Evening Report: Local Shares Fail To Extend Two Day Winning Streak

The Aussie market did get off to a bright start following solid gains on Wall Street but was unable to maintain that momentum past the first hour of trade. Investors continue to digest positive news of a slowdown in the infection rate of COVID-19 in Australia and hot spots around the globe while also considering the economic impact that comes with the forced shutdown of economies. The International Monetary Fund (IMF) is now forecasting a sharp downturn in 2020, the worst since the great depression of the 1930’s, but a sharp rebound in 2021.