OUTLOOK FOR THE NASDAQ 100, NIKKEI 225, ASX 200 INDICES:

• Nasdaq 100 futures rose after gaining 0.23% on Monday
• FDA Approval of Biogen’s Alzheimer’s Drug Boosted its Share Price by 38%
• Asia-Pacific stocks are expected to experience a mixed opening on Tuesday. Bitcoin has plunged

Nasdaq 100, Biogen, Minimum tax, Bitcoin, Asia-Pacific at the Open:

Wall Street shares were mixed on Monday as a global minimum corporate taxconsensus at the summit of the G-7 weighed on the feeling. Multinational companies, such as Amazon and PayPal, are more vulnerable to potential changes. Only 32.9% of S&P 500 companies finished higher, although the index barely fell at the close.

Tech sector outperformed thanks to FDA approval of Aducanumab by Biogen – the world’s first drug to target an underlying cause of Alzheimer’s disease – has boosted the biotechnology industry. Biogen’s share price jumped 38% and continued higher into the aftermarket hours.

Price Bitcoin – the most traded cryptocurrency – has plunged more than 5% to $ 33,700 amid a new wave of headwinds. Prices began to drop on Friday after Elon Musk posted a tweet suggesting he had “broken” with the digital token. News that the US Department of Justice (DOJ) seized 63.7 Bitcoins from the hacking group DarkSide responsible for the Colonial Pipeline attack weighed on crypto sentiment again. $ 33,700 appears to be an immediate support level, a breakout that could lead to further losses towards the $ 33,000 mark.

Investors wait for Thursday Inflation figures in the United States clues to rising prices and their ramifications for the Fed’s monetary policy. The recent rise in the PCE’s core reading and a robust recovery in the labor market pave the way for Fed officials to start a debate on the reduction. The critical part is how quickly will the central bank cut its bond purchases by $ 120 billion per month and when could start. Before a clearer picture is drawn on this prospect, markets may be reluctant to rise significantly.

Source: Bloomberg, DailyFX

Asia-Pacific Markets seems ready to open in mixed on Tuesday. Futures contracts in Japan, Australia, Hong Kong, South Korea and Thailand are trading slightly higher, while those of mainland China, Taiwan, Malaysia and India are in the red.

the Nikkei Index 225 struggled with the 29,000 level on Monday as disappointing Chinese export data suggested that the growth momentum of the world’s second largest economy could slow. Japan’s economy contracted -3.9% in the first quarter, compared to a forecast of -4.8%, according to data released this morning. Better than expected GDP data may provide some support for trade today.

australia ASX 200 Index slipped 0.19% on Monday after closing at a record high of 7,295.4 on Friday. Reflation is hoping to revitalize big mining companies like Rio Tinto and BHP, while soaring bullion prices have pushed gold miners up. The index traded slightly higher at the opening, led by the real estate (+ 0.45%), healthcare (+ 0.40%) and consumer staples (+0 , 32%).

Looking ahead, euro area GDP data dominates the economic agenda alongside the Canadian and US trade balance. Learn more about DailyFX Economic Calendar.

Nasdaq 100 IndexTechnical analysis

The Nasdaq 100 Index has likely formed a “double bottom” pattern which is bullish in nature. The model suggests that the index has found short-term support at around 13,000 and could be positioned for further gains. An immediate support level can be found at 13,430 (161.8% extension), while key resistance can be seen at 14,000 (200% Fibonacci extension). The MACD indicator is trending upward, suggesting that bullish momentum may be building.

Nasdaq 100 Index– Daily Graphic

Technical analysis of the Nikkei 225 index:

The Nikkei 225 index tries to cross the ceiling of the “Descending Channel” formed since early March. A successful attempt can open the door to further gains with an eye on 31,200 – major resistance. The MACD indicator has formed a bullish cross and trended higher, suggesting that downward momentum may wane.

Nikkei Index 225 – Daily Graphic

Chart by TradingView

Technical analysis of the ASX 200 index:

The ASX 200 index hit an all-time high on Friday after breaking a key resistance level of 7,194 – the 127.2% Fibonacci extension. an immediate resistance level can be found at 7,340 – the 161.8% Fibonacci extension. Prices have retreated slightly since then, but the overall trend remains bullish. The MACD indicator has formed a bullish cross and trended higher, suggesting that upward momentum is dominating.

ASX 200 Index – Daily chart

— Written by Margaret Yang, Strategist for DailyFX.com

To contact Margaret, use the Comments section below or @margaretyjy on Twitter