back The New York Stock Exchange rings the opening bell Thursday, President-elect Donald Trump As he takes office, he’s not telling investors to buy more stocks.
“I don’t want to get into a situation where they do it and we’re in trouble, because that could always happen,” Trump told CNBC. Jim Cramer period”quack in the street”.
Trump repeatedly used the stock market as a barometer of performance during his first term. At that time, S&P 500 Index The scale expanded by nearly 68%, reaching a record high. This was partly due to the corporate tax cuts the government passed at the time. The Federal Reserve also kept interest rates near record lows at the time in an attempt to spur inflation — and boost stock prices.
President-elect Donald Trump is greeted by traders on the trading floor of the New York Stock Exchange on Thursday, December 12, 2024, in New York.
Alex Brandon | Associated Press
He touted the possibility of another tax cut on the exchange Thursday. “We’re going to do something that’s never really been done before. We’re going to cut taxes further,” he said. “If you don’t make it here, you pay 21 percent. If you do, we’ll try to raise it to 15 percent, but you have to make your product in the United States.”
Wall Street executives and investors including Goldman Sachs’ David Solomon and Pershing Square’s Bill Ackman came to the New York Stock Exchange to attend Trump’s bell-ringing ceremony. Ackman later told CNBC, “Most people in this country understand that the more successful companies are, the more the stock market goes up, the more their wages go up, the more job growth there is, the more opportunities there are for companies coming to this country. The more.
To be sure, while Trump isn’t telling investors to buy stocks now, he remains optimistic about the long-term outlook.
“I think in the long run this is going to be a different country. Before COVID came, we had had the best three years ever,” he said after being named Time magazine’s “Person of the Year.” Said later.
——Reported by Li Yun
