2019 was an extraordinary year for equity investors. The S&P 500® Index surged a whopping 31.5% while the Russell 2000® Index advanced 30.6%. For the fourth quarter, the S&P 500 and Russell 2000 gained 9.1% and 7.1%, respectively. Such impressive performance represented a sharp turnaround from year-end 2018, when markets retreated alongside fears of tighter monetary policy and slowing growth.