US STOCKS-Wall St lower as earnings take sheen off oil surge

viernes 22 de abril de 2016 11:23 GYT

* S&P tech sector worst performer on S&P 500

* Microsoft drag on all three indexes

* Indexes down: Dow 0.38 pct, S&P 0.45 pct, Nasdaq 1.44 pct (Adds details, changes comment, updates prices)

By Abhiram Nandakumar

April 22 (Reuters) - Wall Street was lower on Friday after a slew of disappointing earnings reports from Microsoft and other major companies eclipsed a surge in oil prices which boosted energy shares.

Microsoft was the biggest drag on all three major indexes.

Crude rose about 2.5 percent on signs of strong U.S. gasoline consumption, declining production around the world and oilfield outages.

With oil hovering near five-month highs and recent economic data indicating a sluggish pace of economic growth globally, earnings have become a major swing factor for stocks.

The S&P 500 has staged a recovery from a steep selloff earlier this year and is inching towards its all-time high, helped also by a cautious Federal Reserve and companies beating tempered estimates. The index is up half a percent for the week.   Continuación...