President-elect Donald Trump is preparing to ring the opening bell at the New York Stock Exchange (NYSE), marking the ceremonial start of the trading day. According to individuals familiar with the matter, this symbolic event comes at a pivotal moment as markets assess the implications of his 2024 election victory.
The event is expected to be a significant moment for Trump, a native New Yorker who has spent much of his life in Manhattan before relocating to Florida. His return to the city for this occasion underscores his connection to the financial world and his enduring association with Wall Street. Historically, the stock market has surged during key moments in Trump’s political career, and his recent election win has sparked renewed market optimism about potential economic policies under his leadership.
The NYSE bell-ringing ceremony, a tradition steeped in history, is a powerful symbol of market capitalism and often doubles as a prime photo opportunity. According to NYSE records, Trump has never rung the bell himself before, making this appearance particularly notable.
Trump’s limited return to New York
Since facing legal challenges earlier this year, Trump has largely stayed away from New York. His legal team continues to push for the dismissal of certain cases against him, citing his recent election win as a factor. Despite his return to the city for the NYSE event, it remains unclear whether Trump will meet with New York City Mayor Eric Adams, a Democrat, during his visit.
The individuals confirming Trump’s planned appearance at the NYSE spoke to The Associated Press on condition of anonymity, as they were not authorized to discuss the matter publicly.
The stock exchange frequently invites prominent individuals, including celebrities and business leaders, to participate in the ceremonial ringing of the opening or closing bell. During Trump’s first term as president, his wife, Melania Trump, participated in the tradition to promote her “Be Best” initiative, which focused on children’s well-being.
Post-election market rally
Trump’s 2024 election victory has already had a noticeable impact on the financial markets. On November 5, following the announcement of his win, the S&P 500 recorded its best day in nearly two years, gaining 2.5%. Meanwhile, the Dow Jones Industrial Average soared by 1,508 points, or 3.6%, and the Nasdaq composite climbed 3%. This rally continued a trend of record-setting performances across all three major indices in the weeks following the election.
Historically, the U.S. stock market has tended to rise regardless of which political party wins the presidency, although data since 1945 shows that Democratic administrations have typically seen larger overall gains. However, Republican control often signals significant changes for specific industries, with investors betting on policies favoring tax cuts, deregulation, and pro-business measures—hallmarks of Trump’s economic agenda.
Trump’s return to the NYSE also serves as an opportunity to align himself with the optimistic market sentiment and reinforce his campaign promises of economic growth and prosperity.
A tradition rooted in history
The NYSE bell-ringing tradition dates back to the 19th century and has evolved into a cultural and political milestone. Historically, companies going public would ring the bell at the start of trading to commemorate their initial public offerings (IPOs). Over time, the event has grown in significance, attracting high-profile figures from various industries.
In 1956, the first person invited to ring the bell was Leonard Ross, a 10-year-old who won a stock market trivia contest. Since then, the bell-ringing ceremony has hosted a diverse array of participants, from corporate executives to celebrities and world leaders.
Notable figures to ring the NYSE bell include Nelson Mandela, the anti-apartheid activist and former president of South Africa, as well as actors Robert Downey Jr. and Jeremy Renner, who participated in the ceremony to promote an “Avengers” movie. Other participants include Olympians Michael Phelps and Natalie Coughlin, as well as Hollywood star Sylvester Stallone alongside his castmates from “The Expendables.”
In 1985, President Ronald Reagan became the first sitting U.S. president to ring the opening bell. At the time, Reagan used the occasion to promote his administration’s approach to economic policy.
“With tax reform and budgetary discipline, we will unleash the full potential of our economy, putting bear markets into permanent hibernation,” Reagan declared, addressing a cheering crowd on the trading floor. Traders responded enthusiastically, chanting, “Ronnie! Ronnie! Ronnie!”
The Dow Jones Industrial Average performed strongly during Reagan’s presidency in 1985 and 1986, though the optimism was tempered by the infamous “Black Monday” stock market crash in October 1987.
Trump’s economic message
Trump’s participation in the NYSE bell-ringing ceremony is expected to highlight his economic vision for his second term in office. His campaign promises of historic economic growth resonate with the symbolism of the stock exchange, where market performance is closely tied to public confidence in the administration’s policies.
While the event marks a ceremonial moment, it also provides Trump with an opportunity to signal his administration’s priorities to investors and the broader public. With markets riding high on post-election optimism, the bell-ringing event is poised to further cement Trump’s association with economic leadership and financial prosperity.
As Trump prepares to step back into the spotlight at the NYSE, the moment will serve as both a celebration of market optimism and a reminder of the economic stakes ahead. Whether his policies will continue to drive the record-breaking momentum seen in recent weeks remains to be seen, but the event underscores the powerful connection between politics and the financial markets.
