Echoing the words of Hezbollah leader Hassan Nasrallah in 2006, Hamas leaders express surprise at the scale of Israel’s attack, while the group claims “victory” (1), (2). Into the second day of the cease-fire, residents of Gaza continue to take stock (3), (4). Gaza reconstruction will cost “billions,” but Arab leaders have been unable to agree a strategy for rebuilding (6), (7). President Abbas is seen as “the big looser” in the conflict, but Ha’aretz reports that outgoing Israeli Prime Minister Olmert privately discussed dividing Jerusalem with Arab leaders (8), (9). An op-ed by ATFP President Ziad Asali and Tom Dine, former executive director of the American Israel Public Affairs Committee, urges President Obama to take immediate steps to salvage a two state solution to Middle East peace (10). The Christian Science Monitor and the Middle East Times consider the return to government of former Middle East negotiator Dennis Ross (11), (12). The Guardian notes that Arab governments have been severely discredited during the conflict (14). Bret Stephens suggests that Israel scored a tactical “victory,” while David Grossman points to the futility of such violence (15), (16).