News stories from Thursday January 10, 1980

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

An apparent Soviet move toward Iran was reported by Western diplomats and Afghan sources in Kabul. They said that the main Soviet military units in Afghanistan seemed to be concentrating on efforts to secure newly established bases and staging areas and clearing highways and other land routes south toward the Iranian frontier. [Page Al, Column 2.] ? Gains by Afghan insurgents were re-ported by the State Department, which said that the rebels had increased their control in two northeast provinces and that heavy fighting between the insur-gents and Soviet-backed Afghan troops was taking place in and around a key city near Pakistan [New York Times] Gains by Afghan insurgents were reported by the State Department, which said that the rebels had increased their control in two northeast provinces and that heavy fighting between the insurgents and Soviet-backed Afghan troops was taking place in and around a key city near Pakistan. Afghan exile groups aid the campaign by the rebels. Some of the exiles, centered in Peshawar, Pakistan, near the Afghan border, are pressing a drive for international support and are believed to be smuggling arms across the frontier to the insurgents. [New York Times] A withdrawal of Soviet troops from Afghanistan is expected to be urged by the United Nations General Assembly, according to some Asian nations sponsoring the call. As the Assembly began an emergency meeting on the issue, sponsors of the demand for withdrawal were said to be confident that a resolution calling for it would win the needed two-thirds vote. [New York Times] Facilitating covert operations by the C.I.A. is being sought by the Carter administration, according to White House officials. They said that congressional leaders had been asked to support a relaxation of a legislative curb on such activities. A senior aide cited the need for a "revitalization" of the agency because of current crises. [New York Times] A major rise in heroin trafficking is in prospect in the United States, where the drug is in short supply because of disruptions in the smuggling from Mexico. Officials estimate that 1,500 tons of raw opium -- 100 times the amount produced in Mexico --were harvested last year in Iran, Afghanistan and Pakistan, refined into heroin in laboratories and carried over a land route to Western Europe, which is being inundated with it. [New York Times] A major program to aid jobless youths to prepare for and enter the work market was announced by President Carter, who proposed spending an additional $2 billion over two years in the effort. The new funds would be added to the $4 billion already being spent by Washington to deal with the massive and persistent unemployment among young people 16 to 21 years old, particularly affecting minorities. [New York Times] George Meany died at the age of 85. He had been the leader and chief spokesman for most of organized labor in the nation since 1955 and stepped down in November after 25 years as the first president of the A.F.L.-C.I.O.A new leader of the Teamsters union is the subject of widespread speculation. The question rose amid rumors, strongly denied by the union, that Frank Fitzsimmons, its president, has cancer. If the leader steps down, the most likely successor is said to be Roy Williams, one of the union's most powerful officials. [New York Times] Four federal judges for Alabama were named by President Carter. They include two lawyers active in civil rights efforts. If approved by the Senate, they would be the first blacks to serve on a federal bench in the state. [New York Times] A Boston Pops Orchestra conductor was named. He is John Williams, the film composer and conductor best known for the scores of "Star Wars" and "Jaws." He also composes classical music. The appointment ended a six-month search following the death of Arthur Fiedler, the orchestra's conductor for half a century. [New York Times]

Stock Market Report

Dow Jones Industrial Average: 858.96 (+8.87, +1.04%)
S&P Composite: 109.89 (+0.84, +0.77%)
Arms Index: 1.01

	Issues	Volume*
Advances	1,082	34.63
Declines	451	14.53
Unchanged	346	6.82
Total Volume		55.98

* 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*
January 9, 1980	850.09	109.05	65.24
January 8, 1980	851.71	108.95	53.38
January 7, 1980	832.00	106.81	44.50
January 4, 1980	828.84	106.52	39.16
January 3, 1980	820.31	105.22	50.47
January 2, 1980	824.57	105.76	40.61
December 31, 1979	838.74	107.94	31.53
December 28, 1979	838.91	107.84	34.42
December 27, 1979	840.10	107.96	31.40
December 26, 1979	838.14	107.78	24.95