ASX set to dip, Wall Street steady; Oil prices climb

ASX set to dip, Wall Street steady; Oil prices climb

PepsiCo rose 2.6 per cent after reporting better results for the latest quarter than analysts expected. Customers bought more snacks during the quarter, after the company said in February it would cut prices on Lay’s, Doritos, Cheetos and Tostitos chips to win back people frustrated by high prices. J.B.

Hunt Transport Services rumbled 8.2 per cent higher, and Marsh & McLennan climbed 4.5 per cent after both likewise delivered stronger results than expected. Technology stocks also broadly got some support after Taiwan Semiconductor Manufacturing Co., an industry heavyweight, reported stronger revenue and profit for the start of 2026 than analysts expected. TSMC’s Chief Financial Officer Wendell Huang said the company expects strong demand to continue into the spring.

On the losing end of Wall Street was Abbott, which fell 6.5 per cent even though it reported slightly better results than analysts expected. The health care company cut its forecast for profit over the full year, mostly because of its purchase of cancer-screening company Exact Sciences. Allbirds slumped 27.7 per cent, but that gave back only a portion of its 582 per cent surge from the day before.

The company formerly known for sneakers is pivoting to the artificial-intelligence industry and hopes to rent out the use of high-powered AI chips as a service.