Israel is preparing for a military operation in Rafah, targeting Hamas, despite U.S. President Biden's warning against such an action. The operation includes evacuating Palestinian civilians and has been confirmed by David Mencer, a spokesman for Israel's prime minister. Satellite imagery shows tent camps expanding in southern Gaza, indicating preparations for civilian displacement. The U.S. has recently signed a $95 billion foreign aid bill, including $26 billion for Israel and aid for Gaza. Turkey criticized the U.S. for perceived double standards in human rights policies. Israeli Defense Forces struck 40 Hezbollah targets recently. The iShares MSCI Israel ETF (EIS) traded 0.8% lower amid these developments.