Morning Report 3 Aug 22: US sharemarkets fell on Tuesday

The US House of Representatives speaker Nancy Pelosi visited Taiwan, creating tensions between the US and China and weighing generally on investor sentiment. However the tensions provided support for defence companies. Shares in Caterpillar fell 5.8% after warning of a bigger drop in demand for its excavators in China. Shares in Uber Technologies jumped 18.9% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. The Dow Jones index fell by 402 points or 1.2%. The S&P 500 index lost 0.7% and the Nasdaq index fell by 20 points or 0.2%.

Commonwealth Securities Limited ABN 60 067 254 399 AFLS 238814 (CommSec) is a wholly but non-guaranteed subsidiary of Commonwealth Bank of Australia  ABN 48 12 12 124 AFSL: 234945 (the Bank) and a  Market Participant of the ASX Limited and Cboe Australia Pty Limited, a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited. Any advice contained in this broadcast is general advice only. As the information in this  broadcast has not been prepared with reference to your objectives, financial or taxation situation or needs, you should, before acting on it, consider its appropriateness to your circumstances and seek appropriate professional advice. CommSec, the Bank, and their related entities do not accept any liability arising out of or in relation to reliance on the information in this broadcast. We believe that the information in this broadcast is correct as at the time of its compilation, but no warranty is made as to its accuracy, reliability or completeness. This report is under copyright to CommSec and the Bank and may not be used without their prior consent.