Jim Cramer Discusses the Impact of Trump's New York Stock Exchange Visit

On December 12, 2024, President-elect Donald Trump made a notable appearance at the New York Stock Exchange (NYSE) alongside his wife, Melania. This event followed his recognition as TIME's "Person of the Year" for the second time, highlighting his significant presence in the business world.

CNBC's Jim Cramer commented on Trump's NYSE visit, suggesting that it signals a positive outlook for the stock market, even though major averages closed lower that day. He emphasized, "Love him or hate him, Trump's unabashed love for business makes it easier to be a good investor because investors do need staying power." He acknowledged the current challenges in the market, where investors need to maintain resilience through ups and downs to maximize their returns.

Cramer also pointed out that while Trump's business insights might not influence daily market fluctuations, the act of him ringing the bell at the exchange is a reassuring gesture for many investors. He drew a parallel to former-President Ronald Reagan's ringing of the bell in 1985, which was accompanied by a pro-business sentiment that encouraged stock purchases.

Despite the day’s mixed results in stock performance, including a notable drop of over 13% in shares of Adobe, Cramer remained optimistic. He highlighted that a president's ability to affect individual companies' performance directly is limited, as firms need to innovate or adjust pricing to remain competitive.

Furthermore, Cramer criticized President Joe Biden for not visiting the NYSE during his tenure, suggesting that this reflects a lack of engagement with the investment community. He noted that Trump's administration is perceived as more favorable to increasing stock prices, which can create a better environment for investors.

Ultimately, Cramer concluded, "Today, like that shiny hill day in 1985, when Reagan stood up here, it's a reminder that the Trump White House will be very much in favor of higher stock prices. That makes it easier to invest, and while today's market session may not have been exceptional, its long-term effects are what truly matter."

Trump, NYSE, Investing