Israel-Hamas War Day 11: Biden Heads To Middle East As Gaza Humanitarian Crisis Deepens, Terrorist Hostage Video Surfaces

As the Israel-Hamas war enters its 11th day, here are the most recent updates on the conflict:

• President Joe Biden is set to visit Israel on Wednesday, responding to mounting pressure to provide assistance and safety for the hundreds of thousands of Palestinians who have fled their homes in Gaza in anticipation of a possible Israeli invasion.

• During his visit, Biden is expected to hold meetings with Prime Minister Benjamin Netanyahu, President Isaac Herzog, and the families of hostages and missing individuals, as the Times of Israel reported. He will also participate in a four-way summit hosted by Jordan's King Abdullah II, which includes Palestinian Authority President Mahmoud Abbas and Egypt’s President Abdel-Fattah el-Sissi. The primary objective of this summit is to address the ongoing humanitarian crisis in Gaza.

• Additionally, German Chancellor Olaf Scholz is scheduled to meet with Prime Minister Netanyahu on Tuesday, and French President Emmanuel Macron is likely to visit Israel in the near future.

• The Israel Defense Forces have reported that two more anti-tank missiles were fired from Lebanon near Kibbutz Yiftah, and several army posts along the border were attacked by gunmen from Hezbollah. Furthermore, the Israel Defense Forces conducted a series of airstrikes across the Gaza Strip targeting Hamas headquarters, military sites with assembled members, and hidden apartments.

• Hamas has released a video of a woman, Mia Schem, who was abducted from an Israeli music festival on October 7. The video shows her receiving medical treatment for a wound above her right elbow, with her arm being bandaged by an off-camera individual. Analysis by The New York Times suggests that some of the footage in the video was filmed at least six days ago.

• According to Al Jazeera, Iran has issued a warning of a potential “preemptive” action against Israel in the coming hours, as Israel prepares for a ground offensive on the Gaza Strip.

• The United Nations has revealed that Israeli Air Forces continued strikes in Khan Younis and other southern areas of Gaza, despite the directive for Gazans to relocate south. Gaza faces a severe water crisis, raising concerns about dehydration and waterborne diseases due to the breakdown of water and sanitation services. The last seawater desalination plant in Gaza has also been shut down, and hospitals in Gaza have fuel reserves sufficient for just 24 more hours.

Investor Risk Sentiment Fades As Dollar, Gold Surge

Risk sentiment faltered on Tuesday, in contrast to the robust risk-on session observed on Monday.

The U.S. dollar index (DXY), as tracked by the Invesco DB USD Index Bullish Fund ETF UUP, rose 0.3%, likely reacting to better-than-expected retail sales figures last month.

Gold, as represented by the SPDR Gold Trust ETF GLD, ticked higher by 0.2% to $1,922/oz, despite a stronger dollar and rising Treasury yields, with the 10-year yield surging 10 basis points to 4.82%.

Equity indices fell across Europe, with the pan-European Euro Stoxx 50 index, as tracked by the SPDR DJ Euro Stoxx ETF FEZ, down 0.9%.

Futures on the S&P 500 index traded 0.6% lower as of 08:50 a.m. ET.

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