(Bloomberg) -- Donald Trump is slated to ring the New York Stock Exchange’s opening bell on Thursday, presenting a president-elect who has vowed to rejuvenate the US economy a celebratory photo opportunity at an iconic symbol of American capitalism.
Trump’s plans for the NYSE visit were shared by people familiar with his schedule, who spoke on the condition of anonymity to discuss plans that were not yet public. A representative for Trump did not immediately respond to a request to comment.
The NYSE’s trading floor is a fitting venue for a president-elect who has often looked to the stock market to validate his economic policies. Trump during his first term presided over rapid rises in stock prices, which he credited to his sweeping tax cut legislation.
Polls show that voters this year favored Trump based on his pledges to expand the economy through deregulation and additional tax cuts.
Even though markets continued to perform well under President Joe Biden, Trump frequently claimed on the campaign trail that those gains were because traders believed that the Republican would return to the White House.
Investors have seen the S&P 500 rise since the election as they cheer the president-elect’s plans to cut taxes and deregulate. Still the market run threatens to be tested by Trump’s threats to impose sweeping tariffs on major trading partners.
The stock exchange regularly invites celebrities and corporate leaders to participate in the ceremonial opening of trading, particularly to mark anniversaries and initial public offerings. During Trump’s first presidential term, his wife, then-first lady Melania Trump, rang the bell to promote her “Be Best” initiative to combat childhood bullying.
The tradition dates back to 1956, when Leonard Ross, a 10-year-old television quiz show winner was invited to ring the bell after correctly answering questions about the stock market, according to the NYSE.
Trump has spent much of his time since winning the election at his Mar-a-Lago resort in Palm Beach, where he’s been moving quickly to nominate and appoint figures for his new administration and meet with foreign leaders.
The president-elect is already looking to make his imprint on policy, including threats of tariffs on China, Mexico and Canada, unless they crack down on the flow of illegal drugs and undocumented migrants into the US. On Tuesday, he also offered to expedite permits for companies that invest at least $1 billion in the US.
--With assistance from Stephanie Lai and Nancy Cook.
(Updates with additional background in the final two paragraphs)
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