964 Civil Rights Act and the 1963 Equal Pay Act was won by 3,500 women who were flight attendants for Northwest Airlines. A federal district judge ordered the airline to pay $52.5 million to the stewardesses, who won a sex discrimination suit against the airline in 1973. An attorney for Northwest said the airline would continue to appeal the original decision. [New York Times] The reclamation of the New Jersey Meadowlands was hailed by Governor Thomas Kean at the dedication of a $5.2 million environmental study center and office building on the slope of old garbage dumps in Lyndhurst. A 20-year, $34.5 million program is to transform 814 acres of old dumps and idle land and 1,186 acres of long-polluted creeks and coves into a year-round, 2,000-acre recreation site two and a half times larger than Central Park. [New York Times] A lottery prize of $8.6 million is luring many New Jerseyans to buy $1 tickets for what state officials say is the largest lottery prize ever offered in the United States. Officials expect this week's receipts to set a record for the Pick-6 Lotto game. [New York Times] President Reagan arrived in Brazil to put his personal endorsement on improved ties between the United States and Latin America's largest country. Brasilia is the first stop on Mr. Reagan's five-day, four-nation Latin American journey. [New York Times] Moderate policies in Spain were pledged by Felipe Gonzales, who said his new cabinet would pursue a domestic policy of austerity and would review military ties to the United States and NATO. In a 70-minute address to Parliament, Mr. Gonzalez outlined a posture as cautious as the men he has carefully picked for the first Socialist cabinet since the Spanish Civil War. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1039.28 (+36.43, +3.63%)
S&P Composite: 138.54 (+4.34, +3.23%)
Arms Index: 0.48

	Issues	Volume*
Advances	1,255	74.52
Declines	416	11.78
Unchanged	283	7.17
Total Volume		93.47

* 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*
November 29, 1982	1002.85	134.20	61.07
November 26, 1982	1007.36	134.88	38.81
November 24, 1982	1000.00	133.88	67.15
November 23, 1982	990.99	132.93	72.92
November 22, 1982	1000.00	134.22	74.96
November 19, 1982	1021.25	137.02	70.30
November 18, 1982	1032.10	138.34	77.62
November 17, 1982	1027.50	137.93	84.44
November 16, 1982	1008.00	135.42	102.91
November 15, 1982	1021.43	137.03	78.89