News stories from Friday November 6, 1970

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

The Labor Department reported that the unemployment rate is now up to 5.7%. The Bureau of Labor Statistics and the White House blamed the UAW strike against General Motors for the increase. Unemployment was up 0.1% last month and the expected decrease in wholesale prices didn't materialize.The Nixon administration must improve its economic policies. Unemployment was 3.5% when Nixon took office; now he wants to loosen federal spending and ease loans. [CBS] UAW leaders met and may reach a strike settlement with General Motors soon. [CBS] The United Arab Republic and Israel said that they'll continue the cease-fire. In Israel, two bombs hit Tel Aviv; crowds attacked Arabs. Israeli troops are on alert but won't shoot unless the Arabs do. [CBS] Former United Arab Republic President Gamal Abdel Nasser was honored in Cairo. Arabs ended their 40-day period of mourning for Nasser; leaders are considering their next move against Israel. Arabs feel that only the U.S. and USSR can impose peace on the Mideast. [CBS] The Soviets may free the two American generals and a major whose plane made an emergency landing in the Soviet Union two weeks ago. The U.S. State Department expelled a Soviet reporter, forbids the sale of oil refining equipment to Poland, and snubbed a Bolshevik celebration; President Nixon is taking a hard-line approach to get the U.S. officers freed. [CBS] The U.S. launched a satellite designed to warn Americans 30 minutes ahead of a Communist missile attack. [CBS] Army Sgt. James Hobson was found innocent of trying to blow up a military training center in Germany, but was convicted of disobeying an order. [CBS] Italy and China have established diplomatic relations. The Nationalist Chinese ambassador to Italy denounced recognition of Communist China, and the Taiwanese delegation left Italy. [CBS] Ethiopian Emperor Haile Selassie is visiting Italy. [CBS] Assistant Attorney General William Ruckelshaus was appointed to head the Environmental Protection Agency. [CBS] Sailors rescued 14 crewmen from the ship "Caribbean Mist" which sank in a storm in the Atlantic; three or four men are still missing. [CBS] Four men sailed from Ecuador to Australia on a raft made of balsa wood. They lived on rainwater and fish during the 7,000 mile trip. [CBS] San Francisco cable cars are halted by a strike. Workers won't return until charges are dropped against three operators who were arrested for a scuffle last night. [CBS] Detroit police are seeking a man who gave a boy Halloween candy with heroin in it; the boy died. [CBS] Deposed Soviet Premier Nikita Khrushchev will publish his memoirs in Life magazine. [CBS] Air India stewards and stewardesses started a scruffy strike for higher pay. The men won't shave and the women won't comb their hair or smile. [CBS] The federal government is suing General Motors for not telling truck owners of defective wheels. The government is seeking a notification order and a $400,000 fine. [CBS]

Stock Market Report

Dow Jones Industrial Average: 771.97 (+0.41, +0.05%)
S&P Composite: 84.22 (+0.12, +0.14%)
Arms Index: 1.11

	Issues	Volume*
Advances	637	4.16
Declines	627	4.54
Unchanged	330	1.27
Total Volume		9.97

* 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 5, 1970	771.56	84.10	10.80
November 4, 1970	770.81	84.39	12.18
November 3, 1970	768.07	84.22	11.76
November 2, 1970	758.01	83.51	9.47
October 30, 1970	755.61	83.25	10.52
October 29, 1970	753.56	83.36	10.44
October 28, 1970	755.96	83.43	10.66
October 27, 1970	754.45	83.12	9.68
October 26, 1970	756.43	83.31	9.20
October 23, 1970	759.38	83.77	10.27