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Israel moves into Gaza's second-largest city and intensifies strikes in a bloody new phase of the war

Israeli troops have advanced into Khan Younis, the second-largest city in Gaza, marking a significant escalation in Israel's ground campaign in the southern region. This recent surge in conflict between Israel and Hamas is noted as the most severe since hostilities commenced two months ago. Israel's objective is to dismantle what it perceives as Hamas' principal stronghold. There are reports that Israel is considering using seawater to flood the tunnels in Gaza, aiming to obliterate the subterranean network utilized by Hamas.

The United Nations reports that over 1.87 million Palestinians, constituting approximately 80% of Gaza's population, have been forced to leave their homes. The casualty figures in Gaza have escalated to a minimum of 15,800, as per the figures provided by the Health Ministry controlled by Hamas, while Israel's death toll is approximately 1,400. Of the over 240 individuals kidnapped by Hamas in an attack on October 7, at least 137 remain in captivity.

In a related development, the United States State Department has announced the imposition of visa restrictions on a number of Israeli settlers and Palestinians. These individuals are suspected of involvement in reciprocal attacks in the West Bank. The geographic distance between Gaza and the West Bank is around 30 miles.

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Apple’s market cap closes above $3 trillion

Apple's valuation reached a significant milestone, surpassing the $3 trillion mark as its shares experienced a 2% increase, closing at $193.42 each on a recent Tuesday. This achievement marks the first time Apple's market capitalization has touched this level since August.

The tech giant first attained a market value of over $3 trillion in June, with a brief peak at this figure in December 2022 during midday trading activities. Apple's stock achieved its highest value to date on July 31, maintaining its status as the most valuable company traded publicly in the United States.

This landmark achievement underscores Apple's robustness in the market. The company, renowned for its iPhone products, has seen its stock price escalate by more than 48% this year. This impressive growth comes despite Apple's strategy of lowering its total number of shares through repurchase programs.

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US job openings in October lowest since 2021, well below forecasts

In October, the number of job openings in the United States dipped to the lowest point seen in over two and a half years, indicating a significant decrease in the demand for labor. This shift is largely attributed to the rising interest rates.

According to the Job Openings and Labor Turnover Survey (JOLTS) released by the Labor Department on Tuesday, the ratio of job vacancies to unemployed individuals in October was 1.34 to 1, the smallest since August 2021. The report also noted a decline in employee resignations, suggesting a trend of workers opting to stay in their current roles. This stability in the workforce could contribute to a reduction in wage inflation over time.

Furthermore, this data, coupled with recent reports indicating a decline in inflation in October, has fueled optimism about the Federal Reserve potentially halting its interest rate hikes. There is growing anticipation in financial circles and among economists that the Fed might even consider a rate reduction by mid-2024.

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