What were 3 stories that defined Israel in 5786?

The year 5786 was so packed with consequential events for Israel and the Jewish people that choosing the stories that defined it is no simple task. But as Israelis prepare to celebrate Rosh Hashanah on Friday at sundown and usher in 5787, ALL ISRAEL NEWS asked experts to look back at the year that was and identify the moments they believe will shape the year ahead.

Multiple people interviewed agreed that the most defining moment of 5786 was when the United States and Israel partnered in a joint operation against Iran. Shortly after Israel launched Operation Roaring Lion, the United States launched its own operation, codenamed Operation Epic Fury.

According to Brig. Gen. (Res.) Amir Avivi, founder and former chairman of the Israel Defense and Security Forum (IDSF/Habithonistim), the joint war was “unprecedented” in American or Israeli history. Even Winston Churchill, he said, did not manage during World War II to get the United States to fight alongside England until Japan directly attacked the United States.

“That joint operation put into motion events that are still playing out,” Avivi said. “I think this war has the most important bearing on what will happen next year, in 5787, including the anticipated collapse of the Iranian regime and most of its proxies.”

A second defining story, one that many readers may not remember, took place during 5786: the return of the last living hostages.

On the 20th of Tishrei 5786, the final 20 surviving captives came home. Tens of thousands of Israelis streamed to what had become known as Hostages Square to watch their return with tears of joy. Then, only a few months later, on the 8th of Shevat of the same year, the final hostage remains were recovered from Gaza, leaving no Jewish captives behind.

“This was really surprising,” recalled Harel Chorev-Halewa, a senior researcher at the Moshe Dayan Center. “I think many of the experts believed that Hamas would do what it could to keep some hostages as an insurance policy. The fact that this is not the case shows us that we should recalibrate some of our presumptions regarding Hamas.”

Finally, a third story of 5786 was Israel’s economy and stock market, which somehow soared in the midst of war.

From the beginning of the war on Oct. 7, 2023, through the end of 2025, the TA-35 rose 98.4%, according to the Tel Aviv Stock Exchange. In 2025 alone, a year that overlapped 5785 and 5786, it jumped 51.6%. By comparison, the S&P 500 rose 17.9% and the Nasdaq 100 gained 21% when measured in shekels.

But the economic resilience extended beyond the stock market. High-tech output grew close to 10% in 2025, according to the Israel Innovation Authority, and the sector continued to account for more than half of Israeli exports and a significant share of the country's overall economic growth.

Perhaps most surprising was the shekel's strength. Today, the dollar stands at around NIS 3.02, compared with around NIS 4 at the start of the war.

“The performance of the Israeli economy has been astonishing,” Avivi said. “This story gives a very clear understanding of the huge potential winning the war could have on the State of Israel.”

Avivi added that although it was “obviously a very, very challenging year,” he believes it was also a year that laid the groundwork for what could become “a golden age for Israel.”

He said, “There is huge potential for really securing Israel and bringing about prosperity.”

Lt. Col. (Ret.) Jonathan Conricus, a senior fellow at FDD, agreed. He told ALL ISRAEL NEWS that despite the fact that Israel continues to face military, economic, political and cultural challenges, “I remain optimistic about the future. I am extremely thankful.”

He said, “In the spirit of Rosh Hashanah, when you count your blessings and you acknowledge your blessings and the amazing things that you have in life, I'm extremely thankful for the bravery of our troops, our Mossad, Israel Security Agency, and the Police… I'm also thankful of the many good decisions made by this government to maintain an aggressive mindset and to keep the pressure on our enemies and to engage and to break free of old paradigms of thought, and to challenge those and to shape the reality in a different way.”

Conricus called on the people of Israel to find a way to unify and work together so that the country's enemies are frustrated rather than emboldened, and so the Jewish people can continue to flourish in the State of Israel.

After a year marked by war with Iran, the return of the final hostages and an economy that repeatedly defied expectations, 5786 ends with Israel still facing profound challenges. But for Conricus, the lesson heading into 5787 is also one of gratitude, unity and recognition of what Israel has managed to preserve despite the pressures of another extraordinary year.

“We should love our country and be thankful for the blessings that we have living in our free, democratic and Jewish homeland,” Conricus concluded.