Before you get your Memorial Day weekend started, Action Alerts PLUS senior portfolio analyst Jeff Marks and research analyst Zev Fima bring you the market news and analysis you need to close out the week.
Jim Cramer and Katherine Ross will return on Tuesday, May 28.
Theresa May's Resignation
U.K. Prime Minister Theresa May said Friday she will step down as head of the country's ruling Conservative Party on June 7, throwing the much-delayed Brexit process deeper into chaos.
Action Alerts PLUS' senior analyst Jeff Marks said the Brexit turmoil gives investors another reason to look at investing in U.S. markets. "If you look at how our markets are structured, it's the most transparent," Marks said, noting multinational exposure of U.S. companies will give exposure to the global markets.
Foot Locker Earnings
Foot Locker (FL) - Get Foot Locker, Inc. Report reported weaker-than-expected first quarter earnings Friday, and trimmed its full-year profit guidance, as the prospect of tariffs on China-made goods looms over the athletic shoe and apparel industry.
Marks said, "If you have tariffs effecting a lot of shoe companies, say like Nike for example, they're either going to be forced to eat, the costs or raise prices. If they raise prices, I might be less inclined to shop at foot locker. So that's one thing that you want to keep an eye on."
Foot Locker is Real Money's Stock of the Day
Retail Earnings Roundup
More retail earnings are coming next week including Abercrombie & Fitch (ANF) - Get Abercrombie & Fitch Co. Class A Report , Dick's Sporting Goods (DKS) - Get Dick's Sporting Goods, Inc. Report, and Dollar Tree (DLTR) - Get Dollar Tree, Inc. Report .
Marks noted particular interest in Dollar Tree. "Dollar Tree is interesting because when they reported and they gave their 2019 guidance management already incorporated the 25% tariffs," Marks said.
Memorial Day Sale
If you aren't already a member of
, this weekend is a great chance to sign up and take advantage of our Memorial Day sale, with a special 3-month trial and a steep discount available.