The markets were higher today following good news from the retail sector as well as strong tech stocks. The Dow 30 was higher by 62, the S&P 500 added 11, and the Nasdaq 100 rose the most today, gaining 46 on the day.

Shares of Macy's (M  ) broke to new highs on the year, adding 10.79% thanks to earnings that came in better than expected. A key metric, same store sales, came in at 4.2% - way better than analyst predictions of 1.4%. The CEO commented that the company is seeing "continued healthy consumer spending," which caused them to raise their outlook going forward. Much of the retail sector (XRT  ) was higher (+1.62%) on the news. Nike (NKE  ), a seller to Macy's, saw shares move to new highs, adding 2.65% on the news.

Kellogg (K  ) announced yesterday that it would cease manufacturing in the country due to "worsening economic conditions." Today Venezuelan authorities have seized their cereal factory as President Maduro called their decision "unconstitutional and illegal," stating that the factory will continue production. Shares were only lightly affected by the news.

Apple (NASADQ: AAPL) was in the news today as institutional investors are officially on record reducing their holdings by over 153 million shares in the first quarter. This is the largest decrease in holding since the financial crisis of 2008. Thanks to rapid share buybacks, as well as 75 million of those shares going to Warren Buffett, the stock was largely unaffected by this.

Teva Pharmaceutical (TEVA  ) was the latest stock to feel the Buffet effect today as Berkshire Hathaway announced that it had increased its position in the pharma company. Shares were higher by 3.00% on the day, nearing highs for the year.