Today's Headlines

Bloomberg:

• Euro-Area Economy Keeps Cruising Speed as Outlook Improves. The euro-area economy maintained its robust growth pace at the end of last year, setting the stage for another solid performance in 2018 that may sway European Central Bank policy makers into winding down unprecedented stimulus.

• Tech Stocks, Leading Market Bounce, Just Made Up Half Their Loss. It’s too early to sound the all clear after the worst equity selloff in two years. But if you take a look at tech stocks, things are heading in the right direction. Not only is the biggest industry in the U.S. market is leading the four-day bounce from the bottom. The S&P 500 Information Technology index also just passed 1,131, marking a 50 percent retracement of the slump from Jan. 26 to Feb. 8, using intraday extremes. That’s bullish for chart watchers.

• CPI, Retail Data Not Pretty But May Overstate U.S. Economic Pain. (video) Faster-than-projected U.S. inflation and an unexpected decline in retail sales at the start of the year may cause some indigestion on Wall Street, but probably don’t mean much pain for the economy.

• Why Surging Clothing Prices Won't Drive U.S. Inflation for Long. (video)

• Oil Rebounds as Crude Accumulation Slows in U.S. Storage Tanks. (video) At the nation’s biggest pipeline hub, stockpiles have fallen for eight straight weeks, the longest streak for this time of year since 2014.

• Shorts in SPDR Junk Bond ETF Surge to Highest Level Since 2010. Short interest as a percentage of shares outstanding on the SPDR Bloomberg Barclays High Yield Bond ETF, ticker JNK, surged to more than 30 percent Wednesday, according to data from IHS Markit Ltd. That’s about a threefold increase from January and the largest short position in the fund since 2010.

Wall Street Journal:

• AT&T(T) Targets DOJ Antitrust Chief in Time Warner Fight. Company lays the groundwork to challenge the legitimacy of government’s antitrust suit.

• Why You Should Cut Cable—and What You’ll Miss. YouTube TV is now the top internet-TV contender—but how does it stack up to your cable bundle?

• Can the Nordstrom(JWN) Family Outrun Retail’s Woes? Nordstrom’s founding family hopes heavy investing in stores and ecommerce will help the department-store chain reinvent itself for the next 50 years.

• Goldman Sachs(GS) Bolsters M&A Leadership. Dusty Philip will be to co-head of M&A alongside Michael Carr and Gilberto Pozzi.

• U.S. to Block Tax-Law Loophole on ‘Carried Interest’. Treasury to act within two weeks to block a hedge-fund maneuver to avoid paying higher tax rates.

MarketWatch.com:

• Universal Display(OLED) stock soars on announcement of long-term agreement wtih Samsung Display.

• The ultimate buy and hold strategy: 2018 edition.

• This might be the time when you can finally get quality stocks on sale.

• Buy these 5 undervalued stocks on this market pullback.

• Don’t be scared by weak retail sales and rising inflation.

• 70% of fund managers see danger ahead—the highest percentage since the financial crisis.

• Five economic reasons not to panic over the stock-market roller coaster.

• Out of 250,000 cryptocurrency traders, less than 100 paid taxes, according to survey.

Fox News:

• Warren accuses Trump of 'disrespect' to Native Americans for 'Pocahontas' nickname.

CNBC:

• Home Depot(HD) shares are having their worst month in 8 years. But here's why some traders are getting bullish. (video)

• Trump’s budget could let those on Medicare use this tax-favored account.

• The most important chart in the market that everyone on Wall Street needs to see, according to analyst Acampora. (video)

• Six top US intelligence chiefs caution against buying Huawei phones.

• Republicans just got some good news for the 2018 midterm elections: A new poll shows them leading in the race for Congress.

Zero Hedge:

• Mortgage Apps Tumble As Rates Spike To 4-Year Highs. (graph)

• US Slaps China With Antidumping Duty On Cast Iron Soil Pipe Fittings.

• VIX Crashes Back Below 20 After Futures Expiration. (graph)

• "Fading Ray" - Why One Trader Is Buying What Bridgewater's Selling. (graph)

• A 'Currency' Shouldn't Be That Volatile? Gold Spikes To $1350 As Dollar Plunges. (graph)

• WTI/RBOB Spike After Smaller Than Expected Crude Build, New Record High Production. (graph)

• Arizona, Colorado, & Wyoming Push Legislation Supporting Cryptocurrency.

• Stocks Shrug Off Inflation Scare But Bond Yields Extend Spike. (graph)

• Goldman's(GS) Buyback Desk Has Busiest Week Ever, But "It's Not Going To Be Enough".

• Stagflation: Retail Sales Tumble Just As Inflation Spikes. (graph)

• Wage Growth? Real Hourly Earnings Are Slowing Notably. (graph) 

• Three People Shot After Intruders Try To Ram NSA Compound Gate.

• Macron Vows To Reform Islam In France: "It Is Time To Bring In A New Generation".

• BIS Chief Fears "Systemic Threat" Of Bitcoin, Urges "Pre-emptive Action" From Authorities.