President-elect Donald Trump is expected to ring the opening bell at the New York Stock Exchange on Thursday, December 12, 2024, the ceremonial start of the day’s trading, according to four people with knowledge of his plans, reports Reuters. 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.
Also, Trump is likely to be named Time’s ‘Person of the Year’ for the second time, after being given the title in 2016. On Thursday, TIME will announce the 2024 Person of the Year.
Several well-known personalities have already rung the bell. Nelson Mandela, an anti-apartheid advocate and South African President, rang the bell, as did Hollywood star Sylvester Stallone and his castmates from the film “The Expendables.” Ronald Reagan rang the bell as the first sitting president of the United States in 1985.
On September 23rd, 2019, the New York Stock Exchange welcomed the First Lady of the United States Melania Trump and fourth-grade students from the United Nations International School to promote Be Best, a public awareness campaign focusing on the well-being of our youth. To honor the occasion, the First Lady of the United States Melania Trump rang The Opening Bell.
The loud ringing of a bell to announce the start or end of the trading day is one of the most recognizable images of the NYSE. There is more to trading floor bells than just a vibrant custom. They ensure that no deals occur before the opening or after the close, which is essential to the marketplace’s orderly operation.
Bells were originally employed at the Exchange in the 1870s, with the introduction of continuous trade. Originally, a Chinese gong was used as the bell. However, when the Exchange relocated to its current location in 1903, the gong was replaced by a brass bell that was electrically powered and large enough to reverberate throughout the expansive main trading floor. Today, each of the NYSE’s four trading zones has its bell, which is controlled synchronously from a single panel.
G. S. Edwards Company of Norwalk, Connecticut are the manufacturer of the bells. Leonard Ross was the first guest to ring the opening bell, in 1956. The 10-year-old had won a televised quiz show by answering questions on the financial market.
Trump’s 2024 election victory boosted the U.S. stock market, showcasing American economic concerns and showcasing the power of U.S. capitalism.
On Wednesday, the Nasdaq surpassed the 20,000-point milestone for the first time following a US inflation report, boosting expectations of a Federal Reserve interest rate cut. Tesla shares climbed nearly 6% to a record high as the electric vehicle maker extended a rally in the wake of the U.S. presidential election. Nvidia and other megacap growth stocks, including Alphabet and Amazon, also finished higher, adding between 1.2% and 5.5%. Apple edged down 0.5%