What happened on November 2, 1985?

Headlines from November 2, 1985

• 🏗️ Construction Spending Surges – Spending on new construction rose 1.9% in September, marking the biggest gain in six months, according to government reports.
• 🇺🇸 U.S. Keeps Work Flexibility – President Reagan signed a two-month extension allowing full-time Federal workers to adjust their hours for personal needs.
• 📈 Dow Jumps to Record – A sharp rise in stock prices sent the Dow Jones industrial average crashing through its previous record set earlier in the week.
• 🌍 Japan Grants Broker Licenses – Japan's Finance Ministry granted licenses to Kleinwort Benson and Drexel Burnham Lambert to engage in the securities business.
• 📊 U.S. Jobless Rate Steady – The national unemployment rate remained unchanged at 7% as the economy created enough new jobs to match rising job seekers.
• 🎾 Shriver Wins Wightman Cup – Pam Shriver overwhelmed Annabel Croft, giving the U.S. a 3-0 lead over Britain in the 57th Wightman Cup tennis competition.
• 🏦 Thrift Deposits Rise – Deposits at federally insured savings and loan associations rose by $4 billion in September, down from the previous month's increase.
• 📅 Cyprus to Hold Elections – Cyprus Parliament voted to dissolve itself and hold elections on December 8 after a six-hour debate over leadership.
• 📉 U.S. Policy on Angola – The Reagan Administration expressed support for rebels fighting the Soviet-backed government in Angola, signaling a shift in policy.
• 🏦 Illinois Bank Bill Advances – The Illinois House approved a bill to open the state to regional banking, marking a significant change in banking regulations.