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Israel and Iran's apparent strikes and counterstrikes give new insights into both militaries

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Israel and Iran's apparent strikes and counterstrikes give new insights into both militaries
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ENT

Israel and Iran's apparent strikes and counterstrikes give new insights into both militaries

2024-04-20 12:39 Last Updated At:13:00

WASHINGTON (AP) — Israel demonstrated its military dominance over adversary Iran in its apparent precision strikes that hit near military and nuclear targets deep in the heart of the country, meeting little significant challenge from Iran's defenses and providing the world with new insights into both militaries' capabilities.

The international community, Israel and Iran all signaled hopes that Friday's airstrikes would end what has been a dangerous 19-day run of strikes and counterstrikes, a highly public test between two deep rivals that had previously stopped short of most direct confrontation.

The move into open fighting began April 1 with the suspected Israeli killing of Iranian generals at an Iranian diplomatic compound in Syria. That prompted Iran's retaliatory barrage last weekend of more than 300 missiles and drones that the U.S., Israel and regional and international partners helped bat down without significant damage in Israel. And then came Friday's apparent Israeli strike.

As all sides took stock, regional security experts predicted that Prime Minister Benjamin Netanyahu’s far-right government and the country's allies would emerge encouraged by the Israeli military’s superior performance. In response to international appeals, however, both Israel and Iran had appeared to be holding back their full military force throughout the more than two weeks of hostilities, aiming to send messages rather than escalate to a full-scale war.

Crucially, experts also cautioned that Iran had not brought into the main battle its greatest military advantage over Israel — Hezbollah and other Iran-allied armed groups in the region. Hezbollah in particular is capable of straining Israel’s ability to defend itself, especially in any multifront conflict.

Overall, “the big-picture lesson to take away is that unless Iran does absolutely everything at its disposal all at once, it is just the David, and not the Goliath, in this equation,” said Charles Lister, a senior fellow and longtime regional researcher at the Washington-based Middle East Institute.

Aside from those Iranian proxy forces, “the Israelis have every single advantage on every single military level,” Lister said.

In Friday’s attack, Iranian state television said the country's air defense batteries fired in several provinces following reports of drones. Iranian army commander Gen. Abdolrahim Mousavi said crews targeted several flying objects.

Lister said it appeared to have been a single mission by a small number of Israeli aircraft. After crossing Syrian airspace, it appears they fired only two or three Blue Sparrow air-to-surface missiles into Iran, most likely from a standoff position in the airspace of Iran's neighbor Iraq, he said.

Iran said its air defenses fired at a major air base near Isfahan. Isfahan also is home to sites associated with Iran’s nuclear program, including its underground Natanz enrichment site, which has been repeatedly targeted by suspected Israeli sabotage attacks.

Israel has not taken responsibility for either the April 1 or Friday strikes.

The Jewish Institute for National Security of America, a Washington-based center that promotes Israeli-U.S. security ties, quickly pointed out that Friday's small strike underscored that Israel could do much more damage “should it decide to launch a larger strike against Iran's nuclear facilities.”

Iran's barrage last weekend, by contrast, appears to have used up most of its 150 long-range ballistic missiles capable of reaching Israel, more than 1,000 miles (1,600 kilometers) away, said retired Gen. Frank McKenzie, former commander of the U.S. military's Central Command.

Especially given the distance involved and how easy it is for the U.S. and others to track missile deployments by overhead space sensors and regional radar, “it is hard for Iran to generate a bolt from the blue against Israel,” McKenzie said.

Israelis, for their part, have "shown that Israel can now hit Iran from its soil with missiles, maybe even drones,” said Alex Vatanka, director of the Iran program at the Middle East Institute.

Iran's performance Friday, meanwhile, may have raised doubts about its ability to defend against such an attack, Vatanka said. Iran is about 80 times the size of Israel and thus has much more territory to defend, he noted.

Plus, Israel demonstrated that it can rally support from powerful regional and international countries, both Arab and Western, to defend against Iran.

The U.S. led in helping Israel knock down Iran's missile and drone attack on April 13. Jordan and Gulf countries are believed to have lent varying degrees of assistance, including in sharing information about incoming strikes.

The two weeks of hostilities also provided the biggest showcase yet of the growing ability of Israel to work with Arab nations, its previous enemies, under the framework of U.S. Central Command, which oversees U.S. forces in the Middle East.

The U.S. under the Trump administration moved responsibility for its military coordination with Israel into Central Command, which already hosted U.S. military coordination with Arab countries. The Biden administration has worked to deepen the relationship.

But while the exchange of Israeli-Iran strikes revealed more about Iran's military abilities, Lebanon-based Hezbollah and other Iranian-allied armed groups in Iraq and Syria largely appeared to stay on the sidelines.

Hezbollah is one of the most powerful militaries in the region, with tens of thousands of experienced fighters and a massive weapons arsenal.

After an intense war between Israel and Hezbollah in 2006 that killed more than a thousand Lebanese civilians and dozens of Israeli civilians, both sides have held back from escalating to another full-scale conflict. But Israeli and Hezbollah militaries still routinely fire across each other's borders during the Israel-Hamas war in Gaza.

Hezbollah “is Iran's only remaining potential advantage in this whole broader equation,” Lister said.

Six months of fighting in Gaza have “completely stretched” Israel's military, he said. “If Hezbollah went all out and launched the vast majority of its rocket and missile arsenal at Israel, all at once, the Israelis would seriously struggle to deal with that.”

And in terms of ground forces, if Hezbollah suddenly opened a second front, the Israel Defense Forces “would be incapable at this point” of fighting full-on with both Hezbollah and Hamas, he said.

FILE - An anti-U.S. banner is carried on a truck during Army Day parade at a military base in northern Tehran, Iran, April 17, 2024. This month's unprecedented direct attacks between Iran and Israel are revealing deeper insights into both militaries. Experts say Friday's apparent precision strike by Israel deep into Iran demonstrated Israel's military dominance on almost all fronts. (AP Photo/Vahid Salemi, File)

FILE - An anti-U.S. banner is carried on a truck during Army Day parade at a military base in northern Tehran, Iran, April 17, 2024. This month's unprecedented direct attacks between Iran and Israel are revealing deeper insights into both militaries. Experts say Friday's apparent precision strike by Israel deep into Iran demonstrated Israel's military dominance on almost all fronts. (AP Photo/Vahid Salemi, File)

FILE - Iranian worshippers walk past a mural showing the late revolutionary founder Ayatollah Khomeini, right, Supreme Leader Ayatollah Ali Khamenei, left, and Basij paramilitary force, as they hold posters of Ayatollah Khomeini and Iranian and Palestinian flags in an anti-Israeli gathering after Friday prayers in Tehran, Iran, April 19, 2024. This month's unprecedented direct attacks between Iran and Israel are revealing deeper insights into both militaries. Experts say Friday's apparent precision strike by Israel deep into Iran demonstrated Israel's military dominance on almost all fronts. (AP Photo/Vahid Salemi, File)

FILE - Iranian worshippers walk past a mural showing the late revolutionary founder Ayatollah Khomeini, right, Supreme Leader Ayatollah Ali Khamenei, left, and Basij paramilitary force, as they hold posters of Ayatollah Khomeini and Iranian and Palestinian flags in an anti-Israeli gathering after Friday prayers in Tehran, Iran, April 19, 2024. This month's unprecedented direct attacks between Iran and Israel are revealing deeper insights into both militaries. Experts say Friday's apparent precision strike by Israel deep into Iran demonstrated Israel's military dominance on almost all fronts. (AP Photo/Vahid Salemi, File)

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Stock market today: Wall Street surges as key report shows pullback in hiring

2024-05-03 21:38 Last Updated At:21:40

NEW YORK (AP) — Wall Street opened sharply higher, erasing its losses for the week, after the government reported a cooldown in hiring last month. For markets that was a welcome sign that the Federal Reserve’s efforts to fight inflation by slowing the economy with high interest rates might be making some progress. The S&P 500 rose 1% in early trading Friday. The Dow Jones Industrial Average added 445 points, and the Nasdaq composite climbed 1.7%. U.S. employers added 175,000 jobs last month, down sharply from a blockbuster increase in March. Apple jumped almost 7% after announcing a mammoth $110 billion stock buyback.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

Wall Street pointed toward big gains Friday as a key report showed modest job growth in April, a sign that persistently high interest rates may be starting to take a bigger toll on the world’s largest economy.

Futures for the S&P 500 rose 1.2% before the bell, while futures for the Dow Jones Industrial Average gained 1.4%.

The nation’s employers added 175,000 jobs last month, down sharply from the blockbuster increase of 315,000 in March. It was also well below the 233,000 gain that economists had predicted, suggesting that the Federal Reserve’s aggressive streak of rate hikes may finally be cooling the pace of hiring.

The yield on the 10-year Treasury fell to 4.48% from 4.58% late Thursday.

The U.S. economy is in a tight spot, where the hope is that it remains strong enough to stay out of a recession but not so strong that it worsens the already stalled progress on inflation.

Stubbornly high readings on inflation this year pushed Federal Reserve Chair Jerome Powell to say on Wednesday that it will likely take “longer than previously expected” to get enough confidence about inflation to cut interest rates.

In equities trading early Friday, Apple rose 6% after the tech giant raised its dividend and announced a $110 billion share buyback, even as it posted the steepest quarterly decline in iPhone sales since the outset of the pandemic.

Expedia fell 12.2% after the online travel company beat Wall Street targets but lowered its full-year bookings guidance because its Vrbo rental unit has been slow to recover from its migration to Expedia's platform.

In Europe at midday, Germany's DAX gained 0.4%, while the CAC 40 in Paris and London's FTSE 100 each picked up 0.5%.

Markets in Tokyo and mainland China were closed for holidays.

The Japanese yen strengthened slightly against the U.S. dollar amid signs of heavy central bank intervention to tamp down the dollar’s advance.

The financial newspaper Nihon Keizai Shimbun reported that estimates showed the government spending an estimated 8 trillion yen (about $50 billion) in reserves this week to try to keep the yen from slipping further against the dollar.

The weaker yen has helped boost prices for imported goods, a factor behind the Bank of Japan's recent decision to give up its negative interest rate policy and raise its benchmark rate to zero to 0.1% from a longstanding level of minus 0.1%. It might raise rates further, Marcel Thieliant of Capital Economics said in a commentary, even if its target of 2% isn't met.

“Even though the economic case for preventing the yen from sliding is much weaker, the Ministry of Finance seems to have responded with an even more forceful round of foreign exchange interventions this week than it did two years ago," Thieliant said.

While a weak yen is a boon for Japanese companies that earn much of their revenues overseas, significant shifts in the foreign exchange market can play havoc with corporate planning and a sharply weaker yen also boosts costs for imports of oil and other vital commodities.

The dollar was trading at 153.18 yen early Friday, down from 153.65 late Thursday. The euro rose to $1.0748 from $1.0727.

In Asian trading, Hong Kong's Hang Seng jumped 1.5% to 18,475.92, tracking gains on Wall Street. News of fresh moves by Chinese leaders to energize the economy also helped drive buying of technology shares.

E-commerce giant Alibaba climbed 4.1% and rival JD.com was up 5.5%. Baidu advanced 4.4%.

Australia's S&P/ASX 200 gained 0.6% to 7,629.00 and the Kospi in Seoul slipped 0.3% to 2,676.63. Taiwan's Taiex picked up 0.5%.

India's Sensex shed 0.9% to 73,952.37.

On Thursday, the S&P 500 rose 0.9%, a day after swinging sharply when the Federal Reserve said it's likely delaying cuts to interest rates but not planning to hike them. That more than halved its losses for the week. The Dow advanced 0.9% and the Nasdaq composite jumped 1.5%.

In energy trading, U.S. benchmark crude oil gained 35 cents to $79.30 per barrel in electronic trading on the New York Mercantile Exchange. It lost 5 cents on Thursday.

Brent crude, the international standard, added 43 cents to $84.10 per barrel.

——

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Wednesday, May 1, 2024. (AP Photo/Seth Wenig)

Currency traders pass by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. Asian shares were mostly higher Friday ahead of a report on the U.S. jobs market, with several major markets including Tokyo and Shanghai closed for holidays. (AP Photo/Ahn Young-joon)

Currency traders pass by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. Asian shares were mostly higher Friday ahead of a report on the U.S. jobs market, with several major markets including Tokyo and Shanghai closed for holidays. (AP Photo/Ahn Young-joon)

Currency traders work near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. Asian shares were mostly higher Friday ahead of a report on the U.S. jobs market, with several major markets including Tokyo and Shanghai closed for holidays. (AP Photo/Ahn Young-joon)

Currency traders work near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. Asian shares were mostly higher Friday ahead of a report on the U.S. jobs market, with several major markets including Tokyo and Shanghai closed for holidays. (AP Photo/Ahn Young-joon)

A currency trader smiles near the screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. (AP Photo/Ahn Young-joon)

A currency trader smiles near the screen showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, May 3, 2024. (AP Photo/Ahn Young-joon)

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