Since the 19th century, stock exchanges in the United States have had a tradition of ringing the bell for opening and closing. Many companies ring the bell during their initial public offering (IPO), but this ceremony has gradually become a cultural and political symbol.
The first guest to ring the bell at the New York Stock Exchange in the United States was a 10-year-old boy named Leonard Ross in 1956, who qualified for the job by answering questions related to the stock market correctly on a Q&A program. The first US president to ring the bell on the New York Stock Exchange was Reagan, during a bull market in the US stock market at that time.
According to media reports, US President elect Trump will also go to the New York Stock Exchange this Thursday to ring the opening bell and deliver a speech for the opening ceremony of the day's trading. This is undoubtedly an excellent promotional opportunity for Trump, who has vowed to revitalize the US economy.
Meanwhile, sources have revealed that Trump will also be selected as the 2024 Person of the Year by Time magazine. But Time magazine refused to disclose any information before its official publication, and this year's candidates for the role include US Vice President Harris, billionaire Elon Musk, Israeli Prime Minister Netanyahu, and British Princess Kate of Wales.
Double happiness at the door?
The New York Stock Exchange regularly invites celebrities or industry leaders to attend its opening and closing ceremonies. During Trump's first term, his wife Melania rang the bell for the exchange to promote her Be Best initiative for children's well-being.
And Trump's bell ringing is reportedly also to celebrate his award for Time's Person of the Year. Last year, Jessica Sibley, CEO of Time magazine, rang the bell of the New York Stock Exchange, and the Person of the Year for that year was the renowned American singer Taylor Swift.
However, Trump himself ringing the bell on the New York Stock Exchange clearly has deeper political implications, which will deepen the market's impression of his strong connection with the US stock market and to some extent continue to boost optimistic confidence in the US stock market.
Since the election, the three major US stock indices have continued to rise at high levels and have all reached new highs in recent weeks, with Trump's promises of tax cuts and regulatory easing being important reasons for the positive sentiment. However, at the same time, many investors are also concerned that Trump's threat of high tariffs will put pressure on the rise of the US stock market.
However, by the end of 2024, both Wall Street and investors seem more willing to believe that Trump will bring more positive news to the US stock market. In recent weeks, several banks and financial institutions in the United States have raised their expectations for the US stock index, with the most optimistic saying that the S&P 500 index is expected to rise to 7100 points by the end of next year, an additional 17% increase from the current level.