‘Best day for the market this year’: ASX 200 rises 1.65 per cent

Sky News Business Reporter Ed Boyd says Thursday was the “best day” for the ASX 200 this year after it rose 1.65 per cent.

Inflation in the United States was weaker than expected overnight, so investors now think the US Federal Reserve could cut rates in September, which helped the Dow Jones surge to record highs.

‘Best day for the market this year’: ASX 200 rises 1.65 per cent

Poker machine maker Aristocrat jumped 12.30 per cent after a better-than-expected half-yearly profit, and property manager Charter Hall was up 6.66 per cent.

The oil and gas sector dropped today, led by Beach Energy, which fell 2.01 per cent.

IDP Education slumped 4.35 per cent after its strong performance yesterday, and medicine maker Mesoblast was down 2.38 per cent.