Stocks soar after another drop in oil prices (AP)

Crude oil prices sank $2.54 to $122.19 a barrel on the New York Mercantile Exchange , extending their two-week-long retreat from record highs above $147. The prospect of lower energy costs for U.S. consumers, along with a modest uptick in the Conference Board's July index of consumer confidence to 51.9 from 51 in June, came as welcome news.

For information about underwear elastic see http://www.elastic-tapes.com/underwear-elastic.html.

"The thinking is that oil prices are heading lower, and that's obviously a positive for the market," said Richard E. Cripps, chief market strategist for Stifel Nicolaus . A stock bounce was hardly unexpected, though, after the Dow lost nearly 240 points Monday on worries about the sagging financial sector.

Full Story: Stocks soar after another drop in oil prices (AP)

Click here for more on elastic tapes.