The conflict in Gaza continues to escalate, with key developments at Al-Shifa Hospital and across the region, coupled with intensified international diplomatic engagements, as the Israel-Hamas war enters its 43rd day since the start of the hostilities.
Here are the latest developments:
Israeli military’s discovery at Al-Shifa: The Israeli military claims to have discovered a tunnel shaft within the Al-Shifa Hospital complex, which they allege is part of Hamas’s tunneling infrastructure. This assertion was supported by a video released by the Israeli Defense Forces (IDF).
Recovery of soldier’s body: On Friday, the IDF announced the retrieval of the body of Noa Marciano, a soldier previously held captive by Hamas in a building near the hospital. This follows the recovery of the body of Yehudit Weiss, a 65-year-old Israeli woman who was kidnapped by Hamas on Oct. 7.
Netanyahu considers ‘temporary cease-fire’ conditioned on hostage release: In a recent interview with CBS News’ Norah O’Donnell, Israeli Prime Minister Benjamin Netanyahu laid out Israel’s conditions for a potential “temporary cease-fire” in the ongoing conflict with Hamas, which would be contingent on the release of hostages held by Hamas. The Israeli Prime Minister also mentioned “strong indications” that the hostages held by Hamas are located at Al-Shifa Hospital in Gaza.
Israel’s fuel concession to Gaza: Israel has agreed to permit two fuel trucks daily into Gaza for essential services like water and sewer systems, according to the Times of Israel. This decision, influenced by recommendations from the IDF, Shin Bet, and U.S. officials, is aimed at alleviating the humanitarian crisis in Gaza. National Security Minister Itamar Ben Gvir criticized the move, arguing that it shows weakness and empowers Hamas leader Yahya Sinwar.
Raid in Jenin and water Crisis in Gaza: Israeli security forces conducted a raid in Jenin, resulting in casualties among Hamas militants, CNN reported. A UN human rights official has urged Israel to cease using water as a “weapon of war” in Gaza, highlighting the dire situation due to fuel shortages affecting water supply.
International meetings: Turkish President Recep Tayyip Erdogan is set to discuss the Israel-Hamas conflict with German Chancellor Olaf Scholz in Berlin. This meeting is expected to cover the broader context of the European Union-Turkey migration deal, amid diverging views on the Gaza situation.
Market Reactions
The Israeli shekel (ILS) has gained 0.2%, reaching its highest level since mid-August.
Israel’s primary stock market index, the Tel Aviv 125, saw a 1.1% increase, fueling optimism for the performance of the iShares MSCI Israel ETF EIS in Friday’s trading.
In U.S. markets, stocks started off weaker, with the SPDR S&P 500 ETF Trust SPY dropping 0.2% and the tech-focused Invesco QQQ Trust QQQ declining 0.4% minutes after the opening bell.
Treasury yields remained stable, while the U.S. dollar index (DXY) saw a slight decrease of 0.2%.
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