NEW YORK CITY –
About six months ago, Donald Trump was sitting in a courtroom in lower Manhattan listening to a jury make him the first former president convicted of a crime.
On Thursday, he will ring the opening bell at the New York Stock Exchange just blocks from that courthouse and be recognized by Time magazine as its person of the year.
The honors for the businessman-turned-politician represent the latest chapter in his love-hate relationship with New York. They’re also a measure of Trump’s remarkable comeback from an ostracized former president who refused to accept his election loss four years ago to a president-elect who won the White House decisively in November.
Trump is expected to be on Wall Street to mark the ceremonial start of the day’s trading, according to four people with knowledge of his plans. He will also be announced Thursday as Time’s 2024 Person of the Year, according to a person familiar with the selection. The people who confirmed the NYSE appearance and Time award were not authorized to discuss the matter publicly and spoke to The Associated Press on condition of anonymity.
Trump was also Time’s Person of the Year in 2016, when he was first elected to the White House. He was listed as a finalist for this year’s award alongside notables including Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, the Princess of Wales.
Time declined to confirm the selection of Trump before the announcement. Last year, the company’s CEO Jessica Sibley rang the NYSE opening bell to unveil the magazine’s 2023 Person of the Year: Taylor Swift.
The NYSE regularly invites celebrities and business leaders to participate in the 9:30 a.m. ceremonial opening trading. Thursday will be Trump’s first time doing the honors, which have become a marker of culture and politics.
During Trump’s first term, his wife, Melania Trump, rang the bell to promote her “Be Best” initiative on children’s well-being.
Donald Trump’s trip to New York from his adopted home of Florida to sound the call of capitalism in the mecca of finance tops a string of visits that the former president has made to various spots in the city this year.
Outside of his required presence in a downtown courthouse for his trial, Trump, who is always attuned to the art of a photo op, held campaign events around the city: at a firehouse, a bodega and a construction site. He also held a rally in the Bronx, among the places in the city where Trump made inroads during the election.
To mark the final stretch of his campaign, he held a high-octane rally at Madison Square Garden, which drew immediate blowback after speakers there made rude and racist insults and incendiary remarks.
Trump has long had a fascination with being on the cover of Time, where he first made an appearance in 1989. He has falsely claimed to hold the record for cover appearances, and The Washington Post reported in 2017 that Trump had a fake picture of himself on the cover of the magazine hanging in several of his golf country clubs.
Trump crafted his image as a wealthy real estate developer, which he played up as the star of the TV reality show “The Apprentice” and during his presidential campaign. He won the election in part by channeling Americans’ anxieties about the economy’s ability to provide for the middle class.
After the Nov. 5 election, the S&P 500 rallied 2.5 per cent for its best day in nearly two years. The Dow Jones Industrial Average surged 1,508 points, or 3.6 per cent, while the Nasdaq composite jumped three per cent. All three indexes topped records they had set in previous weeks.
Trump, who often regards the stock market as a measure of public support, has said his coming term as president should be dated to the day after the election so he is credited for the gains.
Trump’s campaign promises have included pledges to deliver historic levels of economic growth, and the people he’s selecting to fill out his incoming administration skew heavily from the business sector.
The larger business community has applauded his promises to reduce corporate taxes and cut regulations. But there are also concerns about his stated plans to impose broad tariffs and possibly target companies that he sees as not aligning with his own political interests.
The U.S. stock market has historically tended to rise regardless of which party wins the White House, with Democrats scoring bigger average gains since 1945. But Republican control could mean big shifts in the winning and losing industries underneath the surface, and investors are adding to bets built earlier on what the higher tariffs, lower tax rates and lighter regulation that Trump favors will mean.
In light of his election win, his lawyers have sought to have his conviction in the Manhattan case be thrown out.
Associated Press writers Colleen Long and Josh Boak in Washington contributed to this report.
