Obama grew up in Indonesia. Although a mostly Muslim country, it is a far more tolerant brand of Islam that we see in the Middle East. Indonesia has a large Hindu population; in fact, Bali, an island of Indonesia, is predominantly Hindu.
One of Obama's "good luck charms" he always carries with him sure appears to be an image of Hanuman. Google this: "obama hanuman" and judge for yourself. Arjuna's flag was marked with the image of Hanuman. Is this how Obama also attained victory?
Bottom line: he has been exposed to a wide variety of cultures. He also knows what it is like to be an underdog. He is likely to be far more tolerant of other religions than someone who clings to their vision as to how America should be (i.e., white, European and Christian).
About abortion:
Many Hindus think the Republicans are the ones to support, because they claim to oppose abortion. But do they, really? They have had a Republican President for 8 years, a conservative majority in the Supreme Court for most of that time, and a Republican majority in the Congress for much of that time.
But have they taken any action at all during this time to eliminate abortion? No. Why not? It is because they (the upper echelon of the Republican Party) rely on their outraged anti-abortion base of supporters to win elections.
If abortion were to be finally made illegal, they would lose a large part of their base. They would be left only with racists, gun nuts and hunters, millionaires and Bible-thumpers (who would ban any religion except their own) to be their core supporters. It is my opinion that the Republicans do not care about abortion, but use the issue to "fire up" their minions. As a recent example, witness the ranting of Sarah Palin.
Republicans are also opposed to anything that disrupts their "Norman Rockwell" worldview: anything other than Mom, church, the flag and apple pie is bad. "Vegetarianism, 'animal rights', 'idol worship', 'new fangled religions', 'dot-heads', 'environmentalism and ecology' are not welcome in America" could be their motto.
Conversely, the Democrats have always shown to have been far more supportive of other cultures, religions and ideas. Of inclusivism as opposed to exclusivism.
Conclusion: the election of Barack Obama is very "good news" to Hindus.