Source: Golden Ten Data

Trump rang the opening bell of the New York Stock Exchange on Thursday, a celebratory moment for the president-elect who has returned to action in this election The White House, and the U.S. economy took center stage in this election.

Trump used the occasion to promise a new round of tax cuts, a key priority for many donors and business leaders gathered on the New York Stock Exchange trading floor.

Trump has vowed to cut the corporate tax rate from 21% to 15% and said he is talking with advisers about cutting taxes on capital gains and dividends, changes that would be welcomed by investors and could stimulate The market goes up.

"I really want to get the tax rate down to 15%, and we can do it," Trump said of the corporate tax rate in an interview with CNBC after the bell. "We will cut taxes further."

Trump also promised to "do something big in the cryptocurrency field." He promised to cut federal rules and began appointing regulators, including Paul Atkins to the Securities and Exchange Commission, who were seen as friendly to the digital asset industry.

Thursday’s event also marked Trump’s being named “Person of the Year” by Time magazine. The magazine bestowed the title on the incoming president in recognition of his stunning comeback in November's election, which saw him win a second term and give Republicans control of both houses of Congress.

Joining Trump at the meeting were many of his most prominent Cabinet nominees, including Treasury pick Scott Bessent, founder of Key Square Group LP; Cantor Fitzgerald LP CEO Howard Lutnick, Commerce Department candidate; Health Secretary Robert F. Kennedy Jr.; Interior Department candidate, North Dakota Governor Doug Burgum (Doug Burgum); Small Business Administration candidate Kelly Loeffler; and Vice President-elect JD Vance, etc.

Trump appeared on the trading floor to applause and chants of "USA!" He stood next to Jeffrey Sprecher, chief executive of Intercontinental Exchange Inc., and rang the bell.

Before getting started, Trump spoke at a networking event, taking the opportunity to promote the populist economic agenda he campaigned on. He said his would bring jobs and praised the cabinet picks who attended the event with him.

"I believe the economy is going to be very strong," Trump said.

Thursday's event was held at the iconic center of American capitalism, rich in symbolism for a leader who often uses the stock market as a measure of his economic success.

Trump told CNBC: "I think I have always said that, to me, the stock market is everything."

Trump proposed a comprehensive plan during the campaign and a populist agenda that has won him support from Wall Street and business leaders. Polls show voters favoring Trump this year based on his promise to expand the economy.

Even as markets performed well during the Biden administration, Trump often claimed on the campaign trail that those gains were because traders believed the Republican would return to the White House.

Since the election, investors have cheered the president-elect's tax cuts and deregulation plans, and the S&P 500 has risen in response. However, market operations are still likely to be tested by Trump's tariff threats against major trading partners.

Trump has proposed a wide range of new tariffs targeting allies and rivals alike, which mainstream economists warn could raise prices for U.S. households and businesses and reduce global trade flows.

His promise of mass deportations of undocumented immigrants has also worried some business leaders.

After ringing the opening bell, Trump stopped short of telling investors to buy more stocks as he was about to take office. "I don't want to be in a situation where they buy and we have a decline or something because of that situation," he said on CNBC's Jim Cramer's "Squawk on Street" show It's always possible."

Trump repeatedly used the stock market as a barometer of his performance during his first term. During that time, the S&P 500 gained nearly 68%, hitting a record high.

Wall Street CEOs and investors such as Goldman Sachs Group Inc.’s David Solomon and Pershing Square Inc.’s Bill Ackman also came to the New York Stock Exchange Participate in Trump’s bell-ringing ceremony.

Ackerman later told CNBC: "Most people across the country understand that the more successful a company is, the more the stock market rises, the higher their wages will be, the more job growth will be, the more opportunities will come. The more businesses that get there, it lifts all sails.”

While Trump isn’t telling investors to buy stocks now, he remains bullish on the long-term outlook. "I think in the long run it's going to be a unique one. We had the best three years we've ever had before COVID came," he said after being named Time magazine's Person of the Year.