US Consumers Most Bullish on Stocks Since April 2021

Consumers are becoming increasingly confident in the outlook for US equities. The perceived probability that stock prices will be higher 12 months ahead rose 0.5 percentage points in July to 41.4%, the highest since April 2021. Since March, the measure has climbed 5.1 points, leaving it at the second-highest reading since the 2020 pandemic period.

The April 2020 peak of 51.8% remains the high-water mark.

Optimism was broad-based across age cohorts. Respondents under 40 reported the strongest probability at 42.0%, the second-highest for that group since September 2024. The 40–59 age group was at 41.5%, its highest since January 2025, while those over 59 reached 41.1%, the strongest since September 2025.