Tuesday July 28, 1970
. . . where the 1970s live forever!

News stories from Tuesday July 28, 1970


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

  • The Israeli government is debating the U.S.' Mideast peace proposal; their parliament questioned the cease-fire proposal.

    The United Arab Republic has banned Palestinian guerrilla broadcasts in Cairo. The commandos are protesting the acceptance of the peace plan by Jordan and the United Arab Republic. [CBS]

  • Communists routed Cambodian troops at Kirirom. [CBS]
  • The Army has dropped My Lai cover-up charges against Col. Robert Luper and Capt. Kenneth Boatman. [CBS]
  • NASA head Thomas Paine resigned, and will return to General Electric. [CBS]
  • Senator Stuart Symington called for a cutback of America's international commitments. [CBS]
  • The Senate passed a $4.4 billion education bill but President Nixon may veto it even though the bill contains a strong anti-busing section. A joint Senate-House committee voted $17.5 billion for urban renewal and veterans' benefits. [CBS]
  • Virginia Knauer, President Nixon's consumer affairs adviser, says that the pending foreign trade bill will hurt low-income consumers. [CBS]
  • A riot rocked a rock concert in Chicago when the crowd attacked the stage and police. Police reinforcements chased rioters, who then vandalized a business district. Mayor Richard Daley said that he thinks the riot was planned. Subsequent rock concerts have been canceled. [CBS]
  • Black leaders in Houston want the FBI to investigate Sunday's violence; they also called for an economic boycott and a civilian-police review board. [CBS]
  • Heavy smog shrouded the East coast; in New York, Consolidated Edison cut power 5% due to a reserve shortage. [CBS]
  • Star witness Linda Kasabian testified against Charles Manson in his Los Angeles murder trial. Kasabian described life in the Manson cult and group sex; she claims that the Beatles' song "Helter Skelter" calls for race war and she told how Manson planned the murders. [CBS]
  • The Nixon administration reported a $2.9 billion budget deficit during the last fiscal year, blaming it on the economic slowdown. [CBS]
  • The presidential yacht "Julie" is not for sale anymore; there were no serious offers. [CBS]
  • Space scientists predict that passengers may visit space stations within seven or eight years. [CBS]


Stock Market Report

Dow Jones Industrial Average: 731.45 (+1.37, +0.19%)
S&P Composite: 77.77 (+0.12, +0.15%)
Arms Index: 0.74

IssuesVolume*
Advances6714.75
Declines5642.95
Unchanged3111.35
Total Volume9.05
* 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
DateDJIAS&PVolume*
July 27, 1970730.0877.657.46
July 24, 1970730.2277.829.52
July 23, 1970732.6878.0012.46
July 22, 1970724.6777.0312.46
July 21, 1970722.0776.989.94
July 20, 1970733.9177.7211.66
July 17, 1970735.0877.6913.87
July 16, 1970723.4476.3412.20
July 15, 1970711.6675.238.86
July 14, 1970703.0474.427.36


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