The newly elected President of the United States of America (USA) Donald Trump opened the stock market in New York on Thursday after Time magazine named him Person of the Year for the second time.
The honors for the businessman-turned-politician are a sign of Trump's remarkable comeback, from the ostracized former president who refused to accept his election defeat four years ago, to the president-elect who decisively won the White House in November.
Before ringing the bell for the first time in his career to open the stock market at 9:30 a.m. local time, Trump said in his speech that it was a "huge honor" for him.
"Time magazine, I was honored for the second time, I think I actually like it better now," he said.
Donald Trump, accompanied by his wife Melania, daughters Ivanka and Tiffany and Vice President-elect JD Vance, smiled as people chanted "USA" before ringing the bell. Then he raised his fist up.
In his remarks, he talked about some of the people he has named in his new administration, including Finance Minister Scott Besant.
He also talked about some of his announced policies, including this week's promise that the federal government will issue expedited permits for more than $1 billion worth of projects and construction, including environmental approvals.
"I think we're going to have a great run. We have some problems to solve, some big problems in the world," he said.
Sam Jacobs, editor-in-chief of Time, announced on NBC's "Today" show that Trump is Time's 2024 Person of the Year.
Jacobs said that Trump is someone who "for better or for worse had the biggest impact on the news in 2024."
"This is someone who has made a historic comeback, who has reshaped the American presidency and who is changing the order of American politics," Jacobs said.
"It's hard to argue with the fact that the person moving into the Oval Office is the most influential person in the news," he said.
He added that "there is always a heated debate" in the magazine about the person of the year, "although I have to admit that this year it was an easier decision than in the past."
In an interview with the magazine published Thursday, Trump talked about the campaign and the election victory.
"I called it '72 days of rage.' We hit the nerve of the country. The country was furious," Trump said.
Trump marked the ceremonial start of today's trading on Wall Street.
The cover of Time magazine was projected onto the stock market wall, surrounded by American flags.
Trump took the stage with family members and members of his new administration as his favorite song "God Bless the USA" played.
Trump was also Time magazine'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 with celebrities including US Vice President Kamala Harris, X owner Elon Musk, Israeli Prime Minister Benjamin Netanyahu and Kate, Princess of Wales.
The New York Stock Exchange (NYSE) regularly invites celebrities and business leaders to participate in the opening of trading at 9:30 a.m. On Thursday, Trump was given such an honor for the first time, which has become a feature of culture and politics, according to AP.
Last year, Time CEO Jessica Sibley rang the NYSE opening bell to reveal the magazine's 2023 Person of the Year, and it was Taylor Swift.
Trump has long been fascinated by the cover of Time, where he first appeared in 1989. He falsely claimed to hold the record for appearances on the cover, and the Washington Post reported in 2017 that Trump had one fake picture of himself on the cover of the magazine hanging in several of his golf clubs .
Earlier this year, Trump gave interviews to the magazine for a story that was published in April.
Time's owner, billionaire Marc Benioff, who is the CEO of Salesforce, criticized Trump's Democratic rival, Vice President Kamala Harris, for not giving an interview to the magazine.
"Despite numerous requests, Time was not granted an interview with Kamala Harris — unlike every other presidential candidate," Benioff said in a post on Ix.
"We believe in transparency and publish every interview in its entirety. Why didn't the vice president cooperate with the public at the same level?" he said.
In his latest interview published on Thursday, Trump reiterated that he would pardon most of those convicted in the riots at the US Capitol on January 6, 2021.
"I will start in the first hour. Maybe the first nine minutes," he said about the pardons.
Trump said he would not ask members of his administration to sign a loyalty pledge.
"I think I'll be able to tell, for the most part, who's loyal," he said.
But he said he would fire anyone who did not follow his policies.
Regarding the war in Gaza, Trump said that he wants to end the conflict and that Israeli Prime Minister Benjamin Netanyahu knows this. When Trump was asked if he trusted Netanyahu, he told Time: "I don't trust anyone!"
The president-elect also discussed his plans for mass deportations and said he would have the authority to use the military to help with the effort, although, the magazine said, the "Posse Comitatus" law prohibits the deployment of the military against civilians.
"That does not stop the army if it is about invading our country. I will only do what the law allows, but I will go to the maximum level of what the law allows," he said.
Trump built his image as a wealthy real estate entrepreneur who starred as the star of the reality TV show "The Apprentice" and during his presidential campaign.
He won the election in part by channeling Americans' concerns about the economy's ability to serve the middle class, AP writes.
The wider business community welcomed his promises to cut corporate taxes and cut regulations. But there are also concerns about his plans to impose sweeping tariffs and possibly target companies he deems out of line with his political interests.
The US stock market has historically tended to rise regardless of which party wins the White House, with Democrats posting higher average gains since 1945.
But Republican control could mean big shifts, and investors are hedging bets made earlier on what will mean higher tariffs, lower tax rates and looser regulations that Trump favors, according to the AP.
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