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US Mid-term Elections
The US midterm elections have historically marked bullish pivot points for the stock market, notwithstanding the outcome. Will this time be any different? And will this money chase Indian equities?
With their votes the American people have spoken and proven once again that democracy is who they are, US President Joe Biden said as his Democratic Party performed much better than expected and put a break on the opposition's red wave in the midterm polls across the country. Both the Republicans and the Democrats were at 48 seats each in the 100 member-US Senate, while in House of Representatives, the GOP (Republican Party) was ahead with 207 seats against 183 of the Democratic Party. The GOP is expected to cross the halfway mark of 218 but is falling far short of the expectations of sweeping the midterm elections and crossing at least 250 seats. Post elections, this is said to be the best performance by a current president in decades during midterm polls. Biden, at a White House news conference, appeared to be confident and asserted that he would continue with his policies, which, he said, have worked so far. While we don't know all the results yet, at least I don't know them all
The Republican National Committee has filed a lawsuit against tech giant Google, alleging the company has been suppressing its e mail solicitations ahead of November's mid-term elections. The lawsuit, filed in the District Court for the Eastern District of California on Friday evening, accuses Gmail of discriminating against the RNC by unfairly sending the group's e mails to users' spam folders, impacting both fund-raising and get-out-the-vote efforts in pivotal swing states. Enough is enough we are suing Google for their blatant bias against Republicans," said RNC Chairwoman Ronna McDaniel in a statement to The Associated Press. For ten months in a row, Google has sent crucial end-of-month Republican GOTV and fund-raising e mails to spam with zero explanation. We are committed to putting an end to this clear pattern of bias." Google did not immediately respond to a request for comment. The lawsuit focuses on how Google's Gmail, the world's largest e mail service with about 1.5 .
Ahead of the midterm elections early in November, two Indian American groups on Wednesday launched a voting campaign for their community. Indian Americans account for over one per cent of the country's population and have one of the highest per capita incomes among ethnic groups. While they are concentrated in some of the major states like New York, New Jersey, California, and Texas, their votes might turn out to be decisive in case of close races in the states of Florida, Atlanta, and Pennsylvania. The Foundation for India and Indian Diaspora Studies (FIIDS), a US-based non-profit institution for policy research and awareness, launched the #IndoAmericanVotesMatter campaign to increase the participation of American voters in the US 2022 elections. On this launch, Professor Ved Nanda, a distinguished law professor at Denver University and a FIIDS advisor said: As an immigrant minority, it is not only a civic duty, but it is also imperative for Indo-Americans to vote in the elections