News stories from Monday December 13, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- The Senate broke a filibuster that was intended to prevent floor consideration of a bill to increase the federal gasoline tax by 5 cents a gallon, and Senate Republican leaders expressed hope of concluding the post-election session this week as planned. The vote of 75 to 13, 15 votes more than needed, was interpretated as a sign of the strength of the measure, which the House approved last week. [New York Times]
- A compromise on the MX missile is being drafted by Senate leaders. Under the plan, the Reagan administration would receive the funds it wants to build the weapon, but there would be severe restrictions on its ability to spend them. [New York Times]
- A key lending rate was cut by the Federal Reserve to 8% percent from 9 percent, effective tomorrow, in a move intended to stimulate a long-awaited economic recovery. The reduction in the discount rate, which is the interest charged on loans made to banks and thrift institutions, was the seventh since July, when the discount rate was 12 percent. [New York Times]
- An arrest in the Tylenol murders in Chicago was made in New York City. A fugitive charged with a $1 million extortion scheme arising from the September murders was seized by federal agents at the New York Public Library annex in midtown Manhattan after being recognized from a wanted poster. [New York Times]
- The Supreme Court voided a Massachusetts law that gives churches and schools veto power over the issuance of liquor licenses within 500 feet of their property. The Court, in an 8-to-1 opinion written by Chief Justice Warren Burger, declared that the law violated the constitutional separation of church and state. [New York Times]
- The site of a 16th-century mission is believed to have been found by archeologists on St. Catherines Island off Georgia's coast. The archeologists located the site with the aid of modern scientific techniques and they are now digging up Indian pots, arrowheads, iron spikes and bones along with Christian medals and rosary beads that are believed to be the long-lost relics of a Spanish mission. [New York Times]
- Poland's leaders announced actions that they said would "suspend" martial law. But the legislation submitted to Parliament would leave the military regime with sweeping powers, shift key regulations to the regular penal code and underscore the government's power to put other martial law restrictions back into force at any time. [New York Times]
- Criticism of Poland's moves to ease martial law was expressed by Secretary of State George Shultz after he met in Rome with Pope John Paul II. Mr. Shultz said the steps did not seem to meet the Western allies' criteria for lifting economic and political sanctions against Warsaw. [New York Times]
- Details about a Soviet space flight that ended Friday after a record 211 days emerged in Moscow. The reports indicate that the two astronauts had a harrowing re-entry, with their craft rolling across a Central Asian steppe swept by a blizzard and fog. [New York Times]
- Trade sanctions against Austria have been threatened by the United States unless that neutral country acts to halt the transfer of militarily sensitive products and technology to the Soviet bloc. Under Secretary of Defense Fred Ikle issued the warning in an interview published in a Vienna newspaper. [New York Times]
- Brazil seeks more help to pay its foreign debt. Less than two weeks after President Reagan announced a loan of $1.2 billion to help Brazil meet interest payments, Brazilian officials are seeking an additional $1.5 billion in short-term credits through the Bank for International Settlements. [New York Times]
- The danger of war in Lebanon was cited by Foreign Minister Elie Salem. Mr. Salem, answering questions after a speech in Washington, said that renewed combat, far more destructive and international than its civil war, was likely unless Israeli, Syrian and Palestinian forces withdrew within four weeks. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 1024.28 (+5.52, +0.54%)
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* |
| December 10, 1982 | 1018.76 | 139.57 | 86.43 |
| December 9, 1982 | 1027.96 | 140.00 | 90.31 |
| December 8, 1982 | 1047.09 | 141.81 | 97.43 |
| December 7, 1982 | 1056.94 | 142.72 | 111.62 |
| December 6, 1982 | 1055.65 | 141.77 | 83.89 |
| December 3, 1982 | 1031.36 | 138.69 | 71.57 |
| December 2, 1982 | 1033.11 | 138.82 | 77.60 |
| December 1, 1982 | 1031.09 | 138.72 | 107.84 |
| November 30, 1982 | 1039.28 | 138.54 | 93.47 |
| November 29, 1982 | 1002.85 | 134.20 | 61.07 |