Stress can have profound impacts on memory. However, the directionality of stress effects on memory varies widely across studies, some showing enhancement while others showing impairment. This variability has been attributed to the Yerkes-Dodson Law, which proposes a U-shaped pattern such that too little or too much stress may be associated with cognitive dysfunction. The impact of stress on memory may also depend on what aspects of memory are being measured (e.g., emotional content, gist vs. detail) and how stress is measured (e.g., physiological measures, self-report). Here, we aimed to examine how self-reported perceived stress in the current moment was associated with memory performance. We used an emotional memory task designed to tap into potential gist versus detail trade-offs of stress impacting memory (e.g., target recognition, lure discrimination). Participants (ages 18-35) reported their current level of perceived stress. We replicated prior work showing impaired emotional relative to neutral lure discrimination in young adults in support of a gist versus detail trade-off in emotional memory. However, those with low and high current perceived stress showed better emotional lure discrimination compared to those with moderate current perceived stress. These results are in line with the Yerkes-Dodson Law but suggest that the directionality of the impact of stress on memory may depend on the type of memory measured. Low and high current perceived stress was associated with greater detailed memory, especially for emotional information, which may be maladaptive given gist vs. detail trade-offs in emotional memory.