Is Ceasefire Possible for Israel and Hamas?

Alex Marquardt, Christiane Amanpour track the latest news from the middle east.
3:00 | 11/18/12

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Transcript for Is Ceasefire Possible for Israel and Hamas?
We begin with the escalation of violence in the mideast today being met with possible cease-fire. Israel expanded its air assault on gaza as its iron dome defense system protected tel aviv. Its most popular city from a hamas rocket attack. Team coverage. Christiane amanpour is in jerusalem but begin with alex marquardt in gaza city. Alex. Reporter: Good morning, biannament overnight the israeli air force targeted bigs. The big question whether a cease-fire will be able to be brokered before israel launches a ground invasion. Israeli jets pummeling gaza overnight. Two buildings housing hamas and international media were targeted. Six journalists were wounded. From the sea, volley after volley of naval artillery hit alleged terror sites. So far, more than 50 palestinians have been killed and more than 500 wounded. We're sacking a heavy price from hamas said israeli prime minister benjamin netanyahu and the military is prepared for a significant expansion of its operations. For days, tanks and troops have been building up along the border ahead of a possible invasion. Far fewer rockets were fired from gaza overnight but this morning, sirens wailed in tel aviv as hamas fired two rockets. Both intercepted by the iron dome anti-missile system. Three israelis have been killed around 50 wounded. Egypt and turkey are working feverishly to try and stop the violence. "The israelis are rejecting the cease-fire" a haps spokesman told us. They continue carrying out massacres against our people. Officials are saying tight-lipped. For the momentrockets are still being fired in israel. We will go on with military operations. We're not excluding any option includinging the diplomatic option. Reporter: Israeli analysts say the likelihood of a ground invasion is diminishing that israel's top leadership doesn't really want it, but the conditions of a cease-fire are very far from being resolved meaning the possibility of a ground invasion is still very real. Bianna? All right, alex, thank you. Now let's go to jerusalem which has not been spared from rocket attacks in the past 48 hours. Abc's global affairs anchor christiane amanpour is there with the latest. Christiane, with talk of a possible ground assault how likely is a cease-fire at this point? Israel said they're rejecting it as we heard from alex. Reporter: Well, n rejecting it. What we understand is that it is a tense waiting game. I just spoke to a senior israeli official who says, look, this is a jeweled track operation as far as they're concerned. They're hoping that international diplomacy, the u.S. Pressuring and working with its allies, egypt and turkey to try to pressure hamas and israel also in contact with egyptian mediators at the same time israel as we can see massing for a potential military operation if they decide to do one. We are -- it's been confirmed to me that prime minister netanyahu spoke with president obama on friday just before the president went off to asia, and they are just hoping that this does resolve itself, but the conditions are still a little far apart. Israel wants to make sure that hamas never fires another rocket into this state and also that it cannot be rearmed via the western sort of side of gaza and hamas wants to make sure there are no more targeted assassinations and it wants to be able to have the siege of gaza lifted so condis still quite far apart. Delicate act of diplomacy. All right, christiane, we appreciate you reporting live for us this morning. Thank you.

This transcript has been automatically generated and may not be 100% accurate.

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