President Trump Rings Opening Bells, Ties Presidency to Stock Market

President Donald Trump conducted a symbolic act from the Oval Office, ringing the opening bells for the New York Stock Exchange and Nasdaq. This gesture highlights his effort to link his presidency with stock market performance.

As inflation affects his popularity, Trump encourages Americans to focus on retirement investments such as 401(k) accounts. He claims credit for any gains stemming from his policies, especially as the midterm elections approach.

Trump asserted, “The market will surge.” However, only 33% of American adults approve of his economic leadership according to a June survey by the AP-NORC Center for Public Affairs Research. Despite this, Trump hopes that emphasizing stock market success will benefit his party during autumn elections.

The Oval Office event also promoted the launch of Trump Accounts. These are designed to allow children to invest in stock indices, part of a larger tax and spending bill set for 2025. Treasury Secretary Scott Bessent emphasized that many Americans lack direct exposure to stocks. This lack prevents millions from benefiting, with gains appearing only in future retirements decades away.

Bessent stated before ringing the bell, “38% of American families have no exposure to our major equity markets.”

The S&P 500 saw a 17.9% rise in 2025, following annual returns of 25% in 2024 and 26.3% in 2023 under President Joe Biden. This year, the benchmark index increased by roughly 10%. Yet, inflation reduced support for Biden and similarly affected Trump, with his approval ratings dropping amid rising prices.

Trump hoped to reduce costs when elected in 2024, but tariffs and the onset of conflict in Iran increased inflationary pressures. The consumer price index rose 4.2% over the past year, up from 3% at the start of his second term in January 2025.

Regardless, Trump bets that government-pushed market investments will deepen future generations’ involvement in the U.S. economy. Billionaires and companies boost the accounts alongside the $1,000 government contribution.

Michael Dell, founder of Dell Technologies, and his wife, Susan, pledged $6.25 billion toward these accounts. Other billionaires, including investor Ray Dalio and SpaceX President Gwynne Shotwell, separately pledged contributions. Shotwell, on Monday, announced her donation of SpaceX shares, acknowledging Elon Musk’s leadership.

Trump humorously admitted that delays in launching the Trump Accounts caused children to miss out on stock market gains.

“We should have acted sooner,” he remarked.