This came despite United States markets again heading lower overnight Monday, albeit modestly so compared to Friday night's violent sell-off, where the S&P 500 lost 3.4% and the NASDAQ slumped 3.9%.

Doing the damage late last week was US Federal Reserve Chair Jerome Powell saying:

While higher interest rates, slower growth, and softer labour market conditions will bring down inflation, they will also bring some pain to households and businesses. These are the unfortunate costs of reducing inflation.

So much for the economic soft landing so hoped for by the stock market bulls. The bond market, as demonstrated by an inverted yield curve, is signalling recession. The stock market is shooting first, asking questions later.

The best case scenario could be for a mild US recession, with a commensurate mild stock market correction. The S&P 500 index is already down 16% so far in 2022, having been down as much as 23% in June. Those lows could come back into play as Powell brings "some pain", starting with the next interest rate hike – either 50 or 75 basis points – on 20-21 September.

2) Here in Australia, the ASX 200 is down only 6% so far in 2022. 

It could have been far worse were it not for energy stocks, primarily coal and oil.

The Whitehaven Coal Ltd (ASX: WHC) share price is up over 200% year to date, with the New Hope Corporation Limited (ASX: NHC) share price also burning higher, up 124% so far this year.

The Woodside Energy Group Ltd (ASX: WDS) share price has also had a stellar 2022, up 63%. Not bad for a company with a market capitalisation of $67 billion!

Powering Woodside shares higher today is a bumper set of results, including declaring its largest interim dividend since 2014. The dividend is US$1.09 per share, well up on the 30 US cents paid in FY21. On a trailing basis, Woodside shares trade on a dividend yield of 8.5%.

The Australian Financial Review (AFR) declared earnings season a "windfall" for ASX dividend share investors, saying Australian companies are on track to pay out more than $100 billion in dividends in the 2023 financial year.

So much for a recession here in Australia.

3) It's not just energy companies that trade on very attractive dividend yields. 

The Best & Less Group Holdings Ltd (ASX: BST) share price is up 5% today to $2.75 after the discount retailer reported a "resilient trading performance" with revenue down just 6% despite 11% lost trading days.

Discretionary retailers are often hardest hit during periods of economic slowdown as consumers tighten their belts. 

Exhibit A is the Premier Investments Limited (ASX: PMV) share price, down 33% so far in 2022, a highly unusual experience for shareholders in arguably one of the country's leading retailers.

Exhibit B is the City Chic Collective Ltd (ASX: CCX) share price, down 33% since reporting lacklustre results just last week, and down a very painful 70% year to date. 

Retailing is a tough and fickle business at the best of times, let alone in times of lockdowns, supply chain challenges, staff shortages, rising inflation, and an economic slowdown. Good luck fighting those gale-force headwinds.

But Best & Less is powering forward, saying: "As we move further into an uncertain economic environment, with rising interest rates and cost-of-living pressures placing families under increasing financial strain, we expect an acceleration in the migration to value that is already underway."

With 90% of items sold being priced under $20, Best & Less says it expects Australian families facing cost of living pressures to increasingly prefer its specialty value offer.

Best & Less declared a fully franked final dividend of 12 cents per share, bringing the full year dividend to 23 cents. With Best & Less shares currently $2.75, they trade on a fully franked dividend yield of 8.4%. 

4) Best & Less is one of those rare recent initial public offerings (IPOs) that is trading above its issue price, having raised $60 million at $2.16 per share. 

Spare a thought for shareholders in well-and-truly-busted recent IPOs, Booktopia Group Ltd (ASX: BKG) and Adore Beauty Group Ltd (ASX: ABY), down 88% and 76% respectively from their 2020 issue prices.

Always on the lookout for a bargain, I've been sniffing around for anything that I think might have been a baby thrown out with the bathwater.

After experiencing a modicum of success in the June sell-off, the unforgiving market has recently dealt me some punishment, handing me back some of my short-lived gains, sometimes with interest. 

Stock picking can be a very humbling endeavour. 

5) One recent IPO that I don't own, but looks interesting in more than just name, is BirdDog Technology Ltd (ASX: BDT). The company describes itself as a global video technology company that enhances the quality, speed, and flexibility of video.

The BirdDog Technology share price is down 72% from its 65-cent IPO issue price in November 2021, some of it deservedly so given a financial performance that has been underwhelming. But with a host of new video technology products, and an acceleration of key strategic partnerships, BirdDog looks to be well placed to deliver strong organic growth in the coming year.

The BirdDog share price trades at 18 cents and the company is capitalised at just $36 million. Of that, as at 30 June 2022, $23 million was in cash and $18 million was in current inventory. 

With the company trading at around breakeven in Q4, the downside looks to be limited, to say the least. 

The post ASX dividend windfall continues but it's not just Woodside and ASX 200 energy stocks splashing the big cash appeared first on The Motley Fool Australia.

• Growth and technology shares have suffered brutal falls recently
• But individual businesses can resist market jitters if their growth case is compelling enough
• Playside Studios and BirdDog Technology rose in December, proving to be two such examples

Growth, and especially technology, ASX shares have taken a brutal beating in the past couple of months.

The S&P/ASX All Technology Index (ASX: XTX) has dipped almost 14% from its November highs.

Inflation and interest rate fears are driving down stocks that are perceived to be relying on future earnings to justify their valuations.

But a business can overcome market jitters if it is growing so rapidly that investors just cannot ignore them.

Cyan portfolio manager Dean Fergie pointed out 2 examples in a memo to clients this week.

Both ASX shares rocketed upwards during the month of December, going against market sentiment. And Fergie's fund continues to hold both tightly:

ASX share with 'strong positive catalysts'

Fergie has spoken many times about Playside Studios Ltd (ASX: PLY), which listed in December 2020. But he still remains a huge fan.

"It is rapidly building a strong reputation as a high-quality game developer that can develop games with its own original IP and engage in large work-for-hire contracts for significant multinational clients."

His loyalty has been well rewarded, with the stock climbing more than 145% over the past 12 months.

"This Melbourne-based game developer continued its impressive share price run as it reached its 12-month anniversary of listed life," he said in his memo.

"It recently raised further capital to continue its expansion and looks to have some strong positive catalysts in the months ahead."

Playside shares closed Thursday at $1.05.

'Excited about the future' of this tech stock

Video technology provider BirdDog Technology Ltd (ASX: BDT) listed on the ASX only 3 weeks ago.

Against all odds, the stock has climbed since then.

"This emerging video technology company listed just prior to Christmas and, unlike many other IPOs around the time, held an 11% premium to issue price in a challenging market," said Fergie.

BirdDog shares closed Thursday at 70 cents, up 3.70%.

Fergie is licking his lips at the potential of this Melbourne company.

"We are excited about the future of this truly scalable business as it grows from an already substantial base of revenues ($38 million in FY21) and profitability ($2.6 million EBITDA)," he said. 

"It is now well funded with proven technology and an impressive management team with the ability to execute on a clear expansion strategy."

The post 2 exciting ASX tech shares that actually jumped last month appeared first on The Motley Fool Australia.