News stories from Thursday February 25, 1971
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- In his "State of the World" message, President Nixon gave no date for the withdrawal of the last American forces from Vietnam. The South Vietnamese base at Hill 31 in Laos fell to heavy enemy attack today. [CBS]
- The Soviet Union stated that it cannot remain indifferent to the invasion of Laos, and that U.S. involvement will have "serious consequences". Communists at the Paris Peace Talks warned of possible intervention by Red China. [CBS]
- President Thieu says that it's only a matter of time before South Vietnam invades North Vietnam. A bipartisan attempt by Congress was made today to prevent American involvement in any invasion of North Vietnam. A bill was introduced to prohibit any U.S. role in an invasion of North Vietnam without Congress' approval; the usual antiwar congressmen were not the only ones sponsoring the bill. Senator George McGovern declared that he would bring an immediate end to the war if he were President. Senator Hubert Humphrey urged immediate U.S. troop withdrawal from Cambodia and Laos. [CBS]
- President Nixon's "State of the World" message concentrated on Vietnam and White House policy. He said that the U.S. cannot police the whole world but also cannot become isolationist, and he hinted at new steps toward relations with Communist China. The Vietnam war is expected to continue, though the U.S. role will continue to decrease. The President's message stressed philosophy and background, but few specifics.
The North Vietnamese spokesman at the Paris Peace Talks said that the President's statement indicates he is seeking military victory in Vietnam rather than a negotiated settlement.
[CBS] - A 400-foot tunnel from East to West Berlin was discovered by East German guards just hours before 17 people were set to escape. East and West Berlin will discuss the possibility of Easter passes for family reunions. [CBS]
- The Labor Department reported that wholesale prices were up more in January and February than in any other two-month period in the past 15 years; prices were up 0.8% in February. [CBS]
- President Nixon's welfare reform program was endorsed today by House Ways and Means chairman Wilbur Mills, but Mills noted that trade quota legislation could be avoided by voluntary Japanese restriction of textile exports. [CBS]
- Fifty Cuban fishermen are in custody of Florida officials after entering disputed territorial waters near Key West. Four Cuban fishing boats were seized by the U.S. Coast Guard, which released three of them but charged the captain of the fourth with attempting to ram a U.S. boat. Florida officials filed charges against all four Cuban boats, creating a jurisdictional dispute between Florida and the Coast Guard. [CBS]
- A Senate committee heard testimony that so many agencies were involved in surveillance of antiwar activities that spies often trailed other spies. One instance was cited where there were 53 agents in a crowd of 119 people. [CBS]
- The FCC announced a new civil defense alert plan. [CBS]
- Jewish Defense League leader Rabbi Meir Kahane returned to the U.S. after being expelled from Belgium while attempting to attend the World Jewish Conference. The conference ended with an appeal to the USSR to allow Soviet Jews to emigrate to Israel. [CBS]
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Stock Market Report
Dow Jones Industrial Average: 881.98 (+6.36, +0.73%)
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 24, 1971 | 875.62 | 96.73 | 15.93 |
| February 23, 1971 | 870.00 | 96.09 | 15.08 |
| February 22, 1971 | 868.98 | 95.72 | 15.84 |
| February 19, 1971 | 878.56 | 96.74 | 17.86 |
| February 18, 1971 | 885.06 | 97.56 | 16.65 |
| February 17, 1971 | 887.87 | 98.20 | 18.72 |
| February 16, 1971 | 890.06 | 98.66 | 21.35 |
| February 12, 1971 | 888.83 | 98.43 | 18.47 |
| February 11, 1971 | 885.34 | 97.91 | 19.26 |
| February 10, 1971 | 881.09 | 97.39 | 19.04 |