Donald Trump gives blunt advice to everyday investors as he receives a hero's welcome on the floor of the stock exchange
President-elect Donald Trump gave some blunt advice to everyday investors on Thursday after he rang the opening bell to enthusiastic applause at the New York Stock Exchange.
Trump was asked by CNBC host Jim Cramer whether the 'working person' should buy more stock as he gets set to take office.
Following Trump's victory in the presidential election last month, the stock market has soared to record highs.
But the President-elect stopped short of telling investors to buy more stocks, and issued a warning that the market can always come down again.
'I don't want to get into a situation where they do and we have a dip or something because that can always happen,' he said.
However he still maintained a bullish outlook for the longer term.
'I think long term this is going to be a country like no other. We had the three best years ever until Covid came,' he added.
During his first administration, Trump repeatedly used the stock market as a barometer for his success. During that time, the S&P 500 jumped nearly 68 percent, reaching all-time highs, CNBC reported.
Part of that growth was due to corporate tax cuts which were brought into effect at the time, and sustained low interest rates.
Trump claimed at the Stock Exchange on Thursday that he would cut taxes 'still further.'
'We're gonna do things that haven't really been done before,' he said.
When asked about what he had to say to the American investor, Trump said they should expect some 'very good days ahead.'
The President-elect's trip to the Stock Exchange came as he was named Time Magazine's 'Person of the Year' for the second time.
As he rang the opening bell, he was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE President Lynn Martin, Ivanka Trump and Tiffany Trump.
Trump received a hero's welcome from investors on the floor, as the crowd of traders cheered and broke into a chant of 'U-S-A.'
Many on Wall Street are looking forward to a second Trump administration, which they see as a boon to business.
Trump received a hero's welcome from investors on the floor, as the crowd of traders cheered and broke into a chant of 'U-S-A'
As he rang the opening bell, he was flanked by Vice President-elect JD Vance, incoming first lady Melania Trump, NYSE President Lynn Martin, Ivanka Trump and Tiffany Trump
The President-elect's trip to the Stock Exchange came after he was named Time Magazine's 'Person of the Year' for the second time
Among the onlookers were also prominent names in business, including Goldman Sachs' David Solomon, Citigroup's Jane Fraser, Verizon's Hans Vestberg and Brian Cornell, CEO of Target.
Billionaire hedge fund manager Bill Ackman, who endorsed Trump in the presidential election, also showed up to watch him ring the opening bell.
Ackman, who is the CEO of hedge fund Pershing Square Capital Management, has been vocal in his support of the President-elect, his policy proposals and his Cabinet picks so far.
'Most of the country understands that the more successful businesses are, the more the stock market goes up, the more that their wages rise, the more job growth, the more opportunity, the more businesses who come to this country, it lifts all boats,' he told CNBC on Thursday.
Cabinet nominees and allies Robert F. Kennedy Jr., Scott Bessent, Doug Burgum, Ben Carson, Kelly Loeffler, Pam Bondi, Elise Stefanik, and Lee Zeldin were also present for Trump's big day.
