According to sources cited by the Associated Press, President-elect Trump will attend the stock market opening ceremony at the New York Stock Exchange on Thursday, December 12. If it goes ahead, this will be Trump’s first time ringing the opening bell for the Wall Street stock market.
Ringing the opening bell at the New York Stock Exchange is considered one of the most significant symbols of success in this city.
The exchange regularly invites celebrities and business leaders to participate in the opening and closing ceremonies. During Trump’s first presidential term, his wife Melania Trump rang the opening bell to promote her “Be Best” initiative, aimed at promoting child welfare.
Following Trump’s re-election, the stock market saw a significant surge. The S&P 500 index rose by 2.5%, marking its best single-day performance in nearly two years; the Dow Jones Industrial Average soared by 1,508 points, a 3.6% increase; and the Nasdaq Composite index jumped by 3%. All three indices set new recent records.
Newly listed companies often ring the bell at the opening of trading to commemorate their initial public offering (IPO). However, this event has now become a significant symbol of culture and politics – Trump may hope to convey his commitment to rapid economic growth through this.
Trump is a native New Yorker and a very successful businessman. Transitioning from business to politics, he miraculously survived two assassination attempts during this presidential election. In his victory speech, he stated that God saved his life for the purpose of “saving our country and restoring American greatness. Now, together, we will fulfill this mission.”
In 1985, Ronald Reagan became the first sitting U.S. president to ring the opening bell. At that time, he said, “Through tax reform and budget control, our economy will freely expand, fully realize potential, and drive the bear market into permanent hibernation. We will unleash the power of the bull market.”