News stories from Wednesday July 30, 1980

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

Jerusalem is formally Israel's capital under a law enacted in Parliament by a vote of 69 to 15, with 3 abstentions. The legislation has been criticized by many countries, including the United States and Egypt, and it is expected to make it harder to renew the talks between Israel and Egypt on self-rule for Palestinians in the occupied West Bank and Gaza. [New York Times] The Billy Carter case widened as the White House issued a statement saying that President Carter had discussed with his brother classified State Department cables dealing with Billy Carter's trip to Libya in September 1978. Several Congressmen said that they had seen an F.B.I. report in which Billy Carter stated that the President had given him copies of the cables. The White House said the President did not recall having done so.A new investigation of Billy Carter will be opened by the Justice Department, officials announced. They said they had obtained new evidence suggesting that the President's brother had not told federal agents the truth about the payments he had received from Libya. An official said that Billy Carter had "lied" to him. [New York Times] The Carter campaign was jolted by the President's acknowledgement that he had discussed with his brother classified cables about Libya. Earlier, Senate Majority Leader Robert Byrd was reported to have found deep uneasiness among most Senate Democrats about the President's prospective renomination. [New York Times] An unexpectedly big economic rebound in June was shown by the government's index of leading indicators, the Commerce Department reported. The key barometer of the future direction of the economy rose by 2.5 percent in its first significant gain in more than a year. It was the largest monthly increase since June of 1975. [New York Times] A former Army doctor won an appeal of his conviction last year of the murders of his wife and two daughters a decade ago. In a 2-to-1 decision, a federal appellate court ordered the dismissal of the charges against Dr. Jeffrey MacDonald on the ground that his right to a speedy trial had been violated. He had been sentenced to three consecutive life terms. [New York Times] Senator Howard Cannon was cleared by the Senate Ethics Committee of implications of improprieties. By a unanimous vote, the panel said that the Democrat of Nevada had carried out no unethical financial dealings to enhance the value of his holdings. [New York Times] Three murderers were recaptured after a six-hour siege near Charlotte, N.C., two days after they escaped from a Georgia prison. The body of a fourth fugitive, apparently beaten to death, was found in a nearby lake. [New York Times] The end of a nuclear moratorium imposed after the 1979 reactor accident at the Three Mile Island plant was in prospect. A Virginia utility expected the Nuclear Regulatory Commission to grant an application for full operations at a new plant. [New York Times] A controversial murder charge has been made against two men in Detroit who engaged in a gun battle. A bullet struck a Jehovah's Witness, who refused a blood transfusion because his religion forbids it and then died. The gunfighters have been charged with first-degree murder under a 19th-century anti-dueling law. The case turns on contradictory legal rules and is apparently unprecedented. [New York Times] Moscow pressed for arms cuts as the key to world peace. Leonid Brezhnev, the Soviet leader, said there could be no "retreat" from detente as symbolized by the 1975 Helsinki accords on human rights. [New York Times] A leading British newspaper may close in the fall. The management of The Observer of London, a 189-year-old Sunday paper, sent dismissal notices to more than 1,000 employees and said that its last issue would be published on Oct. 19 if a deadlock in wage negotiations was not resolved. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 936.18 (+4.27, +0.46%)
S&P Composite: 122.23 (-0.17, -0.14%)
Arms Index: 1.19

	Issues	Volume*
Advances	972	30.32
Declines	600	22.24
Unchanged	352	5.50
Total Volume		58.06

* 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*
July 29, 1980	931.91	122.40	44.84
July 28, 1980	925.43	121.43	35.33
July 25, 1980	918.09	120.78	36.25
July 24, 1980	926.11	121.79	42.42
July 23, 1980	928.58	121.93	45.90
July 22, 1980	927.30	122.19	52.23
July 21, 1980	928.67	122.51	42.74
July 18, 1980	923.98	122.04	58.04
July 17, 1980	915.10	121.44	48.87
July 16, 1980	904.44	119.63	49.13