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 December 2024. Investors’ 12-month expected return was 6.4% in December 2024, a slight decrease from October 2024. 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 December 2024 and are steadier than for the 12-month time frame. Investors’ 10-year expected return stood at 7.6% in December 2024, falling from the reading of 7.9% in October 2024.