The last two days have shown that Google's ( GOOG) leadership of the tech sector, and to a degree the broader market, has the potential to be a very good thing or, just as easily, a very bad one. A Google executive's candid and surprise statements on decelerating growth caught Wall Street off guard Tuesday, perhaps because this was supposed to be a week for promoting the positives of tech stocks. Several powerhouse banking firms are holding conferences throughout the week, including Merrill Lynch, at whose gathering Google CFO George Reyes' said that "clearly our growth rates are slowing." That triggered a 7% plunge for the stock and a 1.2% slide for the Nasdaq Composite. Fast forward to Wednesday, and it was as if the previous day's selloff never even happened. Hours after Reyes' comments, the company issued a clarifying statement expressing optimism about its efforts to continue monetizing Internet searches. The stock didn't recover all of the prior session's losses, but it did rise 0.6% to $364.80. However, Google's seemingly successful damage-control efforts weren't the only factor helping the market rebound. Cisco ( CSCO), whose chief operating officer also gave a presentation at the Merrill conference, saw its stock among the day's best large-cap performers, rising 4% to $21.06. For other Internet-related stocks, the session was mixed. Yahoo! ( YHOO) rose 0.6%, but Amazon.com ( AMZN) dropped 0.9%, while eBay ( EBAY) fell 0.4%. Aside from the Merrill conference, Credit Suisse First Boston, RBC Capital, Lehman Brothers and Goldman Sachs were also holding tech forums Wednesday. "There's nothing really company-specific coming out, but after the Google story yesterday we're hearing pretty positive comments about online advertising trends, and there's real interest in wireless and broadband stories," says Art Hogan, market strategist at Jefferies & Co, which, you guessed it, was also hosting a technology get-together Wednesday.