Trump rings bell at NYSE to cheers of “USA” as CEOs and business leaders look on

President-elect Donald Trump rang the opening bell at the New York Stock Exchange on Thursday after promising an economic boom in front of a cheering crowd of traders and business leaders.

“We are with you all the way,” declared the new Republican president in the NYSE building in lower Manhattan, where he was invited after becoming Time magazine’s “Person of the Year” for the second time. .

Trump was flanked by Vice President-elect JD Vance, new first lady Melania Trump, NYSE Chairman Lynn Martin and two of Trump's children, Ivanka and Tiffany, as the bell rang.

Trump, who will take office on January 20 and has announced his plans to make the United States as attractive as possible for business, was greeted with warmth and enthusiasm by the large crowd gathered on the grounds.

Spectators included David Solomon of Goldman Sachs, Jane Fraser of Citigroup, Hans Vestberg of Verizon, Brian Cornell of Target, Michael Miebach of MasterCard and Bill Ackman of Pershing Square.

At one point, the room started singing “USA.”

Trump's entourage also included his pick for Health Secretary, Robert F. Kennedy Jr., his pick for Treasury, Scott Bessent, his pick for Interior Secretary, Doug Burgum, and his pick for Commerce Secretary Howard Lutnick. Also in attendance was Kelly Loeffler, Trump's pick to lead the Small Business Administration and wife of NYSE Chairman Jeffrey Sprecher.

In brief advance remarks, Trump promised that his new administration would usher in “an economy like no one has ever seen before.”

“We're going to give massive incentives like no other country has done,” Trump told the wealthy crowd, including cutting taxes “very substantially.”

Trump reiterated plans to boost U.S. oil drilling, promising it would reduce inflation and lower food prices.

That assertion contrasts with what he told Time when asked whether his administration would be a failure if grocery bills remained high.

“I don't think so. Look, they brought them up. I'd like to bring them down. It's hard to bring things down once they're in place,” Trump told the magazine.

He also reiterated to the NYSE his promise to reduce the corporate tax rate, already lowered to 21% during his first term, to 15%, but only for companies that choose to manufacture in the United States.

“You pay 21% if you don't build here. If you do, we're going to try to get it to 15%, but you have to build your product, make your product in the United States,” Trump told Jim de CNBC. Burning after the bell.

Trump also attributed his election of Vice President Kamala Harris to recent gains in the stock market, and noted that he would return to the White House with closer ties to some of the nation's richest and most influential people.

“[Meta CEO] Mark Zuckerberg came to see me, and I can tell you, [Tesla and SpaceX CEO Elon [Musk] is another and [Amazon founder] Jeff Bezos is coming next week and I want to get ideas from them,” Trump told Cramer, who runs the members-only CNBC Investing Club.

Hedge fund mogul Bessent, Trump's pick to replace Janet Yellen as Treasury secretary, told Cramer the next administration would benefit both Wall Street and Main Street.

“I think under President Trump, Wall Street can win and Main Street can win, just like we did under Trump 1.0. Everyone can do good,” Bessent said.

CNBC's Alex Harring and Yun Li contributed to this report.

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