Hawks' wings clipped 🦅

Early market trade was all about tech (again) with Block and Appen dominating the top of the ladder for the duration of the session, following the Nasdaq's lead and posting gains for the third session in a row. Overall, the sector added just over 1%. Credit Corp closed up 2.7% after exceeding profit expectations in its half year update, while Boral returning a whopping $3 billion to shareholders saw it close up over 5%. BHP and Rio Tinto were at the bottom of the ladder, while all other sectors posted gains. The RBA set a dove amongst the hawks, pushing back on rate hike expectations as it patiently waits for inflation to be “sustainably” within the target band. Bond yields eased and the Australian dollar dipped, but it only briefly juiced the stock market. After an up and down day, the S&P/ASX200 closed up 34 points or 0.54%. Smaller caps were the clear winner, up 2% while the S&P/ASX20 was dead flat.Our top three VODs:RBA Decision: February 2022Ord Minnett's top picks for the Australian reporting seasonHeath's "high quality" reporting season watchlist Hosted on Acast. See acast.com/privacy for more information.