NEW YORK (AP) — President-elect Donald Trump is expected to ring the opening bell at the New York Stock Exchange on Thursday, the ceremonial start of the day’s trading, according to four people with knowledge of his plans.
It will be a notable moment of recognition for Trump, a born-and-bred New Yorker who gave up living full time in his namesake Trump Tower in Manhattan and moved to Florida. The U.S. stock market soared after Trump won the 2024 election in part by seizing on Americans’ worries over the economy.
The ringing of the bell is a powerful symbol of U.S. capitalism — and a good New York photo opportunity at that. Despite his decades as a New York businessman, Trump has never done it before.
The people who confirmed the bell-ringing were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity. It was not clear whether Trump, a Republican, would meet with New York’s embattled mayor, Democrat Eric Adams, who has warmed to Trump and has not ruled out changing his political party.
The stock exchange 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 promote children’s well-being.
After the Nov. 5 election, the S&P 500 rallied 2.5% for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6%, while the Nasdaq composite jumped 3%. All three indexes topped records they had set in recent weeks.
Trump has long courted the business community based on his own status as a wealthy real estate developer who gained additional fame as the star of the TV show “The Apprentice” in which competitors tried to impress him with their business skills.
The larger business community has applauded his promises to hold down corporate taxes and cut regulations. But there are also concerns about his stated plans to impose broad tariffs and possibly target companies that he sees as not aligning with his own political interests.
The Republican spends the bulk of his time at his Florida home, but was in New York for weeks this spring during his hush money trial there.
He was convicted, but his lawyers are pushing for the case to be thrown out in light of his election.
While he spent hours in a Manhattan courthouse every day during his criminal trial, Trump took his presidential campaign to the streets of the heavily Democratic city, holding a rally in the Bronx and popping up at settings for working-=class New Yorkers: a bodega, a construction site and a firehouse.
