*By Carlo Versano*
Texas Democrats find themselves in an odd position two months before a major election: running a competitive statewide race.
Optimism that Rep. Beto O'Rourke could unseat Republican incumbent Ted Cruz in the Senate is palpable in Democratic circles, said Texas Monthly's politics editor Carlos Sanchez. The race is now a "toss up," according to [Real Clear Politics] (https://www.realclearpolitics.com/epolls/2018/senate/tx/texas_senate_cruz_vs_orourke-6310.html).
O'Rourke, who was elected to the U.S. House in 2013, has been surfing a wave of positive national press and an unorthodox, social-media-savvy campaign that found him traveling to all 254 counties of the deep red state and streaming his journey online.
All summer he's been gaining on Cruz who, compared to the charismatic O'Rourke, suffers from a "likability issue," Sanchez said. After all, Cruz's Republican colleague Lindsey Graham once famously [said](http://thehill.com/blogs/blog-briefing-room/news/313969-graham-to-cruz-i-want-to-apologize-to-ted-for-saying-he-should): "If you killed Ted Cruz on the floor of the Senate, and the trial was in the Senate, nobody would convict you."
Sanchez said that kind of sentiment may work in O'Rourke's favor: "The base for Cruz seems to be crumbling a bit."
But there are still challenges. While O'Rourke has out-raised Cruz by a wide margin, mostly from small-dollar donors, Cruz is better organized and allied with the powerful Koch network of donors. Sanchez said that "formidable" campaign infrastructure could pose a threat to the Democrat.
And the issue of Donald Trump looms large.
The president accepted an invitation to campaign for Cruz after Texas Lt. Gov. Dan Patrick [reportedly](https://www.politico.com/story/2018/09/09/ted-cruz-reelection-trump-813354) pleaded with him to throw his support behind Cruz, a man he incidentally referred to as "Lyin' Ted" on the campaign trail.
Though that may end up working against the incumbent, Sanchez said. O'Rourke, who is popular with young and minority Democrat voters, needs those blocs to turn out on Election Day. A fiery Donald Trump rally weeks before may compel them to do just that.
O'Rourke "is the national Democrat of Texas right now," Sanchez said.
For full interview [click here](https://cheddar.com/videos/republicans-go-into-crisis-mode-as-democrat-beto-orourke-closes-in-on-ted-cruz-in-texas-senate-race).
Rebecca Walser, President of Walser Wealth Management, joins Cheddar News' Closing Bell, where she discusses the factors behind Monday's surge on Wall Street and explains why investors will likely experience volatility in the market throughout the month of December.
Cheddar's Chloe Aiello joined "Closing Bell" to break down the progress of the SAFE Banking Act in Congress as cannabis businesses operators struggle to find financial institutions that will service them. Banks face steep federal penalties, including the risk of losing a bank charter, if found to be servicing marijuana businesses even if their state has legalized operations. Aiello reported that while there was some bipartisan support for the measure in the Senate, the bill faces some opposition from conservatives with "longstanding concerns" about cannabis and progressives who prefer a more comprehensive approach to reform.
Head of Instagram Adam Mosseri is slated to testify this week in front of the Senate Commerce Subcommittee after a Wall Street Journal report that found the Meta-owned social media platform is negatively impacting the mental wellness of teen girls.
Chinese regulators are reportedly behind China-based ride-hailing company DiDi exiting from the New York Stock Exchange, just days after listing earlier this year. The regulators stated prior that DiDi had not received the necessary clearances to list in the states. Gordon Chang, Asian affairs expert, joined Cheddar to break down what the delisting says about the relationship between nations. "This really strikes me as an attempt to really to force a decoupling of China and the U.S. in the financial markets," Chang said.
U.S. Futures were pointing to a higher open to round out the week despite a miss on the November Jobs Report, which showed slower job growth than expected-- and as the omicron variant continues to spread across the country. Patrick Healey, Founder & President at Caliber Financial Partners joined Cheddar's Opening Bell to discuss.
Just days after the detection of the Omicron variant, the World Health Organization has agreed to start the process of establishing a global pandemic treaty or accord. Amy Maxmen, senior reporter for Nature, and Dr. Samuel Scarpino, managing director for the Rockefeller Foundation's Pandemic Prevention Institute, joined Cheddar to discuss this effort and what lessons can be learned from the many COVID-19 failures as the world prepares for future pandemics.
It's a mixed bag for the November jobs report. Hiring slowed last month as employers only added 210,000 jobs, massively missing the estimate of 550,000. But there was one bright spot: the unemployment rate fell to 4.2%, with the number of unemployed people dropping to 6.9 million. Both of those numbers are considerably down from their highs at the end of the 2020 recession. Heather Boushey, a member of President Biden's Council of Economic Advisers, joined Cheddar to discuss the report and the state of the country's ongoing economic recovery.
