Trump will ring the opening bell at the New York Stock Exchange on Thursday, providing the elected president, who vowed to revitalize the American economy, an opportunity for a photo op in front of a landmark building of American capital. This will be his first participation in this iconic ceremony. On the same day, Time magazine will announce Trump as the 2024 Person of the Year. Both honors celebrate Trump's influence as a businessman and political leader.
Sources familiar with Trump's schedule revealed plans for Trump's visit to the New York Stock Exchange. Trump's representatives did not immediately respond to requests for comment.
The trading floor of the New York Stock Exchange is an ideal venue for the elected president, who often validates his economic policies through the stock market. Trump drove a rapid rise in stock prices during his first term and credited it to his comprehensive tax cut legislation.
Polls show that this year voters favor Trump because he has promised to expand the economy through deregulation and further tax cuts. The NYSE has historically been a platform for celebrating market milestones, and Trump's visit underscores his tendency to measure the success of his economic policies by the stock market.
Although the market continues to perform well under Biden's leadership, Trump has frequently claimed during his campaign that these gains are because traders believe Republicans will return to the White House.
Since the election, investors have seen the S&P 500 index rise as they cheer the elected president's plans for tax cuts and deregulation. However, Trump's threat to impose comprehensive tariffs on major trading partners poses a test for the market's performance.
The New York Stock Exchange often invites celebrities and business leaders to participate in the opening ceremony, especially during anniversaries and initial public offerings. During Trump's first presidential term, his wife, then-First Lady Melania Trump, rang the opening bell to promote her 'Be Best' initiative aimed at combating bullying among children.
According to the New York Stock Exchange, this tradition dates back to 1956 when 10-year-old quiz show champion Leonard Ross was invited to ring the bell after correctly answering a question about the stock market.
Since winning the election, Trump has spent most of his time at his Mar-a-Lago estate in Palm Beach, where he quickly nominated and appointed new government members and met with foreign leaders.
The elected president has been seeking to make his mark on policy, including threatening to impose tariffs on China, Mexico, and Canada unless these countries crack down on the flow of illegal drugs and undocumented immigrants into the United States.
On Tuesday, Trump also proposed to expedite the issuance of permits to companies investing at least $1 billion in the United States.
Article reposted from: Jinshi Data