Trump rings Wall Street’s opening bells as he ties his presidency to stock market gains
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- Trump rang the NYSE and Nasdaq opening bells from the Oval Office on Monday, using the symbolic moment to promote "Trump Accounts" and frame his presidency around stock market gains ahead of midterm elections.
- A June AP-NORC survey found only 33% of U.S. adults approve of Trump's economic leadership, undercutting his "Thank you, President Trump" framing of market records.
- Trump Accounts, created as part of Republicans' 2025 tax and spending cuts bill, let children invest in stock indexes; Treasury Secretary Scott Bessent said 38% of American adults own no stocks and aims to drive that figure to zero.
- The S&P 500 has risen roughly 10% so far in 2025 after 17.9% annual gains, but it also posted 25% in 2024 and 26.3% in 2023 during Biden's presidency.
- Consumer prices climbed 4.2% over the past 12 months, up from 3% when Trump began his second term, with his tariffs and "the start of the war in Iran" cited as new inflationary pressures.
Why it matters: Trump's pitch depends on voters feeling market gains, but 38% of Americans own no stocks and CPI inflation has hit 4.2% under his tariffs — the same cost pressures that have dragged his economic approval to 33%. The Oval Office ceremony exposes a structural mismatch: celebrating Wall Street highs for a midterm audience whose households are largely uninvested and facing rising prices.
