Trump's NYSE Bell-Ringing: A Symbolic Moment for U.S. Capitalism

On Thursday, President-elect Donald Trump will ring the opening bell at the New York Stock Exchange (NYSE), marking a significant moment in U.S. capitalism and a powerful symbol of American economic prowess. This ceremonial event, a first for Trump, comes as the U.S. stock market soars following his election victory, with the S&P 500 rallying 2.5% for its best day in nearly two years.

Trump's visit to the NYSE is a fitting venue for a president-elect who has often looked to the stock market to validate his economic policies. During his first term, Trump presided over rapid rises in stock prices, which he credited to his sweeping tax cut legislation. Polls show that voters this year favored Trump based on his pledges to expand the economy through deregulation and additional tax cuts.

The ringing of the bell is a powerful symbol of U.S. capitalism and a good New York photo opportunity. The NYSE regularly invites celebrities and business leaders to participate in the ceremonial opening and closing of trading. During Trump's first presidential term, his wife, Melania Trump, rang the bell to promote her "Be Best" initiative to combat childhood bullying.

Trump's plans for the NYSE visit were shared by people familiar with his schedule, who spoke on the condition of anonymity to discuss plans that were not yet public. A representative for Trump did not immediately respond to a request to comment.

The stock exchange has historically tended to rise regardless of which party wins the White House, with Democrats scoring bigger average gains since 1945. However, Republican control could mean big shifts in the winning and losing industries underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates, and lighter regulation that Trump favors will mean.

The ringing of the bell has been a tradition since the 1800s. The first guest to do it was a 10-year-old boy named Leonard Ross, in 1956, who won a quiz show answering questions about the stock market. Many times, companies listing on the exchange would ring the bell at 9:30 a.m. to commemorate their initial offerings as trading began. But the appearances have become an important marker of culture and politics -- something that Trump hopes to seize as he's promised historic levels of economic growth.



The anti-apartheid advocate and South African President Nelson Mandela rang the bell, as has Hollywood star Sylvester Stallone with his castmates from the film "The Expendables." So too have the actors Robert Downey Jr. and Jeremy Renner for an "Avengers" movie and the Olympians Michael Phelps and Natalie Coughlin.

In 1985, Ronald Reagan became the first sitting U.S. president to ring the bell. "With tax reform and budget control, our economy will be free to expand to its full potential, driving the bears back into permanent hibernation," Reagan said at the time. "We're going to turn the bull loose." The crowd of traders on the floor chanted, "Ronnie! Ronnie! Ronnie!" The Dow Jones Industrial average climbed in 1985 and 1986, but it suffered a decline in October 1987 in an event known as "Black Monday."

Trump's visit to the NYSE comes as investors cheer his plans to cut taxes and deregulate, with the S&P 500 rising since the election. However, the market run threatens to be tested by Trump's threats to impose sweeping tariffs on major trading partners. The U.S. stock market has historically tended to rise regardless of which party wins the White House, but Republican control could mean big shifts in the winning and losing industries underneath the surface.



In conclusion, Trump's NYSE bell-ringing event is a symbolic moment for U.S. capitalism and a powerful symbol of American economic prowess. As investors cheer his plans to cut taxes and deregulate, the market run threatens to be tested by Trump's threats to impose sweeping tariffs on major trading partners. The ringing of the bell is a tradition that has been a part of the NYSE since the 1800s and has been rung by various celebrities, business leaders, and even presidents. As Trump takes the stage to ring the bell, investors will be watching closely to see what the future holds for the U.S. economy under his leadership.