Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

The Palestinian death toll in the Gaza Strip has climbed to 49,617, with 112,950 others injured, as a result of more than 17 months of Israeli military operations, the Gaza health authorities said on Thursday.

Since the latest round of hostilities started on Oct 7, 2023, Israeli forces have conducted sustained military actions in Gaza, exacerbating the humanitarian crisis and inflicting heavy casualties.

On Jan 19 this year, Israel and Hamas reached a ceasefire agreement in Gaza. As part of the first phase of the agreement, the Israeli military allowed residents of the Gaza Strip to cross the Netzarim Corridor at the end of January to return to their homes in northern Gaza.

Israel ended the two-month ceasefire and resumed Gaza bombardment on Tuesday.

In a statement released on Wednesday, the Israeli military said it had launched a "targeted ground operation" in central and southern Gaza, aiming to create a buffer zone between the northern and southern parts of the Palestinian enclave.

The latest Israeli attacks have killed at least 710 Palestinians and injured 900 others in Gaza since Tuesday, Khalil al-Daqran, a spokesman for Gaza health authorities, said on Thursday.

Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

Palestinian death toll in Gaza rises to 49,617 as Israel renews strikes

U.S. stocks were relatively unchanged on Thursday as investors consolidated recent gains amid growing certainty that the Federal Reserve will deliver a 25-basis-point interest rate cut at its Dec 10 monetary policy meeting, the final one of 2025.

The Dow Jones Industrial Average fell by 31.96 points, or 0.07 percent, to 47,850.94. The S and P 500 added 7.40 points, or 0.11 percent, to 6,857.12. The Nasdaq Composite Index increased by 51.04 points, or 0.22 percent, to 23,505.14.

Six of the 11 primary S and P 500 sectors ended in red, with consumer staples and health leading the laggards by losing 0.73 percent respectively. Meanwhile, industrials and technology led the gainers by adding 0.51 percent and 0.43 percent, respectively.

A report released Thursday by Challenger, Gray and Christmas showed that announced corporate job cuts in November pushed the year-to-date total well beyond 1 million, driven primarily by corporate restructuring, the accelerated adoption of artificial intelligence, and tariff-related adjustments. The data followed Wednesday's private payrolls report by Automatic Data Processing, Inc., which revealed an unexpected sharp slowdown in hiring.

These developments have solidified market expectations for monetary easing. According to the CME FedWatch Tool, the probability of a quarter-percentage-point rate cut next Wednesday now stands at 87 percent, a significant increase from weeks ago.

Market analysts noted that the strong year-to-date performance of U.S. equities, combined with the widely anticipated December policy action, has led to a period of consolidation. With the rate cut largely priced in, many expect major indices to trade sideways through year-end before reassessing direction in early 2026.

In corporate developments, Meta Platforms Inc. surged 3.4 percent after Bloomberg reported that the social media giant plans to substantially reduce expenditure on its metaverse initiatives. Among other major technology stocks, Nvidia, currently the world's most valuable listed company, advanced 2.2 percent, while the remaining "Magnificent Seven" large-cap technology names showed mixed performance.

Financial stocks outperformed the broader market, reflecting heightened expectations of a supportive interest-rate environment. JPMorgan Chase rose 1.27 percent, while Wells Fargo and Citigroup both gained 1 percent.

Investors are now turning their attention to key economic data due on Friday. The U.S. Commerce Department will release delayed September figures on personal income, consumer spending, and the personal consumption expenditures price index -- the Federal Reserve's preferred gauge of inflation. Additionally, the University of Michigan will publish its preliminary December consumer sentiment survey.

U.S. stocks little changed as job cuts increase