The problem with the logic from the WSJ is that nearly all of the stock rebound occurred BEFORE the Europe data was released. The rebound occurred last night before the Eurozone markets even opened! Interesting, too, that this news would trump the news of an impending Europe contraction that we saw today also. Shouldn't those two news events be more likely to cancel each other, rather than one news event being dismissed in favor of the contradicting one? But in the age of endless central bank interventions, why should we be surprised?
