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US midterms: Polls show Democrats ahead in battle for Congress

Democrats lead Republicans in national polling ahead of Tuesday's United States midterm elections, with new surveys showing the party gaining ground in several closely contested Senate races as voters express dissatisfaction with President Donald Trump's handling of the economy. With all 435 House of Representatives seats and 35 Senate seats on the ballot, the elections will determine whether Republicans retain control of Congress for the remaining two years of Trump's second term. A RealClearPolling average of surveys conducted through October 30 shows Democrats leading Republicans 52% to 43.1% on the generic congressional ballot, an 8.9-percentage-point advantage. An NBC News survey conducted October 28-30 found Democrats ahead 52% to 45%, while an Emerson College poll conducted October 24-26 put the gap at 10 points. The generic ballot measures nationwide preferences for congressional candidates rather than support in individual districts, meaning a nati...
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Tech market values fall on AI costs and recession fears

Market values of major technology companies declined significantly in August, driven by mounting concerns over the rising costs associated with artificial intelligence infrastructure and fears of an impending recession. The combined effect of these factors has heightened vulnerabilities for tech stocks, particularly as investors brace for potential market corrections. Alphabet Inc. saw a 4.7% decrease in its market value last month. This decline was largely attributed to a slowdown in YouTube's advertising revenue, which raised doubts about the company's future earnings. Additionally, a recent US judge's ruling found Google in violation of antitrust laws, further compounded by increasing competition from OpenAI, which is advancing an AI-based search engine prototype. In the automotive sector, Tesla faced challenges as it began exporting Shanghai-made electric vehicles to Canada. Concerns have arisen regarding the impact of this shift on profits, especially given the higher costs associated with the company's US production facilities. Nvidia, a leading player in the AI chip market, experienced a notable 7.7% drop in market value in the final week of August, bringing its valuation to $2.92 trillion. The company reported third-quarter gross margins below market estimates and revenues that only met expectations, which fell short of investor hopes for a stronger performance. Despite commanding over 80% of the AI chip market, Nvidia's struggles highlight the delicate balance it faces between being a key enabler and beneficiary of AI advancements. On a more positive note, US drugmaker Eli Lilly saw its market value surge nearly 20% in August. The increase was driven by strong sales and the successful launch of a new weight-loss drug, which significantly reduces the risk of type 2 diabetes in overweight adults. Berkshire Hathaway also marked a milestone by closing above $1 trillion in market value at the end of August. This achievement reflects investor confidence in the conglomerate, which has been built by Warren Buffett over nearly six decades and is seen as a barometer for the US economy.

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