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President Joe Biden and Qatar's Prime Minister confirmed that Israel and Hamas reached a ceasefire deal that aims to end the war in Gaza. It is set to take effect on Sunday.

The first phase of the agreement includes a six-week truce and a withdrawal of Israeli forces from populated areas.

Hamas will initially release 33 Israeli hostages in exchange for more than 1,000 Palestinian prisoners.

Mr. Biden said that phase two would be a permanent end of the war. Both sides still have

to formally approve the agreement. Israel's cabinet is expected to vote on Thursday. Mr. Biden,

who leaves office on Monday,

called the deal, quote,

one of the toughest negotiations I've ever experienced.

Wall Street banks delivered robust fourth quarter results,

led by strong performance in their trading

and investment banking divisions. Goldman Sachs posted $4.1 billion in profits, more than double the previous year, as equities

trading hit record levels.

JP Morgan also excelled, with trading revenues jumping 21% to $7 billion. Wells Fargo's profits increased by 47% despite flat loan growth.

Russia launched large air strikes on Ukraine, firing dozens of missiles and drones at power infrastructure across the country.

Ukraine's Air Force said it destroyed most of the missiles

...