Six months ago, Donald Trump made history as the first former U.S. president convicted of a crime, standing in a courtroom in lower Manhattan. Today, just blocks away from that courthouse, Trump is set to ring the opening bell at the New York Stock Exchange (NYSE), a symbolic moment underscoring his resilience and political comeback. Adding to the significance of the occasion, Time magazine has named him its 2024 Person of the Year.
The honors highlight Trump’s complex relationship with New York, a city where he rose to prominence yet faced ostracism during his political career. They also reflect his transition from a polarizing former president who contested his election loss four years ago to a victorious president-elect who decisively reclaimed the White House in November.
Sam Jacobs, Time’s editor-in-chief, made the announcement on NBC’s Today show, emphasizing Trump’s unparalleled influence over the news cycle. “For better or for worse, [Trump] had the most influence on the news in 2024,” Jacobs said.
According to insiders familiar with his plans, Trump is expected to be present on Wall Street to officially open the trading day. These individuals, speaking anonymously to The Associated Press, confirmed that Trump’s appearance will mark his debut in this ceremonial role. While the NYSE often invites celebrities and business leaders to ring the bell, this occasion takes on special significance, blending culture, politics, and business.
Trump’s relationship with Time magazine is long-standing and occasionally contentious. First named Time’s Person of the Year in 2016 after his initial presidential victory, he appeared as a finalist this year alongside prominent figures like Vice President Kamala Harris, Israeli Prime Minister Benjamin Netanyahu, entrepreneur Elon Musk, and Kate, the Princess of Wales. Trump’s fascination with Time has been well-documented; he appeared on its cover as early as 1989 and has falsely claimed to hold the record for the most cover appearances. A 2017 Washington Post investigation even revealed that Trump displayed a fake Time cover featuring himself in several of his golf clubs.
Thursday’s event aligns Trump with a tradition of high-profile figures participating in the NYSE’s 9:30 a.m. ceremonial opening. Last year, Time CEO Jessica Sibley rang the bell to unveil Taylor Swift as the 2023 Person of the Year. During Trump’s presidency, his wife, Melania Trump, also participated, ringing the bell to promote her “Be Best” campaign focused on children’s well-being.
Trump’s current visit to New York, his former home city, is part of a broader pattern of appearances this year. Despite relocating to Florida, he has maintained a visible presence in New York, often blending legal obligations with strategic photo opportunities. Beyond required court appearances in Manhattan, Trump has made campaign stops at various city locations, including a firehouse, a bodega, and a construction site. A rally held in the Bronx was part of his outreach to voters in areas where he gained unexpected traction during the election.
Not all of his New York events have been without controversy. Trump capped off his campaign with a high-energy rally at Madison Square Garden. While the event aimed to energize his supporters, it faced backlash due to inflammatory remarks made by some speakers.
Trump’s journey to national prominence has always been intertwined with his image as a New York real estate mogul. His role on the reality TV show The Apprentice further cemented his reputation as a savvy businessman, a persona he leveraged during his presidential campaigns. Economic issues, particularly concerns about the middle class, played a central role in his recent victory.
The financial markets responded favorably to Trump’s electoral win. On November 5, the S&P 500 saw its best day in nearly two years, climbing 2.5%. The Dow Jones Industrial Average surged by 1,508 points, or 3.6%, while the Nasdaq composite rose 3%, with all three indexes breaking previous records. Trump, who often views stock market performance as a barometer of his popularity, suggested that his next term as president should officially begin the day after the election to credit him with these gains.
Trump’s economic agenda includes ambitious promises of historic growth, aligning with his business-focused approach to governance. His appointments for key administration roles predominantly feature individuals from the private sector, signaling a pro-business direction.
The business community has largely welcomed Trump’s plans to reduce corporate taxes and streamline regulations. However, his proposals to impose tariffs and target companies he perceives as politically adversarial have raised concerns. Broadly, Trump’s policies could have a mixed impact, with certain industries thriving under reduced taxes and deregulation while others face challenges from protectionist measures.
Historically, U.S. stock markets have tended to rise regardless of which political party controls the White House. Since 1945, however, markets have experienced slightly larger average gains under Democratic leadership. Despite this trend, Trump’s return to power has already begun shaping investor expectations. Market participants are closely watching the potential effects of his policies, including higher tariffs, lower tax rates, and deregulation.
In addition to his market impact, Trump is pursuing legal avenues to overturn his Manhattan conviction, a case that has loomed over his political resurgence. His legal team is actively working to have the verdict dismissed, arguing that his electoral victory underscores a mandate from the public.
As Trump rings the NYSE bell, his dual role as a businessman and political figure remains at the forefront. For Trump, the moment symbolizes both a personal and professional triumph, cementing his comeback in the heart of the financial world while affirming his broader influence on the national stage.
