Just like that, stocks have boomeranged off early session lows. Major stock indexes were down more than 1% all day long. Then the Twittersphere started blowing up a few minutes ago with headlines saying Germany’s Angela Merkel has canceled tonight’s press conference. All of a sudden, stocks bounced back with a vengeance. The Dow is down only 37 points, after earlier dropping more than 160 points. The S&P 500 is down 0.4%. Financial stocks have moved well off earlier lows, while energy and consumer staples have turned positive. It’s unclear how this canceled press conference would have such a positive impact on ... (full story)