Every night on the news when they do the stock market report, they show the closing bell at the NY Exchange. At the dais there is always several people laughing and clapping, no matter whether the marked closed up or down. Even when the DJIR had a record drop, they looked like a high school cheering squad.
What gives?
Rich people, who are now richer.
I’m pretty sure they’re showing the opening bell. And often the exchange brings in guests to clang the bell to start the session.
For instance, if a new stock is being added to the exchange, the president of the company and other officers and their families are given the honor of ringing the bell. It’s an exciting moment for them, so they clap. I’ve also seen New York sports teams there if they win a championship.
It’s possible they do the same thing for the closing bell, too.
Yes, guests are invited to ring the closing bell as well.
During the past few weeks, I’m pretty sure I saw a shot on the news of a solitary guy ringing the bell before a rightly anticipated bad day. I figured they couldn’t find anybody who wanted their face associated with a crash. Even the official was trying to stay as far out of frame as possible…
Yes, it would look flippant clapping during a Stock Market crisis.
Often they’re folks from companies that just did an Initial Public Offering or moved onto one of the exchanges, or otherwise have something positive to celebrate like a new product. The Nasdaq started doing it a few years ago - CNBC usually shows both at open and close.