One line of the chart shows the average stock market return that investors expect over the coming 12 months. The data are shown on an every-other-month basis from February 2017 through August 2024. Investors’ 12-month expected return was 6.2% in August 2024, a slight increase from two months earlier. The second line shows the average stock market return that investors expect over the coming 10 years. The data are shown on an every-other-month basis from February 2017 through August 2024 and are steadier than for the 12-month time frame. Investors’ 10-year expected return stood at 7.9% in August 2024, rising from the reading of 7.7% in June 2024.