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NoneJERUSALEM — Israel approved a United States-brokered ceasefire agreement with Lebanon's Hezbollah on Tuesday, setting the stage for an end to nearly 14 months of fighting linked to the ongoing war in the Gaza Strip. In the hours leading up to the Cabinet meeting, Israel carried out its most intense wave of strikes in Beirut and its southern suburbs and issued a record number of evacuation warnings. At least 24 people were killed in strikes across the country, according to local authorities, as Israel signaled it aims to keep pummeling Hezbollah in the final hours before any ceasefire takes hold. Israel's security Cabinet approved the ceasefire agreement late Tuesday after it was presented by Prime Minister Benjamin Netanyahu, his office said. U.S. President Joe Biden, speaking in Washington, called the agreement “good news” and said his administration would make a renewed push for a ceasefire in Gaza. An Israel-Hezbollah ceasefire would mark the first major step toward ending the regionwide unrest triggered by Hamas’ attack on Israel on Oct. 7, 2023. But it does not address the devastating war in Gaza. U.S. President-elect Donald Trump has vowed to bring peace to the Middle East, but neither he nor Netanyahu have proposed a postwar solution for the Palestinian territory, where Hamas is still holding dozens of hostages and the conflict is more intractable. Still, any halt to the fighting in Lebanon is expected to reduce the likelihood of war between Israel and Iran, which backs both Hezbollah and Hamas and exchanged direct fire with Israel on two occasions earlier this year. Smoke rises following an Israeli airstrike on Dahiyeh, in Beirut, Lebanon, Tuesday, Nov. 26, 2024. Netanyahu presented the ceasefire proposal to Cabinet ministers after a televised address in which he listed a series of accomplishments against Israel’s enemies across the region. He said a ceasefire with Hezbollah would further isolate Hamas in Gaza and allow Israel to focus on its main enemy, Iran, which backs both groups. “If Hezbollah breaks the agreement and tries to rearm, we will attack,” he said. “For every violation, we will attack with might.” Netanyahu's office later said Israel appreciated the U.S. efforts in securing the deal but "reserves the right to act against every threat to its security.” It was not immediately clear when the ceasefire would go into effect, and the exact terms of the deal were not released. The deal calls for a two-month initial halt in fighting and would require Hezbollah to end its armed presence in a broad swath of southern Lebanon, while Israeli troops would return to their side of the border. Thousands of additional Lebanese troops and U.N. peacekeepers would deploy in the south, and an international panel headed by the United States would monitor all sides’ compliance. But implementation remains a major question mark. Israel has demanded the right to act should Hezbollah violate its obligations. Lebanese officials have rejected writing that into the proposal. Biden said Israel reserved the right to quickly resume operations in Lebanon if Hezbollah breaks the terms of the truce, but that the deal "was designed to be a permanent cessation of hostilities.” Hezbollah has said it accepts the proposal, but a senior official with the group said Tuesday that it had not seen the agreement in its final form. “After reviewing the agreement signed by the enemy government, we will see if there is a match between what we stated and what was agreed upon by the Lebanese officials,” Mahmoud Qamati, deputy chair of Hezbollah’s political council, told the Al Jazeera news network. “We want an end to the aggression, of course, but not at the expense of the sovereignty of the state” of Lebanon, he said. “Any violation of sovereignty is refused.” In this screen grab image from video provide by the Israeli Government Press Office, Israeli Prime Minister Benjamin Netanyahu makes a televised statement Tuesday, Nov. 26, 2024, in Jerusalem, Israel. Even as Israeli, U.S, Lebanese and international officials have expressed growing optimism over a ceasefire, Israel has continued its campaign in Lebanon, which it says aims to cripple Hezbollah’s military capabilities. An Israeli strike on Tuesday leveled a residential building in the central Beirut district of Basta — the second time in recent days warplanes have hit the crowded area near the city’s downtown. At least seven people were killed and 37 wounded, according to Lebanon's Health Ministry. Strikes on Beirut's southern suburbs killed at least one person and wounded 13, it said. Three people were killed in a separate strike in Beirut and three in a strike on a Palestinian refugee camp in southern Lebanon. Lebanese state media said another 10 people were killed in the eastern Baalbek province. Israel says it targets Hezbollah fighters and their infrastructure. Israel also struck a building in Beirut's bustling commercial district of Hamra for the first time, hitting a site that is around 400 meters (yards) from Lebanon’s Central Bank. There were no reports of casualties. The Israeli military said it struck targets in Beirut and other areas linked to Hezbollah's financial arm. The evacuation warnings covered many areas, including parts of Beirut that previously have not been targeted. The warnings, coupled with fear that Israel was ratcheting up attacks before a ceasefire, sent residents fleeing. Traffic was gridlocked, and some cars had mattresses tied to them. Dozens of people, some wearing their pajamas, gathered in a central square, huddling under blankets or standing around fires as Israeli drones buzzed loudly overhead. Hezbollah, meanwhile, kept up its rocket fire, triggering air raid sirens across northern Israel. Israeli military spokesman Avichay Adraee issued evacuation warnings for 20 buildings in Beirut's southern suburbs, where Hezbollah has a major presence, as well as a warning for the southern town of Naqoura where the U.N. peacekeeping mission, UNIFIL, is headquartered. UNIFIL spokesperson Andrea Tenenti told The Associated Press that peacekeepers will not evacuate. A police bomb squad officer inspects the site where a rocket fired from Lebanon landed in a backyard in Kiryat Shmona, northern Israel, Tuesday Nov. 26, 2024. The Israeli military also said its ground troops clashed with Hezbollah forces and destroyed rocket launchers in the Slouqi area on the eastern end of the Litani River, a few kilometers (miles) from the Israeli border. Under the ceasefire deal, Hezbollah would be required to move its forces north of the Litani, which in some places is about 30 kilometers (20 miles) north of the border. Hezbollah began firing into northern Israel, saying it was showing support for the Palestinians, a day after Hamas carried out its Oct. 7, 2023, attack on southern Israel, triggering the Gaza war. Israel returned fire on Hezbollah, and the two sides have been exchanging barrages ever since. Israel escalated its campaign of bombardment in mid-September and later sent troops into Lebanon, vowing to put an end to Hezbollah fire so tens of thousands of evacuated Israelis could return to their homes. More than 3,760 people have been killed by Israeli fire in Lebanon the past 13 months, many of them civilians, according to Lebanese health officials. The bombardment has driven 1.2 million people from their homes. Israel says it has killed more than 2,000 Hezbollah members. Hezbollah fire has forced some 50,000 Israelis to evacuate in the country’s north, and its rockets have reached as far south in Israel as Tel Aviv. At least 75 people have been killed, more than half of them civilians. More than 50 Israeli soldiers have died in the ground offensive in Lebanon. Chehayeb and Mroue reported from Beirut. Associated Press reporters Lujain Jo and Sally Abou AlJoud in Beirut contributed. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Stay up-to-date on the latest in local and national government and political topics with our newsletter.(The Center Square) – The Biden administration on Monday instituted a new round of restrictions targeting the export of advanced semiconductor chips and manufacturing equipment to China. This move by the Commerce Department's Bureau of Industry and Security builds on previous measures aimed at curbing China's ability to develop cutting-edge technologies, particularly artificial intelligence and military applications. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
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Major stock indexes on Wall Street drifted to a mixed finish Friday, capping a rare bumpy week for the market. The S&P 500 ended essentially flat, down less than 0.1%, after wavering between tiny gains and losses most of the day. The benchmark index posted a loss for the week, its first after three straight weekly gains. The Dow Jones Industrial Average slipped 0.2%, while the Nasdaq composite rose 0.1%, ending just below the record high it set on Wednesday. There were more than twice as many decliners than gainers on the New York Stock Exchange. Gains in technology stocks helped temper losses in communication services, financials and other sectors of the market. Broadcom surged 24.4% for the biggest gain in the S&P 500 after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Some tech stocks were a drag on the market. Nvidia fell 2.2%, Meta Platforms dropped 1.7% and Google parent Alphabet slid 1.1%. Among the market's other decliners were Airbnb, which fell 4.7% for the biggest loss in the S&P 500, and Charles Schwab, which closed 4% lower. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 17% after raising its forecast for revenue growth for the year. All told, the S&P 500 lost 0.16 points to close at 6,051.09. The Dow dropped 86.06 points to 43,828.06. The Nasdaq rose 23.88 points to 19,926.72. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.40% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.
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