Oil Drop Lifts U.S. Consumers as Companies on Guard: Economy

The plunge in oil prices is proving to be an unmistakable boon for U.S. households. The benefits for companies are less evident.

Consumer confidence soared in January to the highest level in more than seven years as Americans took heart in an improving labor market, prospects for higher earnings and falling gasoline prices, according to figures from the New-York based Conference Board Tuesday. Orders for durable goods unexpectedly fell 3.4 percent in December, signaling a global growth slowdown is weighing on manufacturers, another report showed, amid a decline in some company earnings triggered by a surging dollar .