We're not out the woods yet. More retail earnings are on the slate after Wall Street returns from the Memorial Day long weekend.
Action Alerts PLUS' senior analyst Jeff Marks broke down what he's watching from the apparel retailers next week:
"Abercrombie's (ANF - Get Report) going to report next week. One thing I'm looking over there is if they can continue momentum at Hollister ... we're going to also hear from Dick's Sporting Goods (DKS - Get Report) . That might be a weather story, we saw weather impact a lot of retailers already this earning season so that might also come into play, too."
"And another one I got my eye on is Dollar Tree. It's interesting because when they reported (last quarter) and they gave their 2019 guidance management already incorporated the first bucket the 25% tariffs...their CEO has been pretty committed to not being a hostage to one region, not being hostage to China when it comes to sourcing. So that's already in guidance. So now we just have to see if there's anything incremental."