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February 19, 2025

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It was another mildly bullish week as our major indices climbed very close to new, fresh all-time highs. We also saw a return to growth stocks as we approached breakout levels, which is a good signal as far as rally sustainability goes. Despite this, there remain reasons to be cautious and I’ll point out a couple of those reasons below.

Negative Divergences

The S&P 500 ($SPX) and NASDAQ 100 ($NDX) both seem to be losing bullish price momentum on their respective weekly charts, which can be seen below:

$SPX

$NDX

The price momentum on both indices is slowing and eerily similar to late 2021, just before the cyclical bear market of 2022. Let me be clear that I do NOT believe we’re heading into a cyclical bear market. I don’t see that extent of potential weakness ahead. I do see increased risks of a 5-10% drop, however, and that’s why I’m cautious.

Is This Current Rally Truly Sustainable?

Sometimes a little common sense and perspective goes a very long way. Over the last 75 years, the S&P 500 has averaged gaining 9% per year. So when you go through short-term periods that show gains well in excess of that 9% average, you should at least be thinking there’s the risk that the S&P 500 will fall back and “reversion to the mean”, which is a mathematical concept that describes the tendency of extreme results to move closer to the average. We’ve seen a tremendous rally since the summer correction of 2023. Let’s look at the last 68 weeks (since the correction low in late-October 2023) of return on both the S&P 500 and NASDAQ 100 and compare it to the history of 68-week rates of change (ROC) to gain a sense of this current rally and its sustainability:

$SPX

$NDX

You can look at these two charts and make your own judgement and draw your own conclusions, but, outside of the late-1990s, 68-week ROCs above 50% on the S&P 500 and 60% on the NASDAQ 100 suggest a short-term pullback is more likely, not guaranteed.

Now The Good News

While bullish price action and momentum may seem to be slowing, the long-term monthly PPO on both of these indices is definitely on the rise, which, in my view, limits any short-term downside to the 20-month EMA. I’ll just show the S&P 500 monthly chart, but this will highlight the likelihood that any future selling, if it occurs (no guarantee), holds 20-month EMA support:

$SPX

This chart takes us back 25 years to the turn of the century. The yellow areas highlight poor (below zero) or declining PPOs. During these periods, I’d ignore 20-month EMA support and be cautious. However, the blank periods highlight a rising monthly PPO, during which we rarely see price fall below the rising 20-month EMA. This is where we currently stand. Most pullbacks over the last 25 years, when the monthly PPO is above zero and rising, have fallen short of actual 20-month EMA tests. In other words, we should view a 20-month EMA test as a “worst case” scenario.

The next market decline should be viewed as an OUTSTANDING opportunity to enter this secular bull market.

Stick With Strength

Since we began rolling out our Portfolios quarterly, we’ve had to overcome cyclical bear markets in Q4 2018 (trade war), March 2020 (pandemic), and the first 9-10 months of 2022 (rising inflation and rising interest rates), and a 3-month correction during the summer of 2023. We’ve remained fully invested and have CRUSHED the S&P 500. In fact, below is a graph that highlights our Model Portfolio performance since its inception in November 2018 (in the middle of the trade war!) through the end of January 2025:

We’ve demonstrated the best way to beat the S&P 500, which is to invest in leading relative strength stocks. It’s the only proven method that’s worked for us at EarningsBeats.com. We “draft” our 10 favorite relative strength stocks in various sectors and industry groups and hold them for one entire earnings cycle, then rinse and repeat. Our last quarter’s “draft” picks have annihilated the S&P 500, +15.15% vs. 3.34%.

You can check out our Model Portfolio holdings for the last 3 months below:

8 of our 10 Model Portfolio stocks outperformed the S&P 500, a few by a very wide margin. Owning relative strength stocks like PLTR, CLS, and TPR will completely carry a portfolio and lead to outstanding returns.

Our “quarterly” results are calculated over the following periods:

  • February 19 – May 19
  • May 19 – August 19
  • August 19 – November 19
  • November 19 – February 19

The reason we calculate our quarterly returns using the above time periods is that we select our stocks each quarter on February 19, May 19, August 19, and November 19. By the time we reach these dates, most key market-moving companies have reported their quarterly results and fundamental data like earnings is factored into our portfolio selections just as much as technical considerations. That fundamental/technical combination is one factor that separates us from others and we do this because my background is public accounting. I don’t stray far from my core beliefs. I believe management’s execution of their business strategies/plan and beating revenue and EPS estimates is a huge component of its stock’s upside potential.

On Monday, February 17th, we’re holding our next DRAFT. We will be announcing the 10-equal weighted stocks in each of our portfolios designed to beat the S&P 500 over the next 3-month period. You’re quite welcome to join us. It might change your way of investing and improve your results immediately. CLICK HERE for more information and to register!

Happy trading!

Tom

Elon Musk has signaled interest in auditing US gold reserves stored at Fort Knox, a Kentucky-based army installation, suggesting the Department of Government Efficiency (DOGE) take on the task.

Musk, known for his frequent social media interactions, replied on Saturday (February 15) when an X user said it would be ‘great’ to have Musk make sure Fort Knox’s 4,580 metric tons of gold are really there.

‘Surely it’s reviewed at least every year?’ questioned Musk.

His comment prompted a response from Senator Rand Paul (R-Ky.), who has advocated for increased transparency regarding the gold at Fort Knox for years. He signaled support for an audit with his reply, “Nope. Let’s do it.’

Speaking on ‘Fox & Friends,’ Paul said he has been trying to visit Fort Knox to verify its gold reserves for a decade. He added that he was initially granted permission during the first Trump administration, but the visit never took place.

Paul emphasized to the news outlet that verifying the existence of the site’s gold reserves is critical.

‘I think some of them may not think it needs to be audited all the time, but I think the more sunlight, the better, more transparency, the better. And also, it brings attention to the fact that gold still has value and implicitly, not explicitly, but implicitly, gold still gives value to the dollar,’ Paul said during the interview, highlighting gold’s role in global finance.

Senator Mike Lee (R-Utah) has weighed in as well, claiming he too has been denied access to Fort Knox.

Musk added in a further X post:

“Who is confirming that gold wasn’t stolen from Fort Knox? Maybe it’s there, maybe it’s not. That gold is owned by the American public! We want to know if it’s still there.’

The tech billionaire also drew further attention to the debate by posting a meme.

The last-known full audit of Fort Knox’s gold reserves occurred in 1953.

A partial review took place in 1974 when treasury officials and journalists were allowed to inspect a small portion of the gold. Since then, the facility has maintained strict no-visitor policies, with limited oversight of its holdings.

The US has the largest gold reserves in the world, with over 8,100 metric tons, according to the World Gold Council.

Fort Knox alone houses approximately 147 million troy ounces of gold, currently worth about US$426.3 billion.

While the US Department of the Treasury maintains that the gold remains intact, the absence of recent independent audits has led to speculation. The issue gained renewed attention after Australia discovered counterfeit gold in the Bank of England’s reserves, raising concerns about the authenticity of stored bullion worldwide.

Some financial analysts argue that a lack of transparency at Fort Knox could erode confidence in US gold reserves, particularly at a time when central banks worldwide are increasing their gold holdings.

As mentioned, Musk has indicated that DOGE could be tasked with conducting the audit.

The recently formed department has been involved in reviewing various government agencies, including the US Agency for International Development and the Consumer Financial Protection Bureau.

Musk has not provided specific details on how DOGE would carry out the audit, or whether government approval would be required. However, his involvement has generated significant public interest, with some speculating that private sector oversight could push for more transparency in government gold reserves.

The discussion over Fort Knox’s gold reserves comes as the gold price continues to rise.

Goldman Sachs (NYSE:GS) has boosted its year-end gold price forecast to US$3,100 per ounce, and worries over inflation and economic instability have increased demand for the metal.

At the same time, the debate has drawn comparisons to Bitcoin, with some arguing that digital assets provide a more transparent alternative to traditional gold reserves.

Musk’s comments have fueled speculation over whether missing or mismanaged gold reserves could drive further interest in cryptocurrency as a store of value.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Tuttle Capital Management has submitted regulatory filings for an exchange-traded fund (ETF) that seeks to invest in companies potentially involved in advanced technologies linked to unidentified flying objects (UFOs).

The proposed fund, called the Tuttle Capital UFO Disclosure AI Powered ETF (UFOD), will allocate the majority of its assets to aerospace and defense firms believed to have exposure to classified research and development projects.

According to documentation sent to the US Securities and Exchange Commission (SEC), UFOD is designed to track companies engaged in research that may involve technology beyond conventional scientific advances.

The fund will also take short positions against firms that could be negatively impacted by potential breakthroughs in these technologies. Overall, the ETF’s investment strategy will depend on government disclosures regarding UFO-related research and alleged technological developments.

Tuttle Capital’s CEO, Matthew Tuttle, has stated that the fund’s strategy is based on speculation about the existence and possible reverse engineering of advanced aerospace technologies.

“I’m a trader. I look at (UFOs) and I say that they’re using a power source that is light years beyond anything that we have … If our government has this technology and it’s released, that will be a game-changer,” he told the Financial Times.

The firm’s SEC filing notes that government confirmation of such technologies remains uncertain, and that market sentiment around these themes is highly speculative.

UFOD is part of a broader lineup of artificial intelligence (AI) ETFs that Tuttle Capital is developing. In addition to UFOD, the firm has filed for seven other ETFs, including those focused on AI in healthcare, quantum computing and global innovation.

Each fund will integrate AI-driven selection models to determine portfolio composition and adjust allocations.

The filing states that all eight ETFs, including UFOD, will be listed on the Cboe BZX Exchange.

Specific launch dates and expense ratios have not been disclosed at this time. The regulatory approval process and market conditions will determine the timing of their introduction.

The SEC’s review process will assess whether the proposed ETFs meet regulatory standards. The agency itself has recently seen increased filings for ETFs incorporating AI into investment decisions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Ukrainian President Volodymyr Zelenskyy has declined a US bid to take control of half of Ukraine’s rare earth mineral rights, instead signaling his intention to pursue a more favorable deal.

The proposal, brought to Kyiv last week by American Secretary of the Treasury Scott Bessent, came after President Donald Trump’s controversial suggestion that the US should secure approximately US$500 billion worth of Ukraine’s critical resources in exchange for military support amid the country’s ongoing war with Russia.

The proposed agreement would have granted the US ownership of around 50 percent of Ukraine’s substantial reserves of minerals such as lithium, titanium and graphite — resources vital for high-tech industries and defense.

The deal presented by Bessent centers on repayment for past US aid, without addressing future assistance or security guarantees, a key point of concern for Zelenskyy and his administration.

Zelenskyy, alongside other Ukrainian officials, has expressed reservations over the terms of the deal.

The Ukrainian president is seeking a broader arrangement that ties the country’s mineral rights to ongoing protection.

“We are still talking,” Zelenskyy remarked during a press briefing in Munich on Saturday (February 15).

He emphasized that any agreement would need to involve not just the US, but also other international partners, including European Union countries, to ensure Ukraine’s long-term security and stability.

The lack of clear security guarantees in the proposal has raised questions in Ukrainian circles, particularly as Russian forces continue to target vital infrastructure, including eastern regions rich in mineral resources.

Bessent has defended the US proposal, saying that the presence of American forces looking to secure Ukrainian mineral deposits would serve as a deterrent to Russian aggression. This explanation has done little to reassure Ukrainian officials, who have criticized the deal for failing to offer a substantive long-term security framework.

The Financial Times reported that a senior Ukrainian official, familiar with the negotiations, described the document as “tough,” with little regard for Ukraine’s sovereignty and future needs.

Adding complexity to the negotiations, the US proposal specifies that any disputes over the mineral rights would be resolved under New York law. Ukrainian officials have expressed skepticism about the enforceability of such terms, particularly given the ongoing conflict and the difficulties of conducting business in a war-torn country.

Zelenskyy has made it clear that Ukraine will not sign any deal until further legal review and negotiations are completed.

Ukraine’s mineral sector faces significant challenges. The country’s critical minerals are located in areas heavily affected by the conflict with Russia, making extraction and development operations risky and difficult to manage.

The Zavallivsky graphite mine, for example, a vital source of the nation’s mineral wealth, has suffered from equipment shortages and workforce reductions due to the war, hindering its ability to expand production to meet potential demand.

Furthermore, industry experts have warned that large-scale extraction of Ukraine’s minerals would require significant foreign investment, which remains uncertain amid the unstable security situation. Without it, the country’s mineral reserves are likely remain underdeveloped, despite their immense potential value.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Investors interested in the life science sector are well aware of the importance of biotechnology.

From finding cures for diseases to feeding future generations, many areas of day-to-day life are influenced by players in the biotechnology space, and expert projections show the industry’s future looks bright.

But how can investors gain exposure to biotechnology? Here’s a brief overview of how to invest in the expanding biotechnology market, from stocks to watch to exchange-traded funds (ETFs).

How to invest in biotechnology stocks?

The main method of investing in the biotech sector is through stocks. Right off the bat, when investing in the biotech sector it’s important to understand that there is a difference between a biotech company and a pharmaceutical company.

“From a philosophical standpoint, biotechnology is a risk-taking enterprise, while the pharmaceutical industry is about managing and diversifying risk,” Investopedia explains in an article. Notably, the publication points out that biotech stocks tend to have insignificant revenue compared to pharmaceutical stocks.

When investing in biotech, investors should also pay attention to the US Food and Drug Administration (FDA), which requires that all companies in the sector establish sufficient bodies of information to show that their drugs are safe and effective. That is generally accomplished in the clinical trial phase of product testing, which typically consists of a series of three clinical studies.

Additionally, as with most other sectors, when investing in biotechnology stocks investors must decide on the level of risk they are willing to take. For instance, a large, established biotechnology company with a multibillion-dollar market cap is less likely to succumb to bad market conditions than a more speculative, newly listed company in the clinical trial phase.

How to invest in biotechnology ETFs?

While investing in biotech stocks is generally the more popular choice when it comes to getting involved in the sector, ETFs are a way to mitigate some of the risks that are inherent with investing in stocks.

ETFs hold assets like stocks, commodities and bonds, and trade close to their net asset value. Typically, ETFs track an index. For biotechnology, there are several indexes that can be followed, including the S&P Biotech Select Industry Index (INDEXSP:SPSIBI), the NYSE Arca Biotechnology Index (INDEXNYSEGIS:BTK) and the NASDAQ Biotechnology Index (INDEXNASDAQ:NBI).

The largest ETF in the biotech sector is the SPDR S&P Biotech ETF (ARCA:XBI), which launched on February 6, 2006, and tracks 137 holdings in its portfolio. Its top three weighted companies are Crinetics Pharmaceuticals (NASDAQ:CRNX), Exelixis (NASDAQ:EXEL) and Dyne Therapeutics (NASDAQ:DYN).

The second largest biotech ETF is the iShares NASDAQ Biotechnology ETF (NASDAQ:IBB), which launched on February 5, 2001. This ETF tracks 218 holdings, with the top three — Gilead Sciences (NASDAQ:GILD), Amgen (NASDAQ:AMGN) and Regeneron Pharmaceuticals (NASDAQ:REGN)— weighted at close to or over 8 percent each.

Investors may also want to consider small biotech ETFs — click here for an overview.

What’s the outlook for biotechnology?

It’s often a slow wait when it comes to gains in the biotech market as companies rely on FDA approvals and feedback.

In terms of the sector’s future outlook, Grand View Research predicts that the global biotechnology market will have a compound annual growth rate of 13.96 percent between 2024 and 2030 to reach US$3.88 trillion by the end of the forecast period.

It attributes this growth to the increasing need for new drugs to treat chronic diseases, such as strokes, cancer, asthma and hypertension. The focus is on diagnostics and therapeutic solutions for these chronic diseases. There is also increasing demand for biotechnology innovation in the agriculture sector in response to rising demand for organic food products.

For its part, Verified Market Research is forecasting the global biotechnology market will reach a value of more than US$5.25 trillion in 2030. The firm sees significant advancement and investment in research and development, the rising prevalence of infections and chronic diseases, and increasing government and regulatory support as major drivers of revenue growth for this life science sector in the coming years.

The nanotechnology drug market is a subsector of the biotech space that is also expected to see major growth in the coming years. Precendence Research forecasts that this sector will experience a CAGR of 8.13 percent between 2023 and 2032 to reach a total value of US$183.11 billion.

‘Nanotechnology is critical in the development of drug-delivery technologies that have the potential to expand the medical market,’ stated the report. ‘Nanotechnology can enhance the efficacy of medications that have failed clinical trials. It provides drug delivery systems, treatment, and management for chronic diseases like cancer, HIV/AIDS, and diabetes.’

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any of the companies mentioned in this article.

This post appeared first on investingnews.com

More than 150 whales are stranded off the coast of Tasmania, Australia, according to local authorities.

The state’s Marine Conservation Program said Tuesday a total of 157 animals had become stranded near the town of Arthur River on the west coast of the island and that initial observations showed at least 90 of them were still alive.

“We are currently assessing the situation to plan an appropriate response,” the agency said.

The animals appear to be false killer whales, according to Tasmania’s Department of Natural Resources and Environment.

The Marine Conservation Program said it was working with Tasmania Parks and Wildlife Service in response to the “mass whale stranding” and urged the public not to approach the animals.

“Stranding response in this remote area is complex. If it is determined there is a need for help from the general public, a request will be made through various avenues,” it said.

The government agency said all whales are protected species even when deceased and reminded the public that interfering with a carcass is an offense.

Animal behaviorists and marine scientists say that survival rates for beached whales is low, and the animals “can only survive for around six hours on land before they start to deteriorate.”

This is a developing story and will be updated.

This post appeared first on cnn.com

A Chinese military helicopter flew within 10 feet (3 meters) of a Philippine patrol plane over the South China Sea on Tuesday, in what observers said was the second incident of potentially catastrophic behavior by the People’s Liberation Army against foreign aircraft in a week.

Tuesday’s incident was witnessed by an Associated Press reporter aboard the single-engine Cessna Caravan plane operated by the Philippine Bureau of Fisheries and Aquatic Resources as it patrolled near Scarborough Shoal, an uninhabited rock about 140 miles (222 kilometers) west of the main Philippine island of Luzon.

Scarborough Shoal, which sits amid rich fishing grounds, has been effectively controlled by China since 2012 despite its location inside the Philippines’ exclusive economic zone, according to the Asia Maritime Transparency Initiative.

The AP report said during the approximately 30-minute encounter, the pilot of the Philippine plane warned the Chinese helicopter, “You are flying too close, you are very dangerous and endangering the lives of our crew and passengers.”

The ambassador of the United States, a defense treaty ally of Manila, condemned the “dangerous” maneuvers of the Chinese helicopter.

In a post on X, Ambassador MaryKay Carlson also called on China “to refrain from coercive actions and settle its differences peacefully in accordance with international law.”

A statement from the PLA’s Southern Theater Command said the Chinese helicopter “expelled” the Philippine plane from “China’s territorial airspace,” while saying Manila “has seriously violated China’s sovereignty.”

Tuesday’s incident followed another last week over the South China Sea between an Australian military P-8 reconnaissance jet and PLA fighter planes, during which Australia said the Chinese jets fired flares within 100 feet (30 meters) of its aircraft.

If ingested into the P-8’s jet engines, the flares could have caused catastrophic damage, analysts said.

“They could have hit our P-8 and had that occurred it would have done significant damage to our aircraft and that obviously puts in danger the lives of our personnel,” Australian Deputy Prime Minister Richard Marles said on Friday.

Like the latter incident with the Philippines, the Chinese military said it expelled a foreign aircraft that was intruding into Chinese airspace, in this case over the Xisha Islands, also called the Paracel Islands.

Beijing claims “indisputable sovereignty” over almost all of the 1.3-million-square-mile South China Sea, and most of the islands and sandbars within it, including many features that are hundreds of miles from mainland China. As well as the Philippines, Malaysia, Vietnam, Brunei and Taiwan also hold competing claims.

Potentially dangerous incidents between Chinese and foreign aircraft over the South China Sea are nothing new, with several reported over the past several years between not only Australian and Philippine craft but also those of the US and Canada, who all say they operate in international airspace.

But the two latest incidents in less than a week are raising fears Beijing may be becoming more assertive in enforcing its disputed claims while the attention of the US – a defense treaty ally of the Philippines, Australia and Canada – is focused on the war in Ukraine and tensions in the Middle East.

“China sees that the Trump administration is focused on other theaters and calculates that this is the time to turn the ratchet up in East Asia while America is distracted elsewhere,” said Ray Powell, director of SeaLight, a maritime transparency project at Stanford University’s Gordian Knot Center for National Security Innovation.

“Beijing is following a familiar pattern of gradual escalation,” Powell said.

“Its goal is to normalize its aggressions at ever-greater levels, so that over time they become accepted and discounted as the normal cost of doing business in contested areas.”

Adm. Samuel Paparo, the head of the US Indo-Pacific Command, told a forum in Hawaii last week that China is using similar “gray zone” tactics around the democratic island of Taiwan, which is claimed by Beijing, and which Chinese leader Xi Jinping has vowed to bring under the Communist Party’s control.

Numerous Chinese military aircraft and maritime vessels operate around Taiwan daily.

“Their aggressive maneuver around Taiwan right now are not exercises, as they call them. They are rehearsals. They are rehearsals for the forced unification of Taiwan to the mainland,” Paparo told the Honolulu Defense Forum last week.

This post appeared first on cnn.com

In the 10th row of Delta Flight 4819, Pete Carlson rested in the window seat just before landing at Toronto Pearson International Airport on Monday afternoon, thinking about friends he would see at a paramedics conference where he was scheduled to speak.

John Nelson, another passenger in the 10th row of the CRJ900 twin-jet aircraft, remembered the flight and descent over Canada’s largest city as typical except for “super gusty” winds blowing snow over the runways.

The Delta flight, on a trip from Minneapolis, was cleared for Runway 23 under a westerly wind, with gusts up to 38 miles per hour. “Might be a slight bump in the glide path,” an air traffic controller said. “There will be an aircraft in front of you.”

“Clear to land, Endeavor 4819,” the pilot responded, referring to Delta’s Endeavor Air, the subsidiary which operated the regional jet arriving about 2:15 p.m local time Monday on the snow-covered runway. The wind sent snow swirling into the air, limiting visibility to five miles.

Then everything changed.

The jet came down hard and fast. Flames erupted around the rear landing gear, followed by a growing fire ball shrouded by a rising trail of black smoke, according to video from the scene. The right wing was sheared off as the plane rolled on its back along a tundra-like landscape.

In seconds, the lives of the 80 people on board would be upended – literally – with passengers hanging upside down, their seatbelts preventing them from crashing down. Jet fuel cascaded like rain over the windows. Somehow, all those on board survived, though 21 people were taken to hospitals with injuries.

‘We were upside down, hanging like bats’

Pete Koukov, another passenger, said he “didn’t know anything was the matter” until the hard landing.

He took video showing some passengers, still strapped to their seats, on the overturned jet.

Nelson called it “mass chaos.”

“I was upside down. The lady next to me was upside down,” he said. “We kind of let ourselves go and fell to hit the ceiling – which was a surreal feeling. And then everybody was just like, ‘Get out! Get out! Get out!’ We could smell like jet fuel.”

The two flight attendants had never landed a plane upside down, according to Sara Nelson, international president of the Association of Flight Attendants-CWA. But they had trained for many scenarios, including evacuating passengers within 90 seconds – which they did during Monday’s emergency.

“They were heroic,” Nelson said.

A mix of black smoke and powdery snow rose over the tarmac.

“Oh, no, no, no, no, no!” said a person who took a video of the crash, watching from another plane near the runway.

“Airplane just crashed (runway) 2-3,” a pilot on another flight can be heard saying on recordings of air traffic control transmissions, which also picked up audio of a medevac helicopter that was already in the area.

“We got it in sight,” the helicopter pilot said of the downed jet.

“LifeFlight 1, medevac, just so you are aware there are people outside walking around the aircraft there,” an air traffic controller said.

“Yeah, we’ve got it. The aircraft is upside down and burning,” the medevac pilot responded.

Outside the plane, passengers shot video and photos with cellphone cameras as firefighters tried to douse the flames.

Carlson remembered the powerful sound created by the crash of tens of thousands of pounds of metal against snow-covered concrete.

“The absolute initial feeling is, ‘Just need to get out of this,’” he told CBC.

He unfastened his seatbelt and crashed down onto the plane’s ceiling, now the floor. He didn’t sense panic or fear around him. Instead, Carlson said, everyone on the plane “suddenly became very close” – helping and consoling each other.

“What now?” he remembered thinking. “Who’s leading?”

Row by row, passengers and crew members checked on one another. They made sure people would not fall on others once their seatbelts were unfastened. As a father and a paramedic, Carlson said, he instinctively focused on getting a young boy and his mother who were sitting on the ceiling safely off the plane. The smell of fuel grew stronger.

“You can listen to the preflight all you want but when you’re suddenly upside down, rolled over, everything kind of goes out the door,” he told CBC. Hours after the flight, he still reeked of plane fuel. He wasn’t sure how he got a gash on his head.

‘It’s amazing that we’re still here’

Carlson stepped outside the plane. He recalled marveling at the “amazing” response of police officers, firefighters and paramedics on the scene.

It felt like he was “stepping out onto the tundra,” Carlson told CBC, as he and others helped passengers onto the snow-swept tarmac. The injured were taken away by bus. A triage area was set up at a safe distance from the plane.

“There was a wing there before and when we went out that exit, there was no wing to be found,” he recalled.

In fact, the wing breaking free likely kept the fire out of the passenger cabin, said Joe Jacobsen, an aerospace engineer who has worked for Boeing and the Federal Aviation Administration.

When a wing rips off entirely on impact, it ditches potentially explosive fuel, said Michael McCormick, an associate professor at Embry-Riddle Aeronautical University, noting that fuel used to be stored in the belly of the aircraft.

Other design factors came into play as well. Most modern commercial aircraft are required to have 16G seats – meaning they can withstand 16 times the force of gravity, McCormick said. The seats, designed for durability rather than comfort, are less likely to come apart in an accident.

Carlson was thankful to walk away from the crash.

“I didn’t care how cold it was,” Carlson told CBC. “I didn’t care how far I had to walk, how long I had to stand. All of us wanted to just be out of the aircraft.”

At one point, Carlson removed his coat and put it over the shoulders of the mother with the young son. He snapped a photo of the overturned plane with his phone, and sent a copy to a paramedic friend, who was at the airport to pick him up.

“I simply sent it, saying this is my reality right now,” he said. “Down on the tarmac but alive, which, again, is really amazing.”

The friend and colleague, Renfrew County, Ontario, Paramedic Chief Mike Nolan, saw a huge plume of black smoke rise from the center of the runway and immediately texted Carlson, the keynote speaker at the conference in Toronto this week.

In the end, Carlson said, it was “just people – no countries, nothing … together helping each other.”

Koukov said he felt lucky and happy. He gave a big hug to the person who had been sitting next to him on the flight – as he did when greeted by friends who picked him up at the airport.

Said Nelson, “It’s amazing that we’re still here.”

This post appeared first on cnn.com

Ukraine’s President Volodymyr Zelensky accused Donald Trump of repeating disinformation, a day after the US president falsely accused Ukraine of starting the war with Russia.

Zelensky’s comments were part of what is shaping up to be far the most public exchange of accusations between Kyiv and Washington since the full-scale war started nearly three years ago.

Speaking to reporters in Kyiv, Zelensky pushed back on several unfounded claims the US president made on Tuesday, while reinforcing Ukraine’s position that no deal on ending the war could be done without it.

“Unfortunately, President Trump – I have great respect for him as a leader of a nation that we have great respect for, the American people who always support us – unfortunately lives in this disinformation space,” Zelensky said.

US and Russian officials held high-level talks on ending the war in Ukraine in the Saudi capital of Riyadh on Tuesday, a meeting from which Kyiv was excluded.

The two sides agreed to appoint high-level teams to negotiate the end of the war and said they were working to reestablish diplomatic channels.

Zelensky said that while any country has the right to discuss bilateral issues with Saudi Arabia, the fact that the US held direct talks with Russia “helped Putin out of his long isolation.” Russia has been banished from the global stage since the war began.

It was Kyiv’s complaint about being shut out of the talks that sparked Trump’s tirade of falsehoods on Tuesday.

Speaking late on Tuesday, Trump said: “Today I heard, ‘Oh well, we weren’t invited. Well, you been there for three years. You should’ve ended it after three years. You should’ve never started it. You could’ve made a deal.”

The incorrect claim that Ukraine somehow started the war has long been repeated by the Kremlin and its supporters. The conflict began in 2014, when Russia illegally annexed Crimea, the southern Ukrainian peninsula, and began sponsoring pro-Russian separatists in eastern Ukraine.

Moscow then launched a full-scale invasion of Ukraine in February 2022, attacking its smaller neighbor at night, sending tanks across the border, bombing Ukrainian cities and sending special forces into Kyiv to assassinate Zelensky.

Zelensky hits back

But Trump did not stop at questioning who started the war in Ukraine. Repeating another line often pushed by the Kremlin, Trump appeared to question Zelensky’s legitimacy.

“We have a situation where we haven’t had elections in Ukraine, where we have martial law,” Trump told reporters at his Mar-a-Lago resort, incorrectly claiming that Zelensky’s approval rating was “at 4%.”

Zelensky won more than 73% of the vote in the second round of the 2019 presidential election. While his mandate was meant to end last May, a new election was not held because Ukraine has been under martial law since Russia launched its unprovoked invasion of the country. The martial law prohibits elections.

Speaking on Wednesday, Zelensky specifically said the claim that his approval rating was at 4% comes from Russia, and that Kyiv has some evidence that the numbers were discussed between the US and Russia.

He pointed to a poll conducted by the Kyiv International Institute of Sociology (KIIS) earlier this month which showed that while his popularity dropped significantly since the early days of the war, his approval rate has never dropped below 50% and currently stands at 57%.

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Romania’s foreign minister said he had not come under pressure from US President Donald Trump’s envoy to lift restrictions on social media influencer Andrew Tate, who faces human trafficking charges, despite them discussing the case.

The Financial Times reported on Monday, citing sources, that US officials had brought up the case of Tate and his brother Tristan, both former kickboxers with dual US and British citizenship, in a phone call to the Romanian government.

It said Trump’s special envoy Richard Grenell followed up with Foreign Minister Emil Hurezeanu at the Munich Security Conference. A source told the FT a request was made to return the brothers’ passports and allow them to travel while they wait for court proceedings to conclude.

The brothers are banned from leaving Romania pending a criminal investigation on accusations of forming an organized criminal group, human trafficking, trafficking of minors, sexual intercourse with a minor and money laundering. They have denied all wrongdoing.

Tate, the highest profile suspect facing trial for human trafficking in Romania, was banned from almost all social media platforms before Trump’s now adviser Elon Musk took over X and reinstated his account.

Hurezeanu told Euronews late on Tuesday he had had an informal chat with Grenell in a hallway during the Munich conference. Hurezeanu cited Grenell as saying he remained interested in the fate of the Tate brothers.

“I did not perceive this statement as pressure, just a repeat of a known stance,” Hurezeanu said.

“I don’t know what pressures of another nature were made before or after but what I discussed with Mr. Grenell was cordial, informal, brief, non-binding and I certainly did not detect any form of pressure.”

A first criminal case against Tate and his brother failed in December when a Bucharest court decided not to start the trial, citing flaws in the indictment.

A Romanian court lifted a house arrest order against Tate in January, replacing it with a lighter preventative measure. In October, a court ruled he should get back luxury cars worth about 4 million euros ($4.43 million) that were seized by prosecutors, pending the investigations.

In Munich last week US Vice President JD Vance took a swipe at European governments for what he described as their censorship of free speech and their political opponents and specifically mentioned the cancellation of Romania’s presidential election based on what he said was flimsy evidence.

Romania’s top court ordered a rerun of the vote following suspicion of Russian interference in favor of the unexpected first round winner, the pro-Russian far-right Calin Georgescu. Russia denied any interference in Romania’s election campaigns.

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