Trump Signals More Tax Cuts, Avoids Market Predictions

President-elect Donald Trump, after participating in the ceremonial ringing of the opening bell at the New York Stock Exchange on Thursday, carefully avoided advising investors to buy stocks while preparing for his upcoming term. Trump told Jim Cramer on CNBC's "Squawk on the Street," "I don't want to get into a situation where people are buying and then there's a drop, because that can always happen."

During his previous term, Trump frequently highlighted the stock market's performance as a measure of his administration's success. The S&P 500 experienced significant gains, rising nearly 68% to reach record levels. This increase was partially supported by corporate tax cuts implemented by his administration and the Federal Reserve's strategy of keeping interest rates at historic lows to encourage inflation, which in turn supported higher stock prices.

While at the stock exchange, Trump discussed plans to further lower taxes and proposed incentives for domestic manufacturing. He introduced a tax strategy that suggested reducing the corporate tax rate for companies producing domestically from 21% to 15%. He stated that this initiative would represent an unprecedented approach to tax policy and aims to strengthen the U.S. manufacturing sector.