Ultimate70s.com: 1970's History Day By Day

This Day In 1970's History: Thursday February 11, 1971

On Wall Street, the stock market is booming despite an economy generally in the doldrums. Volume and prices rose during the last two weeks on the stock exchange but a long market slump prior to that has driven out many small investors; large investors account for 60% of stock that changes hands. New York Stock Exchange vice president William Freund says that the two major factors affecting stock prices are interest rates and corporate profits -- the decline in interest rates and rising profits lead to rising stock prices. [CBS] The was little ground fighting during South Vietnam's attack in Laos today, but 12 American helicopters have been shot down in the operation so far. There are reports of U.S. "advisers" in Laos despite the Pentagon and White House insisting that no U.S. ground forces are in Laos. [CBS] New ambassador-at-large David Kennedy will tour South Vietnam to study postwar economic development problems. [CBS] John Connally was sworn in as the new Secretary of the Treasury. Nixon aides consider getting Connally as Treasury Secretary to be a master stroke. The President is planning visits to parts of the U.S. to sell his revenue sharing and government reorganization plans. [CBS] President Nixon participated in an international ceremony comprising 62 nations which signed a treaty banning nuclear weapons from the ocean floors. Soviet ambassador Anatoly Dobrynin stated that now is the time to solve other disarmament questions and that the Soviet Union would welcome a treaty limiting strategic arms. [CBS]

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