Trump rings the bell at the New York Stock Exchange
President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday, immediately after being nominated. time Magazine's Man of the Year.
“This is an honor and a great honor,” President Trump said. “Normally they don't link player of the year or person of the year to the ringing of the bell. What's great is that you picked both at the same time.”
During his first term, Trump talked a lot about stock market gains. As if it were a testament to his leadership and the policies of his administration. There are obvious dangers in a president treating the stock market as a measure of his success, but President Trump's respect for the stock market is shared by his fellow Americans.
President-elect Donald Trump speaks at Time magazine's “Person of the Year” event at the New York Stock Exchange on Thursday, Dec. 12, 2024, in New York. (AP Photo/Alex Brandon)
The latest research by YouGov shows that economist We asked the question, “How important is the question of what happens in the stock market to you?” 62 percent of Americans The stock market is said to be somewhat important (40 percent) or very important (22 percent). Therefore, although it is often pointed out that the stock market is not the same as the economy, most Americans believe that what happens in the stock market is important not only in a general sense but also personally. Masu.
black american They are slightly more likely than white Americans to think the stock market is important. According to the survey, 25 percent of Black Americans say it is very important and 40 percent say it is somewhat important, for a total of 65 percent. Among white Americans, 22% say it is very important and 40% say it is somewhat important.
hispanic Slightly fewer respondents say the stock market is important, with 22 percent saying it is very important and 38 percent saying it is somewhat important.
These numbers make it clear that a huge majority of Americans, regardless of race or ethnicity, think the stock market is important. they are Share President Trump's interest in market trends. Only 15% of Americans say it doesn't matter what happens in the stock market.
The stock market is a populist issue
Perhaps surprisingly, the belief that what happens in the stock market matters. Not limited to the wealthy or middle class. 49% of Americans with incomes under $50,000 say the stock market is very or somewhat important to them. That's higher than the percentage of Americans with that level of income who own stocks or mutual funds. Only 21% of this group said it doesn't matter to them what happens to the stock market.
For Americans with incomes between $50,000 and $100,000, 65% rate the stock market as very or somewhat important. Only 11% said it was not important. Among those earning more than $100,000, 34% said it was very important and 47% said it was somewhat important. 5% rate the stock market as not personally important.
One point here is that President Trump is paying attention to the stock market. has not broken away from his populist politics. It is a reflection of his populism. While establishment politicians tend to follow the unspoken rule of not explicitly touting market gains, the populist Mr. Trump aligns himself with a supermajority of Americans and uses markets as a measure of success. It shows an attitude of positive acceptance.
Stock prices were very strong during the Trump era, and they are doing very well this time as well.
Of course, when the stock market is doing really well, it's easier to use the stock market as a measure of presidential inauguration. The US stock market experienced significant growth during President Trump's first term. of S&P 500 index rose about 67%reflects investors' confidence in the administration's economic policies, including efforts to cut taxes and deregulate. This was higher than the 15% rise in the first two months after the 2016 election.
President-elect Donald Trump rings the opening bell on the trading floor of the New York Stock Exchange (NYSE) on December 12, 2024 in New York City. (Spencer Pratt/Getty Images)
even better than that Stock market performance under President Joe Biden. Since Biden took office on January 20, 2021, the S&P 500 index has risen about 52.8%. At this point in Trump's presidency, the market was up 61%.
Since Election Day, the S&P 500 index is up about 5.5%, and the small-cap Russell 2000 index is up more than 10%. That is, it could be President Trump plans to continue touting stock market gainsand Americans will continue to feel good about the election's impact on the stock market.
