Trump Links Presidency to Stock Market Opening Bell Ceremony

Donald Trump rang the opening bells for the New York Stock Exchange and Nasdaq from the Oval Office. This gesture symbolizes his effort to connect his presidency with the stock market. As inflation impacts his popularity, Trump shifts focus to retirement investments, notably 401(k) accounts. He attributes the market’s gains to his policies as the midterm elections approach in November.

“The market will soar,” declared Trump after initiating the trading day. The AP-NORC Center for Public Affairs Research survey in June showed only 33% of U.S. adults approve of Trump’s economic leadership. Despite the low approval, the emphasis on the stock market may not significantly aid his party in the upcoming elections. The Oval Office event promoted the launch of Trump Accounts, designed to provide children with stock index investments, as part of a broader Republican tax and spending bill for 2025.

Treasury Secretary Scott Bessent highlighted that many Americans lack direct stock exposure. This leaves millions without benefits that wealthier households enjoy, with potential gains only realized at retirement. Before the bell, Bessent remarked, “38% of U.S. families have no exposure to our large equity markets.” The S&P 500 has seen a 17.9% gain in 2025, following annual increases of 25% in 2024 and 26.3% in 2023, during Joe Biden’s presidency. The benchmark index is up approximately 10% so far this year.

Similar to how inflation eroded Biden’s public support, Trump also faced declining approval due to rising prices. He won the 2024 election with promises to cut costs, but tariffs and the Iran war added new inflation pressures. The consumer price index has risen 4.2% over the past 12 months, compared to 3% at the start of Trump’s second term in January 2025.

Trump believes that government-promoted stock investments and support from prominent businesses and billionaires will deepen future generations’ participation in the U.S. economy. The accounts received funding from billionaires and a $1,000 government contribution. Michael Dell of Dell Technologies and his wife Susan pledged $6.25 billion, while other billionaires like investor Ray Dalio and SpaceX President Gwynne Shotwell promised contributions, with Shotwell offering SpaceX shares. Trump jokingly admitted that children missed market gains due to the delayed Trump Accounts rollout. “We should have acted sooner,” Trump remarked.