The headline says "US Stocks Pare Losses Amid Signs Of Greek Bailout", which may sound like a plausible explanation, but in fact, it's completely ridiculous. The real reason that stocks are "paring losses" is because there was a major wave of Climax Low signals yesterday. Assuming the signals work, which appears to be happening, we can expect yesterdays lows to mark the lows of the correction, and a rally to ensue from here. It's purely a technical thing, based on volume and price action.
The news is irrelevant, by in large. We find that there's always good news, and bad news. Plenty of news to go around. If the market is going down, they'll attribute it to the bad news, and if it's going up, it will be because of the good news.
The entire financial news industry seems to be set up to fan the flames of investor confusion, perpetuating myths and spreading disinformation, which ultimately just creates more trading volume. No good can come of it. The best policy is to screen it all out, and focus purely on the technical aspects.