Biden's Approval Rating Slips Amid Israel-Hamas Conflict. Pentagon Sends 900 Troops To Middle East; Stocks Hit 5-Month Lows

The Israeli-Hamas conflict has now reached its 20th day following the terrorist attacks on Oct. 7. Here are the most recent developments:

President Joe Biden‘s approval rating among Democratic Party voters has dropped by 11 percentage points over the past month to 75%, while his overall approval rating slipped by 4 percentage points to 37%, hitting prior lows, according to a recent poll from Gallup released Thursday. The decline is attributed in part to criticism from some Democratic Party members for his perceived alignment with Israel amid the Gaza conflict.

Brigadier General Patrick Ryder, a spokesperson for the Pentagon, announced at a news briefing that 900 additional US troops are being deployed to the Middle East, outside of Israel. The deployment aims to deter a broader conflict and enhance force protection capabilities, Reuters reported.

The Israeli Defense Forces (IDF) announced that Shadi Barud, deputy head of Hamas' Intelligence Directorate, was killed in an aerial strike. He was heavily involved in orchestrating the Oct. 7 massacre and numerous other deadly assaults against Israeli targets. IDF fighter jets targeted and hit three high-ranking Hamas members within the Daraj Tuffah Battalion.

According to the Times of Israel, the IDF spokesperson, Rear Adm. Daniel Hagari, reiterated that fuel is currently not being permitted into Gaza. Reports are indicating the possibility of a deal to permit fuel into Gaza in exchange for the release of captives held by Hamas. Hagari underscores that Hamas heavily depends on stolen and stockpiled fuel, which could otherwise be utilized for hospitals.

Hagari has also stated that the Israeli army will persist in conducting limited ground raids within the Gaza Strip, that will progressively intensify in the coming days.

A Hamas delegation held discussions in Moscow with a senior Russian foreign ministry official. The talks primarily centered on the release of hostages held by Hamas and the evacuation of Russian and foreign citizens from Gaza.

Israel strongly condemned the meeting between Russian officials and senior Hamas members, with Israeli Ministry of Foreign Affairs characterized this meeting as an act of support for terrorism, saying it legitimizes Hamas’ actions, as Al Jazeera reported.

The United States and Qatar have agreed to review the Gulf State’s relationship with Hamas. As reported by The Washington Post, the reevaluation will occur once Doha finishes its involvement in securing the release of hostages from the Oct. 7 attack in Israel by the terror group.

Palestinian UN envoy Riyad Mansour addressed the UN General Assembly, appealing to member states to halt the violence in Gaza.

Turkish President Tayyip Recep Erdogan continued to voice his criticism of Israel. He stated that Israel’s military operation in Gaza, in response to the Oct. 7 attack by Hamas, has escalated into an atrocity, well beyond the threshold of self-defense, according to CNN.

A collective statement was issued by nine Arab countries, including Bahrain, Egypt, Jordan, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, and the UAE, condemning the targeting of civilians and violations of international law in Gaza, underlining that self-defense should not come at the expense of the rights of Palestinians, CNBC reported.

US Stocks Tumble To 5-Month Lows

The S&P 500 Index, as tracked by the SPDR S&P 500 ETF Trust SPY, ended Thursday’s sessions about 1.2% lower, falling to levels last seen in late May this year.

Tech stocks, as tracked by the Invesco QQQ Trust QQQ, underperformed, falling 1.9% for the day.

Investors flocked to bonds, as Treasury yields fell across all maturities. Consequently, the iShares 20+ Year Treasury Bond ETF TLT rallied 1.5%.

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