News stories from Tuesday October 7, 1980
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Iraqi forces pounded Abadan, the Iranian oil refining center, with heavy artillery and air strikes as convoys of Iraqi armor reportedly crossed a frontier waterway to reinforce troops in the port of Khurramshahr. Iranian jets bombed two major Iraqi oil installations and Teheran radio reported that Iranian gunners had shot down two Iraqi planes over Abadan. [New York Times]
- Most Iranians back their leaders with apparent dedication in the war effort, donating blood and cash and volunteering for military service. The residents of Teheran appear unflappable in the face of worsening shortages of food and other necessities and the increasing raids by Iraqi bombers. [New York Times]
- Ronald Reagan accused the President of reaching "a point of hysteria" in charging Monday that the Republican's election as President would dangerously divide the country. Mr. Carter had said that a Reagan victory might separate "blacks from whites, Jews from Christians, North from South, rural from urban." The "low level" of the campaign being waged by President Carter and Ronald Reagan was deplored by John Anderson. The Representative said that it would attract voters to his independent candidacy for President. [New York Times]
- Racial violence among Boston students snarled classes at South Boston High School, a center of trouble over court-ordered busing in the city. A brawl last Thursday between black and white pupils injured 14 young people, and most whites have refused to return to classes until metal detectors are installed in the building. [New York Times]
- Edward Kennedy joined the President as Mr. Carter signed into law a major reorganization of federal aid programs for mental health services. Meanwhile, the chief of the Carter campaign acknowledged that the President was trailing Ronald Reagan in the opinion polls. [New York Times]
- New charges in the Senate race in New York were made in broadcasts. Alphonse D'Amato blamed Representative Elizabeth Holtzman for "the terror of crime" in her Brooklyn district while the Liberal Party, which is backing Senator Jacob Javits, accused Mr. D'Amato of involvement in kickbacks and petty corruption. [New York Times]
- A second Congressman was convicted of criminal charges arising from the Abscam investigation. Representative John Jenrette, Democrat of South Carolina, was found guilty on all three counts of bribery and conspiracy by a federal court jury that had deliberated four and a half hours after a five-week trial. [New York Times]
- Concern over depletion of ozone in the atmosphere has prompted the Environmental Protection Agency to propose a limit on the production of chlorofluorocarbons. Some scientists believe that these substances threaten to exhaust the ozone layer. Two years ago, this view led the goverment to ban the use of aerosol products that used the flurocarbons as a propellant. [New York Times]
- Paris deplored anti-Semitic terrorism in a four-hour march by a throng of perhaps 100,000 or more. The participants expressed a repudiation of the bombing last Friday at a Jewish temple that took the lives of four people and seriously injured 10. [New York Times]
- Greater Soviet influence in the Mideast is imminent, according to Arab diplomats, who disclosed that the Soviet Union and Syria were expected to sign a friendship treaty in Moscow today. A leading Syrian official was said to have described the accord as nearly an alliance. A moderate Arab diplomat warned that such an accord "could legitimize Soviet intervention in a Middle East war." [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 960.67 (-5.03, -0.52%)
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* |
| October 6, 1980 | 965.70 | 131.73 | 50.12 |
| October 3, 1980 | 950.68 | 129.33 | 47.50 |
| October 2, 1980 | 942.24 | 128.09 | 46.16 |
| October 1, 1980 | 939.42 | 127.13 | 48.71 |
| September 30, 1980 | 932.42 | 125.46 | 40.29 |
| September 29, 1980 | 921.93 | 123.54 | 46.40 |
| September 26, 1980 | 940.10 | 126.35 | 49.43 |
| September 25, 1980 | 955.97 | 128.72 | 49.51 |
| September 24, 1980 | 964.76 | 130.37 | 56.86 |
| September 23, 1980 | 962.03 | 129.43 | 64.39 |