Oil prices are down and stocks are up on Wall Street. CNN Susan’s Lisovich reports it’s the second straightbig rally. A rarity on Wall Street, big sack-to-back gains, and for a second day a decline in crude, and better than expected earnings fueled the rally. Oil dropped nearly 5.50 on the day about $16 in the past three sessions. A sigh of relief as well from closely watched financial sector. J.P. Morgan shares shot up 13.5% on its quarterly report card. And Fannie Mae and Freddie Mac shares shot up at least 18% after a rating service reaffirmed their AAA rating. At the close, the Dow rose 207 points. The NASDAQ gained 27. Susan Lisovich CNN New York. Merck will start cutting checks in August for former users of the Painkiller Vioxx. Merck attorneyTend Mayor says the company will fund a $4.85 billion settlement. “We have more than 97% of the eligible claimants have now initiated enrollment in the program.” Merck expects to resolve about 50,000 lawsuits. Texas takes another big step down the renewable energy highway. CNN’s Rick Vincent has that story. State regulators have given preliminary approval to build billions of dollars worth of the new transmission lines to send wind-generated electricity from gustyWest Texas to the urban areas that need it. Barry Smitherman Chairman of the Public Utilities Commission says Taxes isn’t the leader in wind power by chance. “We have tremendous support back in West Texas in the panhandle communities for the development of land …unlike what…. you might see off the coast of Martha's Vinyard for example.” The $ 4.9 billion plan will be financed by an extra $4 a month charge on residents’ electric bills. Rick Vincent CNN. Microsoft Corporation says its fiscal fourth-quarter profit jumped 42% from a year ago. It was helped by strong sales of its Office and Windows software. Earnings rose to $ 4.3 billion or 46 cents per share. With CNN radio in the Marketplace. I am Mary Ellen Hopkins.