① According to media reports, US President-designate Trump will go to the NYSE on Thursday to ring the opening bell and deliver a speech; ② There is news that Trump will be selected as the 2024 Person of the Year by “Time” magazine, but this news has not yet been confirmed by “Time”; ③ Since Trump announced his victory, the three major US stock indices have risen continuously, and the market is encouraged by promises of tax cuts and deregulation.
Financial Services Association, December 12 (Editor Malan) Since the 19th century, the US stock exchange has had a tradition of ringing the bell for the opening and closing of the market. Many companies will ring the bell during their initial public offering (IPO), but this ceremony has gradually become an important cultural and political symbol.
The first guest to ring the bell at the New York Stock Exchange was Leonard Ross, a 10-year-old boy from 1956. He was qualified for answering the right questions about the stock market in a question and answer show. The first US president to ring the bell on the NYSE was Reagan. At the time, the US stock market was in a bull market.
According to media reports, US President-designate Trump will also go to the NYSE this Thursday to ring the opening bell and deliver a speech at the opening ceremony of the day. This is certainly an excellent publicity opportunity for Trump, who has vowed to revitalize the US economy.
Meanwhile, sources revealed that Trump will also be selected as the 2024 Person of the Year by “Time” magazine. However, “Time” magazine refused to divulge any information before it was officially published, and candidates for this year's character include US Vice President Harris, billionaire Musk, Israeli Prime Minister Binyamin Netanyahu, and British Princess Kate of Wales.
Double happiness on the doorstep?
The NYSE regularly invites celebrities or industry leaders to attend its opening and closing ceremonies. During Trump's first term, his wife Melania rang the NYSE bell to promote her Be Best initiative for children's welfare.
Trump is also allegedly ringing the bell to celebrate receiving the “Time” Person of the Year award. Last year, Jessica Sibley, CEO of “Time” magazine, rang the NYSE bell, and the person of the year was famous American singer Taylor Swift.
However, Trump himself apparently ringing the bell on the NYSE also has a deeper political meaning. It will deepen the market's impression that he is strongly connected to the US stock market and continue to boost optimistic confidence in US stocks to a certain extent.
Since the election, all three major US stock indices have continued to rise at high levels and have all hit new highs in recent weeks. Among them, Trump's promises of tax cuts and deregulation are important reasons for the positive sentiment. But at the same time, many investors are also worried that Trump's threat of high tariffs will put pressure on the rise of US stocks.
However, at the end of 2024, Wall Street and investors seem more willing to believe that Trump will bring more benefits to US stocks. In recent weeks, many banks and financial institutions in the US have raised their expectations for the US stock index. The most optimistic say the S&P 500 index is expected to reach 7,100 points by the end of next year, up another 17% from now.