President Donald Trump rang the opening bells of the New York Stock Exchange and Nasdaq from the Oval Office on Monday. This symbolic act ties his presidency with the stock market. Facing issues with inflation affecting his popularity, Trump urges Americans to focus on their 401(k) retirement investments. He claims his policies deserve credit for any gains, especially as the midterm elections approach in November.
Trump stated, “The market will soar,” after ringing the bell to start the trading day. However, only 33% of U.S. adults approve of Trump’s economic leadership, according to a June survey by the AP-NORC Center for Public Affairs Research. Despite this, his emphasis on the stock market may not benefit his party with voters in the upcoming elections.
The Oval Office event highlighted the launch of Trump Accounts. These accounts aim to allow children to invest in stock indices as part of a Republican tax and spending law set for 2025. Treasury Secretary Scott Bessent noted that many Americans lack direct exposure to stocks, meaning millions don’t benefit from these investments unless they retire in decades.
Before the bell, Bessent highlighted, “38% of American families have no exposure to our stock markets.” The S&P 500 index saw a 17.9% gain in 2025, following annual increases of 25% in 2024 and 26.3% in 2023 during Democrat Joe Biden’s presidency. The index has risen about 10% this year.
As inflation affected Biden’s public support, Trump has seen his approval drop due to rising prices. Trump won the 2024 election by promising to cut costs, but tariffs and the Iran war added new inflation pressures. Consumer prices increased by 4.2% over the past year, up from 3% when Trump began his second term in January 2025.
Trump believes government and corporate-backed stock investments will provide future generations with greater economic participation. The accounts have received support from billionaires alongside a $1,000 government contribution. Michael Dell, founder of Dell Technologies, and his wife Susan pledged 6.25 billion dollars to the accounts. Other billionaires, including investor Ray Dalio and SpaceX President Gwynne Shotwell, have also made commitments. Shotwell announced a donation of SpaceX shares for the accounts.
Trump humorously noted that due to delays, children missed out on stock market gains, remarking, “We should have acted faster.”
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