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The number of dead and missing in massive flooding and landslides wrought by Tropical Storm Trami in the Philippines has reached nearly 130 and the president said Saturday that many areas remained isolated with people in need of rescue.

Trami blew away from the northwestern Philippines on Friday, leaving at least 85 people dead and 41 others missing in in one of the Southeast Asian archipelago’s deadliest and most destructive storms so far this year, the government’s disaster-response agency said. The death toll was expected to rise as reports come in from previously isolated areas.

Dozens of police, firefighters and other emergency personnel, backed by three backhoes and sniffer dogs, dug up one of the last two missing villagers in the lakeside town of Talisay in Batangas province Saturday.

A father, who was waiting for word on his missing 14-year-old daughter, wept as rescuers placed the remains in a black body bag. Distraught, he followed police officers, who carried the body bag down a mud-strewn village alley to a police van when one weeping resident approaching him to express her sympathies.

The man said he was sure it was his daughter, but authorities needed to do checks to confirm the identity of the villager dug up in the mound.

In a nearby basketball gym at the town center, more than a dozen white coffins were laid side by side, bearing the remains of those found in the heaps of mud, boulders and trees that cascaded Thursday afternoon down the steep slope of a wooded ridge in Talisay’s Sampaloc village.

President Ferdinand Marcos, who inspected another hard-hit region southeast of Manila Saturday, said the unusually large volume of rainfall dumped by the storm — including in some areas that saw one to two months’ worth of rainfall in just 24 hours — overwhelmed flood controls in provinces lashed by Trami.

“The water was just too much,” Marcos told reporters.

“We’re not done yet with our rescue work,” he said. “Our problem here, there are still many areas that remained flooded and could not be accessed even big trucks.”

His administration, Marcos said, would plan to start work on a major flood control project that can meet the unprecedented threats posed by climate change.

More than 5 million people were in the path of the storm, including nearly half a million who mostly fled to more than 6,300 emergency shelters in several provinces, the government agency said.

In an emergency Cabinet meeting, Marcos raised concerns over reports by government forecasters that the storm — the 11th to hit the Philippines this year — could make a U-turn next week as it is pushed back by high-pressure winds in the South China Sea.

The storm was forecast to batter Vietnam over the weekend if it would not veer off course.

The Philippine government shut down schools and government offices for the third day on Friday to keep millions of people safe on the main northern island of Luzon. Inter-island ferry services were also suspended, stranding thousands.

Weather has cleared in many areas on Saturday, allowing cleanup work in most areas.

Each year, about 20 storms and typhoons batter the Philippines, a Southeast Asian archipelago which lies between the Pacific Ocean and the South China Sea. In 2013, Typhoon Haiyan, one of the strongest recorded tropical cyclones, left more than 7,300 people dead or missing and flattened entire villages.

This post appeared first on cnn.com

Nineteen people died and six others were injured when a bus crashed on a highway in Mexico’s central state of Zacatecas on Saturday, local authorities said.

The accident occurred in the early morning hours when the bus carrying the victims collided with the back of a tractor-trailer carrying corn, which had come loose.

Zacatecas Governor David Monreal earlier on Saturday had initially reported a preliminary death toll of 24 people, but the state attorney general’s office later revised the tally in a statement.

The attorney general’s office said it was “carrying out investigations to arrest the driver” of the tractor-trailer.

Efforts were ongoing on Saturday morning to recover some of the bodies that had fallen into a ravine, a local government official who asked not to be named told Reuters.

Video footage showed rescue teams and security forces, including military personnel, securing the area while rescuers worked to recover the bodies.

The bus was headed for Ciudad Juarez, a city on the US-Mexico border in the state of Chihuahua. The victims did not include migrants, according to the attorney general’s office.

This post appeared first on cnn.com

Polls opened Sunday in Japan’s general election, in a test for new Prime Minister Shigeru Ishiba as he seeks voter support for his scandal-hit party just weeks after taking the role.

Ishiba, the former defense minister, called a snap election immediately after winning the leadership contest of his Liberal Democratic Party (LDP), a conservative political machine that has ruled Japan almost continuously since the party’s founding in 1955.

By calling an election, Ishiba, 67, is seeking a public mandate for the ruling LDP amid falling approval ratings and public anger over one of the country’s biggest political scandals in decades.

The funding scandal involved millions of dollars in undocumented political funds, and lawmakers allegedly lining their own pockets with kickbacks or failing to properly declare their income.

Former Prime Minister Fumio Kishida tried to contain the damage by replacing several cabinet ministers and dissolving LDP factions, essentially coalitions within the party. But he faced calls to resign and announced in August that he would not run for a second term.

His successor, Ishiba, also faces public discontent over increasing living costs, which have been exacerbated by the weak yen, a sluggish economy and high inflation.

The political veteran has pledged financial help to low-income households, a higher minimum wage, and regional revitalization, according to Reuters. He has also promised a “full exit” from Japan’s high inflation rates, vowing to achieve “growth in real wages.”

Ishiba has made strengthening Japan’s relations with the United States a priority and seeks deeper ties with allies amid growing security challenges in Asia, including an increasingly assertive China and belligerent North Korea.

Partnership with Japan has long been central to US strategy in the Asia-Pacific region, and Ishiba’s predecessor Kishida this year expanded Japan’s defense cooperation with its key ally. Ishiba has called for a more balanced relationship, including having greater oversight of US military bases in Japan, Reuters reports.

As defense minister, Ishiba was strong on deterrence as a security issue. He even proposed an Asian version of the NATO security bloc, an idea he has apparently dropped after it was rebuffed by the US.

Ishiba also supports legislation that could allow married women to keep their maiden names, and has said Japan should reduce its dependence on nuclear energy in favor of renewables.

In a political culture that prizes conformity, Ishiba has long been something of an outlier, willing to criticize and go against his own party. That willingness to speak out has made him powerful enemies within the LDP but endeared him to more grassroots members and the public.

He sits on the more progressive wing of the conservative party. His political acumen and experience in domestic and foreign policy likely allowed him to secure the top job.

Voters on Sunday will choose who fills the 465-seat House of Representatives, Japan’s lower house of parliament.

Parties are vying to win a majority of 233 seats, but there are several other significant tallies they can achieve.

A so-called “absolute stable majority” of 261 seats means the winning party or coalition has a committee chair in all of the standing committees plus a majority of committee members. This enables smoother governance and policy-making for the ruling party.

Winning 244 seats would mean the party has the same number of committee members as the opposition.

The number of seats needed for a two-thirds majority to propose constitutional amendments is 310.

Ishiba’s LDP and the New Komeito Party have again agreed to form a coalition and, before parliament was dissolved ahead of Sunday’s election, the two parties controlled the chamber with a 279-seat majority.

This post appeared first on cnn.com

In today’s article and video, we’ll discuss the weakness that pervades nearly all index charts.

Over the past few days, many of the indexes have lost their PMO BUY Signals. Nearly all have crossed beneath their signal lines, with the exception of the Nasdaq which is still holding above. The SPY below shows the PMO Crossover SELL Signal, but we can also see participation of stocks above their key moving averages are trending lower. The Silver Cross Index is below its signal line giving us a BEARISH IT Bias.

The Nasdaq is the only index that still has the PMO holding above its signal line. This is due to the current rally, but that could fail based on the shooting star candlestick being formed on Friday morning. This could also fail considering how we are seeing a bleed off from participation indicators. Admittedly, the Silver Cross Index looks bullish right now, but, given lower percentages of stocks above their 20/50-day EMAs, it should turn down shortly.

Let’s look at the mega-cap heavy indexes. All of these show the same PMO Crossover SELL Signals and bleeding participation. Most of the Silver Cross Indexes are in decline, with some beneath the signal line.

Dow:

Nasdaq 100:

S&P 100:

Smaller-caps are being hit the hardest right now, and aren’t seeing upside reversals on Friday as some of the larger-cap indexes. If there is a place to hedge, small- and mid-cap indexes seem the best place given their weakness hasn’t subsided. The Silver Cross Indexes are all in decline and beneath their signal lines, like all of the small- and mid-cap indexes and broader NYSE.

NYSE:

S&P 400:

S&P 600:

Conclusion: While many large-cap indexes are trying to reverse on Friday, internals are very weak, especially given the PMO SELL Signals. While we could still see an upside reversal, momentum suggests it will take some time to reignite. In the meantime, participation needs to start seeing improvement, rather than bleeding off as it is on all of the indexes. Small- and mid-caps are showing significant weakness and could be an opportunity to hedge your buy and hold positions. Below is a five-minute video that details more of the weakness we see in these indexes.


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Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.


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Bear Market Rules


The global stock market is a big place, and it extends far beyond the borders of the United States. While the US market is undeniably the largest and often sets the pace for others, it’s revealing to step back and consider the global scene occasionally. This broader perspective can alert investors to significant shifts in stock market rotations worldwide, particularly when the US market has marched off on its own.

Current International Rotations

The Relative Rotation Graph (RRG) for international markets above plots several international stock market indices and benchmarks them against the Dow Jones Global Index ($DJW).

The S&P 500 ($SPX) is positioned very close to the center of the chart, hugging the benchmark. This proximity is expected, given that the US constitutes a hefty portion of the Dow Jones Global Index. However, the S&P 500 is also depicted with a short tail within the weakening quadrant, indicating a renewed up-move within the already rising relative trend.

Asian Markets Are Strong

Shifting our focus from the US, we observe several well-defined and robust relative trends in other markets. The Hang Seng Index ($HSI) in Hong Kong stands out, with its tail moving from the lagging quadrant through improving and into the leading quadrant over the last five weeks. This is the longest tail on the RRG, suggesting a powerful move with a positive RRG heading and the highest RS momentum and ratio readings.

Other markets showing positive trends include China ($SSEC) and Japan ($NIKK), both of which have transitioned from the lagging to the improving quadrant. This shift indicates a relative strength and momentum pickup, hinting at likely outperformance in the coming weeks.

Conversely, the Russian ($MOEX) and Korean ($KOSPI) stock market indices are picking up relative momentum but remain within the lagging quadrant, continuing to underperform.

Where is the Money Flowing?

If we assume that global stock market money migrates to the most promising locations, we will notice outflows from certain markets. For instance, India’s CNX 500 has seen its tail move from the leading quadrant through weakening. It is rapidly approaching the lagging quadrant, signaling a shift to underperformance, particularly against the Asian markets and the S&P 500.

Several markets, including the Australian All Ordinaries Index ($AORD), the DJ Europe index ($E1DOW), the Brazilian Bovespa index ($BVSP), and the Mexican Bolsa Index ($MXX) exhibit negative headings closer to the benchmark. The Brazilian market, in particular, shows a long tail crossing into the lagging quadrant. At the same time, the Mexican Bolsa completed a rotation of lagging-improving-lagging at very low RS-ratio levels. This makes it one of the weaker and more dangerous markets from a relative perspective.

Hang Seng Index vs. Indian CNX 500

The Hang Seng Index and the Indian CNX 500 present contrasting trends.

After a prolonged decline, the $HSI has formed a broad trading range and is currently testing a significant resistance level. A break above this resistance could signal substantial upside potential, with relative strength indicators suggesting a bottoming out and a potential shift in trend.

In contrast, the Nifty 500 index in India has completed a toppish formation, with relative strength trending downward. This points to further underperformance and a negative price trajectory for the Indian market.

Zooming in on the daily chart of the Nifty 500 shows that an H&S top formation has just completed, signalling weakness not only from a relative perspective but also in terms of price.

S&P 500 vs. European Markets

The S&P 500 and European markets are also moving in opposite directions.

The Dow Jones Europe index has encountered resistance and shows a breakdown in relative strength versus the global benchmark, confirming a relative downtrend.

Meanwhile, the S&P 500 has broken to new highs in relative strength, affirming its relative uptrend.

Key Takeaways

From an international perspective, the Hang Seng index and the S&P 500 exhibit positive rotations, while the Nifty 500 and European markets are on a negative trajectory. It’s important to note that the strength of the S&P 500 does not guarantee its continued rise; it simply indicates that, at present, it is outperforming many other markets.

By analyzing relative strengths and rotations using Relative Rotation Graphs, investors can gain insights into where the markets may be heading vis-a-vis each other and make more informed decisions.

#StayAlert and have a great weekend, –Julius


When I was growing up, I loved Choose Your Own Adventure books. I see the world in shades of gray instead of black-and-white, so I was immediately drawn to the seemingly endless scenarios that the main characters could experience as I made different choices for them.

As investors, we often get so caught up in one particular market narrative that we are unable to think “outside the box” and consider other possible outcomes. Successful investors I’ve worked with have been exceptionally good at looking at all the possibilities, challenging their own investment thesis by opening themselves up to other options.

Today, we’ll walk through four potential outcomes for the S&P 500 index over the next six to eight weeks. As I share each of these four future paths, I’ll describe the market conditions that would likely be involved, and I’ll also share my estimated probability for each scenario.  

By the way, we ran through four scenarios for the S&P 500 back in July, and you may be surprised to see which scenario actually played out!

And remember, the point of this exercise is threefold:

  1. Consider all four potential future paths for the index, think about what would cause each scenario to unfold in terms of the macro drivers, and review what signals/patterns/indicators would confirm the scenario.
  2. Decide which scenario you feel is most likely, and why you think that’s the case. Don’t forget to drop a comment and let me know your vote and what you think will cause that scenario to play out.
  3. Think about how each of the four scenarios would impact your current portfolio. How would you manage risk in each case? How and when would you take action to adapt to this new reality?

Let’s start with the most bullish scenario, where the S&P 500 keeps going with a consistent pace and breaks above 6000 by early December.

Option 1: The Super Bullish Scenario

The S&P 500 has experienced a remarkably strong run off the low in early August. This first scenario would mean a continuation of the pace of the current trend, suggesting the SPX would remain above a trendline drawn from the August and September lows. This scenario would include the S&P breaking above 6000 for the first time, and by early December, we’d be wondering how we made it through an entire calendar year with the biggest drawdown sitting at just less than 10%.

Dave’s Vote: 5%

Option 2: The Mildly Bullish Scenario

Let’s say that Trump wins a second term, and investors see that as a fairly pro-business and pro-market outcome. At the same time, however, new economic data and the November Fed meeting leave investors a little skeptical of the Fed’s ability to navigate the soft landing scenario into early 2025.

The second scenario would mean we drift a bit higher, but breadth conditions break down as investors gravitate to Magnificent 7 stocks and other safe havens as the VIX pushes above 20. We don’t see a major correction into early December, but it still feels like one is just around the corner and everyone’s talking about overvaluations and a potential Q1 pullback.

Dave’s vote: 25%

Option 3: The Mildly Bearish Scenario

A Harris victory could certainly weigh on the markets as we progress through Q4, as we realize how much investors had been pricing in a Republican White House. Skepticism of the Fed reaches a fever pitch as we’re no longer talking about a potential soft landing, but rather when the next major correction will play out. Volume and breadth divergences that have been growing in October continue to play out, and a 2018-style Q4 drop becomes our reality in 2024.

Dave’s vote: 50%

Option 4: The Very Bearish Scenario

You always need a “doomsday” scenario, where things get bad and stay bad. What if the S&P 500 starts selling off as a frustrating earnings season leads into a contentious election and a November Fed meeting raises more questions than answers? Paul Tudor Jones famously remarked, “Nothing good happens below the 200-day moving average.” And in this scenario, that’s exactly what we’re facing in December as we wonder where how and why the normal Q4 rally is nowhere to be seen.

Dave’s vote: 20%

What probabilities would you assign to each of these four scenarios? Check out the video below, and then drop a comment with which scenario you select and why!

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!


David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

Although earnings season is in full swing, trading volume has been relatively light this week. Perhaps investors are waiting for the stock market to show some direction. It could happen next week, one that’s jampacked with earnings and market-moving economic data, or the following week after the US election and Fed meeting.

A Bird’s-Eye View Of the Stock Market

Tesla’s upbeat Q3 earnings on Thursday juiced up the Nasdaq Composite ($COMPQ), the laggard of the three US broad market indexes. This price action continued into Friday, with the Nasdaq reaching a record high. Sadly, it couldn’t hold on to it, but still managed to close higher by 0.56%. The S&P 500 ($SPX) and Dow Jones ($INDU) snapped their six-week winning streak, but the Nasdaq retained its seven-week winning streak.

Technology was the top-performing sector on Friday, followed by Consumer Discretionary and Communication Services (see the StockCharts MarketCarpets screenshot below). It looked like the stock market had regained its mojo for a little while, but the week ended without giving investors much of a sense of direction. Next week could be a different story, since most mega-cap Tech stocks will report quarterly earnings.

FIGURE 1. STOCKCHARTS MARKETCARPET, OCTOBER 25, 2024. Technology regained its top spot in sector performance on Friday. Next week is a big earnings week for technology companies. Will they impress or disappoint?Image source: StockCharts.com. For educational purposes.

The US dollar and precious metals traded higher this week. The 10-year US Treasury Yield Index ($TNX) bounced off its 200-day simple moving average and closed at 4.23% (see daily chart of $TNX below).

FIGURE 2. DAILY CHART OF 10-YEAR US TREASURY YIELD INDEX ($TNX). $TNX bounced off the 200-day moving average and moved higher. The rise in yields suggests investors are uncertain about near-term market direction.Chart source: StockCharts.com. For educational purposes.

Seeing gold, the US dollar, and Treasury yields rally simultaneously is unusual and is an indication of investor uncertainty. So far, the three seem to be holding on to their uptrends. Whenever there’s a slight pullback, they recover quickly and move higher, suggesting that these assets have momentum behind them. The chart below displays the US dollar ($USD), SPDR Gold Shares ETF (GLD), and $TNX.

FIGURE 3. THE US DOLLAR, GOLD, AND YIELDS. Gold has been trending higher in 2024, whereas the US dollar and yields still display a series of lower highs and lower lows.Chart source: StockChartsACP. for educational purposes.

Even though the US dollar and 10-year yields are rising, they haven’t yet established an uptrend. Gold, on the other hand, has been on an upward trend in 2024. 

If you hold a long position in gold, ride the momentum, but know that it could dry up. It’s a good idea to start thinking about managing your position. Gold prices are looking extended, and with Treasury yields and the US dollar as high as they are, I would watch them closely for a reversal, as it could cause gold prices to fall.

Looking Forward

Next week, we will have some key economic data that could influence the Fed’s interest rate decision at their November 7 meeting. According to the CME FedWatch Tool, a 25 basis point cut probability is 95.5%. This could change as economic data comes in next week. If the data supports a strengthening US economy, investors may think the Fed will not cut rates at the next meeting. This could give rise to fear, which in turn spikes volatility.

The Cboe Volatility Index ($VIX) closed higher, but is still relatively low at 20.33. Keep an eye on it, because even a little negative news could send it higher.

Next week is chock full of market-moving events. Earnings from mega-cap Tech and other large-cap companies, plus key economic data (see the End-of-Week Wrap-Up section below), are among them. If trading volatility remains anemic next week, then you know that investors are having the election jitters. You may have to wait another week for trading volume to pick up.

In the meantime, it’s best to exercise patience and focus more on managing your portfolio holdings. If you are going to add positions, keep your sizes small to minimize your risks. The stock market is vulnerable and could make large moves in either direction.

End-of-Week Wrap-Up

  • S&P 500 closed down 0.96% for the week, at 5808.12, Dow Jones Industrial Average down 2.68% for the week at 42,114.40; Nasdaq Composite closed up 0.16% for the week at 18,690.01
  • $VIX up 12.76% for the week, closing at 20.33
  • Best performing sector for the week: Consumer Discretionary
  • Worst performing sector for the week: Materials
  • Top 5 Large Cap SCTR stocks: Applovin Corp. (APP); Carvana (CVNA); Insmed Inc. (INSM); Ubiquiti, Inc. (UI); MicroStrategy, Inc. (MSTR)

On the Radar Next Week

  • September JOLTS Report
  • Q3 GDP Growth Rate QoQ Adv
  • September PCE Price Index
  • October Jobs Report
  • October ISM Manufacturing PMI
  • Earnings from Alphabet (GOOGL), AMD, Microsoft (MSFT), Meta Platforms (META), Amazon, Inc. (AMZN), Apple Inc. (AAPL), McDonald’s Corp (MCD), Pfizer, Inc. (PFE), Chipotle Mexican Grill (CMG), D.R. Horton, Inc. (DHI), Microstrategy (MSTR), Carvana (CVNA), and many more.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

In this StockCharts TV video, Mary Ellen shares how the markets trade right before the elections, and also reviews the move in Tesla (TSLA) after reporting earnings. She shares examples of what to watch for if your stock is due to report earnings – and what to do if it gaps down.

This video originally premiered October 25, 2024. You can watch it on our dedicated page for Mary Ellen on StockCharts TV.

New videos from Mary Ellen premiere weekly on Fridays. You can view all previously recorded episodes at this link.

If you’re looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Two tickets for passage on what could be the first Chinese rocket ship to take tourists to space were sold Thursday, according to a livestream held by the company, as the country’s commercial space firms aim to join a small but expanding global space tourism industry.

The tickets – priced at 1,000,000 yuan (around $140,000) for a roughly 12-minute trip to the edge of space on a spacecraft set to be launched by Deep Blue Aerospace in 2027 – sold out “immediately,” according to state-linked Global Times.

Some 3 million people tuned in to the broadcast on Chinese shopping platform Taobao, which was the first time a Chinese firm has put tickets for space tourism up for public sale.

The identities of the ticket buyers were not made available.

Deep Blue Aerospace is among a vanguard of Chinese commercial space firms developing rockets to power Beijing’s ambitious plans for outer space, which include building out satellite constellations to rival American firm SpaceX’s Starlink – as China vies to become a dominant space power alongside the United States.

Work remains to be done for the company to meet its announced timeline.

Deep Blue Aerospace’s reusable Nebula-1 rocket – slated to carry the company’s CEO and five others to space for the mission in three years – is still under development.

Last month, the rocket failed to complete a high-altitude vertical recovery test flight, the company said, with footage it released showing the vehicle crashing in its final phase. A new test is slated for next month, while the company has said it will ramp up testing in 2025 and 2026 to ensure the “safety and reliability of suborbital manned travel.”

Companies working in rocket development across the world have frequently faced setbacks and delayed timelines. But on Thursday, Deep Blue Aerospace’s CEO and founder Huo Liang appeared confident that the rocket would be ready to power the 2027 flight, as he discussed the plans during the ticket sale livestream.

Huo explained how passengers can unbuckle their seat belts in space and “move around like fish” in the weightless environment, where they feel “exactly the same lying down as standing up.”

“In this experience, you can not only see how the earth is round, but also the vast universe and the blue planet where humans live,” said Huo, who founded the private company in 2016.

Deep Blue Aerospace aims to join a small group of companies globally offering what’s considered the next frontier of adventure tourism – typically expensive trips where passengers willing to spend hundreds of thousands of dollars can cross the Kármán line some 100 kilometers (62 miles) above Earth’s surface to enter space.

Amazon founder Jeff Bezos’ Blue Origin completed its first commercial human space flight with four private citizens in 2021, while Virgin Galactic, the space tourism venture founded by British billionaire Richard Branson, began offering regular trips to the edge of space last year.

Companies are also looking to expand their offerings to “space tourists.”

Last month, a four-person crew of civilians on board SpaceX’s Polaris Dawn mission made history as the first group of non-government astronauts to conduct a spacewalk.

Deep Blue Aerospace is not the only Chinese firm with a plan to send humans to space. This May, CAS Space said its “space tourism vehicle” will take its first crewed flight in 2028, with tickets priced expected to cost between 2 to 3 million yuan (around $281,000 to $421,000), according to state media.

The company is among a number of Chinese state-backed and private firms that are vying to develop reusable rocket technology, which could help make frequent missions to space more affordable and sustainable.

Access to reusable rockets could be a key development for China as it seeks to expand its launch capacity to build out satellite constellations and power its ambitious civil space program – as well as build out a space tourism industry.

Commentators on the livestream appeared to express some tongue-in-cheek skepticism about sending people to space, with some asking, “(If we go), can we get back?”

And those interested in the remaining seats will get another chance, the company’s page on Taobao said, noting that ticket sales will reopen on November 23.

This post appeared first on cnn.com

Russian soldiers have been heard raising concerns about how North Korean soldiers will be commanded and provided with ammunition and military kit, leaked intercepts obtained by the Defense Intelligence of Ukraine and released on Friday show.

The Russian soldiers talk disdainfully about the incoming North Korean soldiers, codenamed the “K Battalion,” at one point referring to them as “the f**king Chinese.”

In the same extract, a serviceman describes another who has been tasked to “meet people.”

“And he’s like standing there with his eyes out, like… f**k,” the soldier says. “He came here and says what the f**k to do with them.”

The audio was intercepted from encrypted Russian transmission channels on the night of October 23, according to Ukraine’s Defense Intelligence.

Ukraine’s analysis of the intercepts revealed that North Korean troop movements were planned for the morning of October 24, in the area of Postoyalye Dvory field camp in Russia’s Kursk region, where Ukraine launched a surprise incursion earlier this year.

The intercepts also reveal plans to have one interpreter and three senior officers for every 30 North Korean men, which the Russian soldiers are heard in the audio condemning.

“The only thing I don’t understand is that there [should be] three senior officers for 30 people. Where do we get them? We’ll have to pull them out,” one Russian serviceman says.

I’m f***ing telling you, there are 77 battalion commanders coming in tomorrow, there are commanders, deputy commanders and so on,” a serviceman says in another extract.

The interepted audio follows a Thursday announcement from Ukraine’s military intelligence service that a group of North Korean soldiers have been spotted in Russia’s Kursk region, an area that borders Ukraine and has seen ongoing military operations.

In a post on its official Telegram account, the Defense Intelligence of Ukraine said some North Korean troops, who had received training in Russia’s far east, have made their way to the western Russian region, where Ukraine has maintained a foothold since launching an incursion in August.

Ukrainian President Volodymyr Zelensky said Friday that he received a report on the deployment of North Korean military personnel from Ukraine’s commander-in-chief.

“According to intelligence, on October 27-28, Russia will deploy its first North Korean troops in combat zones. This is a clear step in Russia’s escalation that matters, unlike all the disinformation circulating in Kazan these days,” Zelensky said, criticizing the BRICS summit staged by Russian President Vladimir Putin this week in the southwestern Russian city of Kazan.

The Kremlin had initially dismissed allegations of North Korean troop deployments, but on Thursday at the BRICS summit, Putin did not deny that Pyongyang had sent soldiers to the country.

“The actual involvement of North Korea in combat should be met not with a blind eye and confused comments, but with tangible pressure on both Moscow and Pyongyang to comply with the UN Charter and to punish escalation,” Zelensky added.

This post appeared first on cnn.com