Squawk on the Street SOTS 2nd Hour: President-Elect Trump visits the New York Stock Exchange; Nasdaq 20K 12/12/24
Dec 12, 2024
In a historic visit to the New York Stock Exchange, President-elect Trump shares his economic optimism and discusses tax incentives and international relations, particularly with China. Lynn Martin, NYSE President, reveals the significance of this rare appearance amidst the excitement in trading. Professor Jeremy Siegel analyzes market reactions to Trump's proposed growth plans and potential impacts on tech stocks. The discussion also touches on the rising sentiment among CEOs, anticipated IPOs, and the wealth dynamics influenced by tech titans like Elon Musk.
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Trump Visits NYSE
- President-elect Trump visited the NYSE, ringing the opening bell and walking the floor.
- He interacted with traders, discussing his economic plans and the market outlook.
Trump's Market Outlook
- Trump expressed optimism for the market, promising incentives for businesses investing in the U.S.
- He discussed plans for tax cuts, deregulation, and promoting American-made products.
Post-Election Market Rally
- The market rallied after Trump's election, with sectors like financials benefiting significantly.
- Trump's policies, including tariffs and deregulation, are seen as favoring the U.S. economy.