News stories from Friday February 6, 1970

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

Egyptian frogmen sunk an Israeli ship. In retaliation, Israeli jets hit 50 Egyptian targets and sunk one ship. [CBS] President Nixon ended his experimental two-day visit to the Midwest, where he was "taking government back to the people." He visited a model sewage plant and spoke to young people, then met with local governors to talk about Lake Michigan's pollution problem. [CBS] A California panel on pollution warned that it is questionable whether several parts of the state will be able to support life within several decades. [CBS] In Cleveland, the grand jury investigating the murders of Joseph Yablonski, his wife, and daughter heard from Silous Huddleston, the father of defendant Annette Gilly. In Washington, a Senate committee is looking into the 1969 United Mine Workers presidential election which Yablonski lost to Tony Boyle. [CBS] Senator Fred Harris resigned as Democratic party chairman, saying that he did so because he wants to speak out on the issues without being the party's official voice. [CBS] The Senate debated the $35 billion education bill and school desegregation. It is scheduled to vote on John Stennis' amendment to slow down desegregation in schools, to allow freedom of school choice, and to let the Department of Health, Education and Welfare take action against the segregation which exists in places other than the South. [CBS] In the "Chicago 7" trial, Abbie Hoffman and Jerry Rubin wore black robes to court to mock Judge Julius Hoffman. [CBS] Charles Manson appeared in court in Los Angeles. Manson still looked confident but in court he was shaky, telling the judge he had just come from solitary confinement and was nervous. Manson sought a delay, but the judge refused. [CBS] The Nixon administration sees evidence that its anti-inflation policy is working, but the Labor Department reported that January had the biggest monthly increase in unemployment since 1960. The Pentagon says that 43,000 military families have an income below the federal poverty level and 12,000 are receiving welfare assistance. [CBS] The International Red Cross has ended relief efforts in Nigeria and the former Biafra because of obstacles created by the Nigerian government. [CBS] The Tet cease-fire is over; the United States and South Vietnam resumed military operations. The enemy cease-fire is still in effect, despite numerous violations. U.S. officials also reported that allied units uncovered the largest enemy weapons and ammunition caches of the war. [CBS] In an interview, former President Lyndon Johnson reopened controversy concerning the 1964 Gulf of Tonkin resolution, contending that all congressional leaders knew of the broad implications -- including Senator William Fulbright. Johnson said that the Tonkin Gulf resolution should have been called the Fulbright Resolution.Senator Fulbright charged that Johnson lied to the Senate about the facts of North Vietnam's attack on U.S. ships, and he believes that Defense Secretary Robert McNamara also misrepresented the facts to Congress. [CBS] U.S. space experts cautioned against undue alarm over Russian reports of creating a satellite which will destroy other satellites. In testing, the Cosmos 248 destroyed two other Soviet satellites. [CBS] Fort Davis, Texas, observatory employee Jack Hyde was charged with attempted murder and malicious damage of property after firing seven shots at the third largest telescope in the world. The reflective mirror of the telescope costs $1 million. [CBS] The Labor Department proposed a new method for settling labor disputes that threaten to become national emergencies, by giving the President the power to impose a settlement based on the last best offers in sealed envelopes. [CBS]

Stock Market Report

Dow Jones Industrial Average: 752.77 (+2.51, +0.33%)
S&P Composite: 86.33 (+0.34, +0.40%)
Arms Index: 1.00

	Issues	Volume*
Advances	777	5.49
Declines	523	3.69
Unchanged	246	0.98
Total Volume		10.16

* 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*
February 5, 1970	750.26	85.99	9.43
February 4, 1970	754.49	86.24	11.04
February 3, 1970	757.46	86.77	16.05
February 2, 1970	746.44	85.75	13.44
January 30, 1970	744.06	85.02	12.32
January 29, 1970	748.35	85.69	12.21
January 28, 1970	758.84	86.79	10.51
January 27, 1970	763.99	87.62	9.63
January 26, 1970	768.88	88.17	10.67
January 23, 1970	775.54	89.07	11.00