News stories from Tuesday December 14, 1982

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

The House defied the threat of a veto by President Reagan in approving a stopgap government spending bill containing a $5.4 billion public works job program that Democratic leaders contended was needed to combat a "deep depression." Mr. Reagan is said to be strongly opposed to the job program as "make-work." [New York Times] New concessions on the MX missile were made by President Reagan. He agreed to allow Congress to freeze spending for development until it approved a system for basing the inter-continental weapon. Officials said Mr. Reagan had made the major concession after being told that approval of the missile was in jeopardy in the Senate. [New York Times] Congressional salaries would rise 15 percent, to $69,800 a year from the present $60,662, under legislation approved by a 303-to-109 vote in the House. The Representatives also voted a 15 percent pay increase for federal judges and top officials in the executive branch. The legislation now goes to the Senate. [New York Times] The President denied being "scared" of the Social Security issue. Members of his deadlocked bipartisan commission continued to press him to indicate a preference for a plan to reform the troubled program or seek a compromise with Democratic congressional leaders, but Mr. Reagan said he wanted the commission to make recommendations first. [New York Times] The House Ethics Committee, which has been investigating allegations of homosexuality and sexual misconduct by members of Congress and its pages, issued an interim report that concluded that "virtually every one" of the assertions was unfounded. The panel is beginning to examine allegations regarding the use and distribution of drugs by Congressmen and employees. [New York Times] Surgeons replaced the left side of Dr. Barney Clark's artificial heart after it began to fail and he experienced a dangerous drop in blood pressure. Dr. Clark's doctors described him as a "very, very sick" man whose condition was complicated by the fact that he had developed pneumonia in his left lung. [New York Times] The 1979 murder of a federal judge resulted in convictions for the accused sniper and two other defendants after an 11-week trial in San Antonio. After deliberating 18 hours, a federal jury, with several members in tears, found the three guilty of planning, carrying out and trying to cover up the assassination of federal district judge John H. Wood. [New York Times] The tide of homeless Americans is rising across the country, and the head of a service organization cited estimates that the number of homeless was between a half million and two million people. A House subcommittee will hold tomorrow the first congressional hearing on homeless Americans since the Depression. [New York Times] More than 1,000 people were killed in the earthquake that devastated areas of Yemen Monday. The government said that more than 1,100 people had been hospitalized. The temblor leveled at least 11 villages and badly damaged 142 in the rugged, mountainous country. [New York Times] An American-French accord was announced after day-long talks in Paris. The two countries said they had agreed on specific projects for coordinating allied strategy on economic relations with Moscow. Under the agreements and with the expected approval of the other allies, NATO will for the first time play a major role in defining economic issues that may affect the alliance's security. [New York Times] Cuts in American-Polish links in scientific and cultural areas at the governmental level and a tightening in the issuance of visas for Americans were announced by Warsaw. The Polish authorities said they were retaliating for what they termed a "notoriously" anti-Polish policy on the part of the Reagan administration. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 1009.38 (-14.90, -1.45%)
S&P Composite: 137.39 (-2.56, -1.83%)
Arms Index: 2.01

	Issues	Volume*
Advances	629	21.80
Declines	991	69.19
Unchanged	351	7.39
Total Volume		98.38

* 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*
December 13, 1982	1024.28	139.95	63.13
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