Colby Smith, FT's US Economics Editor

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One of the biggest jumps in the S&P 500 that we've seen in quite some time. Federal reserve officials are actively trying to restrain the economy, preparing to raise rates higher than current levels. One thing that we heard from investors yesterday was a word of caution that this rally might be premature.

US stocks roared ahead on Thursday in their strongest day in more than two and a half years, and FTX's founder apologizes for the cryptoexchange's collapse. Plus, how a breakaway firm from PwC is testing western sanctions against Russia.

Mentioned in this podcast:

US stocks surge on lower than expected inflation data

Sam Bankman-Fried apologises for FTX crisis

Accountants in Cyprus break from PwC to retain Russia-linked clients

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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